The end of the year is always a time for reflection. This year I left behind my life with a major online video sharing site and started working for a company that is just as enamored with online video but approaches the medium with higher expectations. If video sharing sites represent the youthful excesses in the life of online video, then the next iteration is all about online video growing up, taking responsibility and earning its way.
Here are my predictions for the coming year in Online Video. I hope you enjoy my perspective.
- Video Sharing sites will continue to grow in size but diminish in importance. In other words YouTube will be huger than ever but the story will be even more fragmented than it was this year. Apart from unpredictable viral hits like Susan Boyle, no YouTuber will ever again achieve the prominence that subscription grinders like Fred, Hot For Words and Michael Buckley have. YouTube has taken over from MTV as the number one place to watch music videos. YouTube is already more relevant as a search engine than as an entertainment destination site. It’s almost like Google could see into the future when they bought it.
- Some small and medium businesses (SMBs) will embrace video more than ever before. The cost of entry for online video has been so reduced that every commercial site will experiment with the medium. Most will do so with no way of measuring whether the experiment was successful.
- Some large businesses will continue to invest large sums in telling their stories with video. They will continue to be happy to do so despite not knowing how effective these videos are because however large the budget they are still cheaper than creating and buying airtime for TV ads.
- Some SMBs and some large businesses will demand that their investment in online video brings a measurable return. They will operate under the assumption that marketing spend needs to be justified and they will seek out video solutions that combine analytics with video creation and implementation. They will find such solutions and they will be very happy.
- Video will become a more important weapon in the affiliate marketer’s arsenal. As affiliates acknowledge the persuasive power of video over less dynamic media, they will push advertisers towards supplying video versions of banners and other collateral. Affiliates will be a major force driving video to becoming more accountable in the sales funnel.
- Everyone reading this blog will appear in at least one video posted on the internet between now and this time next year. Happy New Year.