TV May Be Powerful, But Online Video May Soon Be Historically Influential
The New York Times recently published an interesting article on the effectiveness of television advertising during a time when network television narrative audiences are growing smaller and smaller, while the price of advertising remains remarkably buoyant.
“At a time of ever-atomizing audiences, broadcast television’s slice may be smaller, but it is still the biggest slice. Think network television is washed up, overwhelmed by targeted and measurable ads on the Web? How is it that Apple, a tech company, and by the way, probably the most talented marketing company on the planet, is all over network television right now? And remember the movie industry is having a big year with big movies, using, yes, network television to drive people into theaters.1”
Aiming for the biggest slice of the marketing pie is great if you are company such as Apple or a large Hollywood Studio, but for many companies, this slice of the pie is often too expensive to utilize effectively. Yet, there is another marketing service which allows you to reach just as large, if not larger, an audience for a fraction of the cost.
“According to a new report from social media research consultancy Trendstream and research firm Lightspeed, over the past three years online video has perhaps become the fastest growing medium ever…In one week in January, 97 million Americans viewed a streaming clip online — as many as are tuning into any major broadcast network — according to a recent survey of 1,000 U.S. active Web users ages 16-65…With users from across the age spectrum watching, creating and distributing video content online, the so-called “digital divide” is not as wide as might be expected.2”
Television advertising obviously still holds tremendous value, but there are alternative marketing services which can help companies of all sizes reach the masses for almost no cost. Beyond that, online videos have a knack for becoming viral and spreading to new audiences, as 39% of respondents in the study shared a clip online 3. It should be interesting to monitor the effectiveness of television and online video as mass marketing tactics over the next few years. However, it is clear that right now, a large a slice of the marketing pie is out there for anyone for the taking.
1 David Carr, As TV Dwindles, It Still Leads, 2009, http://www.nytimes.com/2009/05/25/business/media/25carr.html (May 2009)
2 Gavin O’Malley, Report: Online Video Fastest-Growing Medium In The History Of The World, 2009, http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=106910 (May 2009)
3 Gavin O’Malley, Report: Online Video Fastest-Growing Medium In The History Of The World, 2009, http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=106910 (May 2009)