The enonomy may be in a nose dive, but that doesn’t mean online video is on the decline. In fact, according to some analysts, online video is benefitting from the current market climate. Business of Video had this to say on the topic:
I think it is also crucial for all facets of the online video industry to keep things in perspective and set expectations properly. For instance, at the beginning of this year it was all about how online video advertising was talking all this money from broadcast and print advertising. The death of every medium except the Internet was being predicted and as a result, people expected more than what was possible. The most aggressive prediction I saw was for online video advertising to be a billion and a half dollars in 2008. Now, at the end of this year, it looks like it will be more along the lines of $500 million. While there is nothing wrong with that number, even if it was a billion and a half dollars this year, that’s less than 3% of the entire TV advertising market, that the industry is predicting such immediate death for. Lets be positive and excited about the growth we have coming, but also be realistic.
Now is a time of growth, not decline. While the online video marketplace may still be in its infancy, this can be viewed as a positive position. We can hope that in the coming years, the shift between television and online becomes even greater, turning online video into the dominant force in the marketplace.
Hard Times Are Good For The Online Video Industry: Don’t Give Into The Scare [Business of Video]
