A new study from eMarketer shows that multiscreen viewing habits are on the rise. eMarketer estimates that the number of people watching video content each month online will show a huge increase between now and 2015. eMarketer senior analyst Lisa E. Phillips says, “Consumers are not ready to go over the top, but they are edging closer. They care most about convenience, cost and choice, and are interested in viewing options to the extend that they fit in with those demands.” It looks like more and more these demands are being met by online video.
According to the eMarketer report, there were 145.6 million US online video viewers in 2010. This year that number is expected to rise to 158.1 million and by 2015 to 195.5 million.
Of those 195.5 million, 99.2 million are expected to watch television shows online. This year, 2011, eMarketer expects 69.4 million to watch TV shows online at least once a month, which is a big step up from the 54.5 million that watched last year. A major contributor to this boom in online TV consumption is the increased number of people who are purchasing connected TV sets and using the internet on their television sets through game consoles and other means.
The eMarketer report also noted that with the increase of online video viewers will come a surge in online video advertising spending. This year advertising spending for online video is predicted to fall around $1.97 billion. eMarketer predicts that this will rise to a whopping $5.71 billion in 2015. Phillips says, “There is no one-size-fits-all approach to advertising around video content, given the myriad devices and demographics that are intersecting. Brand marketers need to know their target audiences expect to be entertained with strong creative.” I for one hope that by the time ad spending gets up to $5.71 billion that online video advertisers will have learned how to entertain and engage with their online video ads!
Are you surprised by eMarketer’s estimates? What are your hypotheses for online video in 2015?