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Over the years online video has evolved from nothing to attracting more than 800 million visitors per month, resulting in more than 4 billion hours of video viewed monthly.
Oh, yeah, thatâ€™s just YouTube.
Every second an average of 46,296 videos on YouTube are being viewed across the world. You see videos on blogs, websites and digital stores. Itâ€™s at the point where weâ€™re beginning to see eCommerce stores that have video product reviews producing higher conversion rates. A strong example would be Zappos, whoâ€™s killing it with 50k video product reviews. Thatâ€™s how you hit next level conversion rates.
Sure, there have been YouTube competitors like Blip.tv, Hulu and Vimeo that have got a little taste of the pie, but very few have what it takes to eat away at the market share of YouTube. YouTube certainly continues to grow in authority and its reputation, exploding since being acquired by Google back in 2006 for $1.65 billion only 18 months after launch.
Online video is also shifting from entertainment to education. There are plenty of â€śhow toâ€ť videos throughout the web, many of which are free online resources that can educate across a variety of subjects.
Agencies have begun to adapt their strategies to get the most video bang for a clientâ€™s buck. 30 second television ads are great, but theyâ€™re not viral. Online video has the potential of supercharging a brandâ€™s messages. Online video is a media that can keep giving through social media and sharing well after it was viewed on TV.
Not only that, but digitally there is a significant amount of attribution available through analytics, helping companies map out their most successful areas online. These learningâ€™s can then be applied to future campaigns. The Old Spice campaign is a well known example of this.
Check out the infographic below, itâ€™s a timeline of YouTube from launch to present day, including cool facts along the way. How often do you watch a YouTube video? Daily? Let us know below!