now have something in common: the number 24. Today on its blog,
a major milestone. Every minute that goes by, an entire day of video is added to its site. Yes, you read correctly: 24 hours of video are now uploaded to YouTube every 60 seconds. Since being founded in early 2005, the site has been the market leader in video sharing and consumption online. With a
market share of more than 73%
, the service has been dominating all other online video competitors in the battle for online video consumers.
YouTube's Marketing Impact
The steady rise in consumer-generated video provides both opportunity and challenges for marketers. While an abundance of online video means more choices for consumers, it also means more noise for marketers looking to get their messages heard. While more user-generated video creates challenges for marketers, it also suggests several key opportunities:
User Generated Video Contests
-- With people becoming more comfortable uploading video online, it creates an opportunity to
video creation around brands. In an online video landscape that is competitive, it is hard to make a dent with 1 video; however, 1,000 videos drastically improves a company's opportunity to be seen. It is likely that more businesses will work to leverage brand advocates to
create compelling online video
mproved Advertising Possibilities
-- The online video advertising model is still young, and people are still trying out approaches to create the best results for advertisers and consumers. As video production continues to increase, marketers may have the option of more targeted advertising opportunities.
Video Becomes an Important Part of Content Strategy
Creating online video
sometimes can be expensive and take much longer than writing a simple blog post. However, with video becoming a growing slice of the online content pie, companies need to plan for incorporating video as part of online multimedia content strategies.
Where do you think YouTube is heading next? Will it service up to 30 hours per minute by the end of the year? As a marketer, how do you feel about online video?