In 2011 there are 1000's of video based websites including YouTube, Vimeo, Dailymotion, and Metacafe. Nowadays it's almost unusual if you haven't viewed an online video in the last 1-hour, be it an advertising banners, music video or some sort of must see viral. Through this we have seen the gap between video production companies and home enthusiasts disappear. Now we have marketing agencies trying to produce online video production that looks amateur and fit in amongst other widely shared content.
These days an average of 780 hours of video is uploaded to YouTube every hour and I guarantee this will only increase. A recent study from F.N Magrid Associates has stated that 5 percent of "onliners" view video content daily, while 24 percent weekly and 26 percent view it once a month.
So what's the future for online video production? Something that's becoming more and more widespread amongst the corporate world is "Webinars." T his is when an individual or business can set up a video conversation with their network including Facebook friends and Twitter followers at a given time live. The broadcaster is streamed direct to a participant who can then share the feed and interact with the conversation adapting and creating content as they go. Also the concept of a virtual living room will become standard place, whereby instead of going to the cinema we will be able to watch films together but not in the same room. Sites like EpixHD are working on a feature that allows users to invite their friends to watch a movie in real-time while they can instant message each other during the film. We might also see the comments that appear under an online video start to feature on the screen whilst it's playing, this has been coined vommenting.' Which is basically commentating on what is happening in the content of a video at any specific moment; similar to what Soundcloud have done with their timeline comments.
Within 10 years online video production will be the most influential and available form of communication since printed text! The tools for recording video and the means of getting it online will only get cheaper and faster making online video more and more predominant on the web. I would ima gine that devices such as camera phones will become further interconnected so you can stream or embed footage to a friends device or direct to a website in real-time.
In 2010 the online video advertising market hit $2.5 billion with no sign of stopping due to Ad-marketing executives now understand how engaging and direct the medium really is. Online video ads have emerged as a big revenue stream for video sites and a great way for brands to target they're chosen market. For instance if a promoter wants to advertise their next event with Napalm Death headlining at Brixton Academy, what better way then to advertise on all Napalm Death music videos viewed from London based IP addresses?
Where does it go from here? Well, we know more and more people are uploading their own content, while our attention is being taken away from the TV and on to computer screens and mobile devices. You can pretty much guarantee then that your own innocent online video product ion about a trip to the zoo will be encoded with advertising about something relevant to you and your peers. All advertisers have ever wanted to do is interrupt what your doing and say "HEY, CHECK OUT THIS NEW RAZOR!" and if all you want to do is network and interact with your friends then that's where they'll be waiting.
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