Online Video Ads - Are they the future?
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Recently Interactive Avenues whose management team boasts of the veterans of online advertising came out with click to play online ads powered by google. Interactive Avenues has started off with 30-second TVCs for WorldSpace Satellite Radio, General Motors and HDFC Standard Life on Indian websites. These video ads are visible to visitors from India on relevant niche content websites such as agencyfaqs.com, mouthshut.com, moneycontrol.com, Modifiedcars, Conceptcarz and Ultimatecarpage. The video ads are unique because unlike the ads on The MSN India homepage these ads are user initiated and also have an option for the user to be taken to the advertisers web page. (source: agencyfaqs)
While its easy to brush this off as just a fad as video ads requires better internet connectivity like broadband which though growing still isn’t in large numbers in India. But the following figures (though international) still point a to a positive future for online video ads.
From October 2005 to March 2006, the number of Internet users watching video online increased 18 %, while the average viewing time per user rose 18%, according to ComScore. The trends we’re witnessing indicate that online video is emerging from its infancy and entering the mainstream A report by research firm eMarketer predicts video advertising will grow 71% this year to $640 million. By 2010, the number is expected to hit $2.3 billion, that is 8 % of the $29.4 billion. Online video is the fastest growing segment of the $16.7 billion Internet advertising market.
Also another indication that people would be willing to view video ads could be because of its short duration as only one in five online video viewers has watched or downloaded a full-length movie or television show, according to a new AP-AOL Video poll.
The AP-AOL Video poll of 3,003 adults, including 1,347 online video watchers, was taken by telephone July 27-Aug. 9. Although US centric these figures should be taken seriously as they show behavioural patterns of online video viewers which in turn is applicable to online video ads.
Overall, more than half of Internet users have watched or downloaded video. News clips were the most popular, seen by 72 percent of online video viewers, followed by short movie and TV clips, music videos, sports highlights and user-generated amateur videos.
Among other findings:
• Users of online video are drawn to its convenience and accessibility, but the bulk of them say their television viewing habits remain unchanged.
• One-third of video viewers — higher among high-speed Internet users — say they watch more video on the Internet now than a year ago.
• Urbanites and suburbanites — who have high-speed connections at home in greater numbers than rural residents — are more likely to have watched video online.
• Forty-six percent of video watchers with high-speed service view video at least once a week, compared with 22 percent of dial-up users. Dial-up users also were more likely to complain about download times
So though at its infancy statistics do point to a bright future for video ads all over the world and the initiative by Interactive Avenues shows that India is right on track as well.
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Social networking sites can also be organized around business connections, as for example in the case of HumSubka.com. It provides business community a full web page, with no charges, to display and market their products and services with unlimited pictures and features description. Above all, the advertising companies can now develop the audio & video clips about their products and upload the same under their respective public profile page to promote a particular brand. This would certainly reduce the advertising cost and will boost the awareness amongst the web surfers for the brands available in the market. Social networking websites, like HumSubka, have initiated a revolution in the advertising world by providing a lucrative and cost effective medium for the sm ll as well as medium scale businesses.