Video is the New Document
More and more, video is replacing text-based and document-based communication and collaboration, but today’s existing platforms are not suited for managing, searching, and publishing video. Video is often stored in disparate locations and lacks the metadata that makes documents searchable in content management systems. Employees also expect YouTube-like experiences for publishing and sharing video, while the business must make sure sensitive & proprietary information doesn’t “escape” the corporate walls.
2014 has been a monumental year for online video. YouTube surpassed Facebook as the number one social media site, online video in the U.S. reached 78.4%, and video ad spending increased 56% to $5.69 billion. 2015 is also looking bright for online video as eMarketer predicts that the U.S. audience for digital video will pass 200 million in the coming year.
The streaming video-on-demand (SVOD) market is well established in the US and is set to take off in Australia with the arrival of US giant Netflix in March 2015. According to consumer group Choice, 684,000 Australian households already pay for video on demand content through overseas subscriptions with 340,000 of those subscribed to US Netflix through virtual private network (VPN).
SVOD services do exist in Australia, the most popular (and similar to Netflix) is Quickflix. Other platforms to join the market are Foxtel Presto and it’s believed Network Nine, Seven and Ten are looking to launch Netflix rivals.
Internet Protocol TV (IPTV) is another way Aussies get video on demand. IPTV is a service that uses the internet or a local area network (LAN) to deliver TV services, rather than via cable, terrestrial or satellite. Think YouTube, ABC iview, Tenplay etc.
On demand content is an extremely powerful tool for businesses. On-demand audiences are captive and hungry for quality content. Platforms like YouTube, allow organsiations to have their own dedicated ‘channel’ that audiences can subscribe to. Brands that cultivate their channels and think like broadcasters will build far closer relationships with customers in 2015.
With nothing but growth expected for the online video market in 2015, it’s time for your enterprise to start adopting some resolutions to make your videos more engaging and discoverable.