Paul Beck is a featured contributor to Video Marketing and Advertising: Then, Now and the Incredibly Promising Future report.
Here's the complete contribution:
According to the Cisco VNI forecast, video will account for more than 80% of global Internet traffic by 2020 and one would expect that percentage to continue to increase well beyond that. Baby Boomers are taking to YouTube at extremely high rates making the old profile of a YouTube watcher as a “male Millennial” obsolete. More than 50% of viewers are now female. The highest increases in watch time have been occurring in adults over 35 years old with those 55 and over showing a staggering 80% according to comScore.
The Google/Ipsos Connect survey tells us that Youtube users are twice as likely to pay close attention while watching YouTube than TV users while watching TV. Additionally 68% of YouTube users watched YouTube to help make a purchase decision and three in four adults watch YouTube at home on their mobile devices.
So what does this all mean for the next 3-5 years? Given the prioritization, commitment and investment of platforms like YouTube, Facebook, Instagram, etc., toward video, we are going to see “innovation” across the entire spectrum of the video advertising ecosystem. First, technologically it begins “in the hand” with the mobile device. We will see far more shooting or projecting content from small mobile screens to bigger screens with ease when the opportunity is available to do so.
AI and cognitive learning will use facial and object recognition algorithms in addition to sentiment, and emotion analysis to better “understand” the billions of videos that have yet to be added to the billions that already exist. Serving up the relevant content will have a different and evolved user experience. It will solve the “finding a needle in a haystack” issue that is looming.
Audiences will get one of the biggest and most impactful doses of innovation. “Listening to” and understanding the people who watch the content before ideas are birthed, products created and content scripted, will lead to a significant increase in success for brands through audiences connecting with content rather than merely being disrupted by it. Data will continue to be the centerpiece for success, and data will scale in informing and collaborating with creative, driving far more interesting and successful content, experiences and ventures. It will hit the main stream far deeper than what we are seeing in the successes of Netflix and others. Brands will have the chance to get closer to their audiences emotionally than they have ever been.
Audiences will continue to “engage” with video content rather than “watch” it which means that the meta data surrounding content will be evaluated in ways it currently isn’t (a ThinThread approach) in order to understand its relationship to its audiences. This will likely create incredible insights and opportunities.
Innovation will create new beneficial deal structures between creators and brands. It will drive new video content forms and formats, show formats, engagement while viewing, live streaming and more. Because of the continued convergence of video, VR, mobile, music, fashion, TV, live streams, games and social, new creator brands will emerge that will stretch across these media and multi-medias, delivering completely new experiences.
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