Online video has often been heralded as the next big thing for online advertising, yet sceptics question whether the demand is there for it to really take off. Recent research amongst young adults, the early adopters of technology, indicates its well on its way to becoming a mainstream entertainment medium.
The Young Adults Revealed study conducted by Synovate, in association with Microsoft, reveals the that online video is already playing a central role in the entertainment schedules of young adults around the world, with almost three quarters (73 per cent) watching video clips on a monthly basis and 42 per cent regularly using a PC and internet connection to watch TV.
Short video clips remain the most familiar form of online video content to most young adults, with just under three quarters of those surveyed having watched them. However, streamed TV and film content had also been watched by over half (57 per cent) showing the growing acceptance of the internet and PC as a medium for full-length video.
Most rely on popular sites such as YouTube as their trusted source of video clips, with 30 per cent accessing video in this way. Search engines were used by 27 per cent while recommendations from friends via social networks and Instant Messenger accounted for 20 per cent. Comedy (81 per cent) and music (73 per cent) dominate as the most popular categories of short clip, yet over a third also watched advertising or product-related clips on a regular basis, demonstrating once again young adults’ willingness to engage with brands online.
Advertising and product clips also scored well when it came to young adults’ choice of video to upload: just shy of a quarter (24 per cent) had uploaded them to a video sharing or social networking site, compared to 30 per cent for funny clips, music clips and video featuring friends. The challenge for advertisers is to identify the key characteristics that encourage their branded messages to be shared in this way.
Interest in product and marketing clips also appears to reflect acceptance of online video’s commercial potential. Almost half (42 per cent) had watched an ad before watching video content, showing significant uptake for the pre-roll ad format.
The growth of online video to encompass full-length TV and films has had significant repercussions for young adults’ media consumption patterns. Online TV and film content is watched by 65 per cent every week and 26 per cent every day, with one in seven 18-24-year-olds now abandoning live TV altogether. Amongst streamed video content, films were the most popular category, watched by 49 per cent, followed by comedy and music on 41 per cent and sport on 26 per cent.
To young adults, the idea of waiting for a schedule to present them with the video content they want is increasingly anachronistic. This generation demands immediately satisfying ‘TV’ content whenever it suits them. Online video is perfectly positioned to be the format that delivers it.
Overall, online video is proving increasingly integral to the entertainment lifestyles of the traditionally hard to engage young adult generation and offers brands a chance to get in front of this target audience in a relevant, engaging and exciting way.
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