For sometime it’s been suggested that YouTube is capable of killing off traditional TV. But what does the data say? Internet based entertainment, with a particular emphasis on video production, is growing at an explosive rate. This is working for marketers on two levels; firstly it’s enabling them to engage viewing audiences in their droves and secondly it’s making a tonne of cash. However, the TV is not dead yet and doesn’t seem to be slowing up anytime soon. Despite the rapid rise and growth of online digital video, the TV still comes out on top in certain areas.
Whilst YouTube is still growing at an extraordinary rate; there is still a lot of value in traditional TV. If you examine the monetisation of two of YouTube’s biggest stars, they still only make 41% of what Ashton Kutcher makes on an annual basis. Lewis Brindley and Simon Lane make $6.7 million from their YouTube channel, whilst Kutcher raked in $16.1 million for recording 23 episodes of two and a half men.
When you consider that the top grossing YouTube stars are basically amateur broadcasters with no formal training, qualifications or expertise, it’s actually quite impressive when compared to someone like Ashton Kutcher. The mobile stats are seriously compelling, with over 1 billion YouTube videos being watched via smartphones and tablets everyday. So in the future, will YouTube devour traditional TV’s market share? Or will it take a company like Apple to create the next generation of web enabled TV sets?
Whatever your viewpoint, one thing is clear – people love consuming TV and video content, increasingly via mobile. As marketers and business owners we need to generate content that our customers love and make it easy for them to consume video. Video is the future of marketing. As marketers, we must understand the crucial importance of video’s importance in the future. If you’re seeking to create killer, engaging video content, but don’t know where to start, contact us today.