Here are some undeniable powerful stats that demonstrate how fast and massively online video growth is happening right now:
-- the number of U.S. households that watch online video on TV sets is now up to 32.1 million -- nearly 50% more than same time last year (when that number was 24.8 million) (SOURCE: Forrester)
-- by 2016, over-the-top (OTT) and streamed video services will be worth $11 billion and will overtake spending for current cable TV subscriptions (SOURCE: PwC)
-- the number of online video consumers worldwide will double by 2016, growing from 792 million last year to 1.5 billion users (SOURCE: Cisco)
-- for the first time ever, long-form video (i.e., over 10 minutes in length) represents the majority of all online videos viewed, meaning that consumers are now certainly very comfortable watching full-length movies, TV shows and sports online (SOURCE: Ooyala)
Is that enough for you? Want more?
We got 'em all at (CAUTION BLATANT PLUG ALERT) Sorenson Media. We are right in the thick of it all -- since every single video you see online must be transformed/optimized for delivery to your relevant screen. And, due to this massive growth in online video (which is still in its very early innings), we are increasingly seeing these video workflows (in which this transformation occurs) moving to the Cloud. We have led that charge, and we intend to continue to be leaders in providing leading Cloud-based video workflow/transcoding solutions.
Peter Csathy's Digital Media Update
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