OZ Online Video Market Boom
Australia’s online video market is being driven by the boom in mobile devices and tablets as Gen Y prefers online video channels to watching the good ‘ol telly.
Analysts Frost & Sullivan predicts online video ad spend to be worth $513 million by 2018 -a five fold jump on current spend.
There was a 2% drop in Aussie viewers who watched shows or movies on a TV screen once month.
But still, almost 90% of consumers still do watch TV a big screen.
One in four (24%) now view content like YouTube on tablets and smartphones
Almost on in three smartphone viewers watch user generated content on most days.
Live and sporting events and news will be a key driver in taking the online video experience to a mainstream audience, says Phil Harpur, Senior Research Manager, Frost & Sullivan.
“Watching live news on devices while commuting on a train, is becoming more common and offers a real substitute to the TV lounge room viewing”.
“Larger and higher resolution smartphone screens has improved the viewer experience significantly, whilst monthly data cap limits offered by mobile operators have risen significantly”,
“Video content produced in HTML5, which is platform independent and works seamlessly across all devices, overcomes barriers to watching some forms of video content via online channels on certain devices.”
Multi-tasking is also the name of the online video game – almost 505 of tablet owners also use their tablet whilst they watch traditional TV, most of the time.
Mobile apps linked to TV shows such as State of Origin Football also is a new way to view content.