Digital video technology has not only finally come of age, but is surpassing all previous expectations. For those that want to position themselves for growth, the direction changes to net based video need to be seriously examined and there are now a world of opportunities available to meet the needs. As with everything, the revolution is being driven by consumer demand, and this means that the world of DVD’s as we know it, will soon be left in the dust as the movement continues towards mobile video.
The Data Tells the Story
It is a fact that adoption of mobile video is escalating exponentially. According to eMarketer, they forecast for mobile video in advertising for the next four years is expected to quadruple. This is a jump from the 2014 numbers of $1.44 billion to $5.44 billion by 2018; with online video advertising exceeding 44% of the total advertising market for online video. With the uptick in smartphone use, eMarketer has predicted that there will be a continued explosion for smartphone digital video viewers from the 2014 number of eighty nine million to a 2018 number of 125.4 million and a tablet viewing jump from the 2014 number of 113.4 million to 149 million by 2018.
This is probably one of the most important ‘heads up’ terms that you need to pay attention to. Screen agnosticism is the method that combines the concepts of how consumers view video content with the behavior response that marketers and businesses address and adopt to the public requirements. The focus is not on the screen, but the content, as consumers continue to view on whatever method is currently most convenient, for the moment. The forward thinkers are designing digital video so that it can be viewed across multiple channels and devices, with a focus on the digital message and not the screen.
Nothing validates the concept of ‘content’ more than the expansion into mainstream adoption of wearable devices. While health, fitness and medical verticals seem to have been the initial launch, wearable technology is considered to be the breakthrough that is being catapulted as of 2014. Companies such as Nike, Fitbit, Sony, Omate, Samsung Galaxy Gear, Apple and Google are bringing a different approach, but a collective genius in the understanding that the technologies are moving into the ‘something I want’ category.
As consumers move into multi-screen access, the landscape of digital video is making a quantum leap to adjust.
*‘Meshing’ has already become a top priority, as the public views something on the television and surfs the web on their smartphone for additional information. The savvy business that is on top of the game will ensure that any advertising content will have continuity to their website and digital video offerings. Additional customer habits that are being addressed include:
*‘Stacking’: Consumer access of multiple screen devices for totally unrelated content and subjects. i.e.: Viewing television while accessing the web via the smartphone for an airplane ticket price.
*’Shifting’: The use of multiple devices for an ultimate purchase. I.e. Smartphone access for an airline ticket price, but purchasing the ticket through the tablet or laptop.
Youth Target Audience Focused on Smartphones
Younger consumers consider their mobile phones to be very personal, with all of their life activities revolving around the phone. A 2014 study by Deloitte showed that around 44% of Millennials actually watch any videos on television sets. Digital video viewing is increasing as this generation moves away from the standard old school DVD ownership and into the viewing for the need of the moment. Branding that demonstrates an understanding of trending needs while ‘befriending’ the youth culture will bring the young consumer over and they will become the best ambassadors of a service or solution. An advertising budget can experience serious reductions when they share with their friends via social media, and the world.
We are in a digital video movement that is fast overtaking previous viewing options and it means that there need to be changes in the way businesses view digital video as a topic. The ComScore report shows 45.4% of internet users are actively engaged in online video viewing. Addressing the turning tide involves a change in focus from standard DVD offerings to easy and secure online digital video platforms that bring multi-channel abilities. Multiple studies by Forbes, ComScore, Forrester and OnLine Publishing Association have already demonstrated ROI excellence in the online digital video experience. The key is to reduce the DVD conversation and to endorse the changes to be part of the evolution.