OPINION: Is online video too limited in content and audience?

Video might have killed the radio star, but what will happen to TV with the onset of online video?

Take Singapore, for example. We all know that Singapore TV viewership is slowly declining, and some suggest quicker than the officially released figures. But is the online video market ready for the potential shift in client spending, and are Singaporean viewers actually interested in online content?

First, lets look at online viewership, which currently stands at 2.7 million video viewers a month, with a growth rate of more than 18 per cent a year. Of this total viewership, 2.1 million of those views are actually on YouTube, which, since the launch of its Singapore domain, has seen a huge increase in content and advertising dollars.

Video viewership in Singapore seems fairly addictive, as the average person accounted for 160 video views in April 2012. This is no mean feat when you consider the fragmenting media world we live in today, where our consumption of individual media is becoming patchy and at times irregular.

So if we accept the ComScore State of the Video Market¹ figure of 2.7 million viewers, can we accept that the content itself is of value to advertisers? Indeed, is the content being viewed something that brands want to sponsor and be associated with?

We have three forms of video content: long-form catch-up content, medium-form video content and in-banner video (which is pushed to an audience based on demographic and user behavioral data).

Let’s tackle the long-form content, which is quite frankly an obvious addition to your TV campaign, allowing a brand to gain incremental reach and frequency. The second option of medium-form content is slightly harder to quantify, as the content is potentially weaker in terms of production value and brand safety. However, with the introduction of stronger guidelines and software designed to weed out illegal content, we have seen an explosion in adequate inventory. And let’s be honest, most content is music related, which is perfect for brands focusing on the younger target audience.

Finally, we have the near unlimited supply of in-banner video content that pushes video across sites. This form of video delivery is not necessarily a video property, but more a creative execution that gives advertisers a way to reach an audience that doesn’t consume video through players such as YouTube or XINMSN catch-up TV.

So where does that leave the media industry? Well I could finish with a comment designed to poke fun at our TV teams, or I could finish with a comment pushing clients to buy video online. Instead, I’m going to say that it depends on the brand and audience you wish to reach. But that’s no excuse for agencies or clients ignoring the fact that online video could indeed be killing the TV star as we speak.

¹ComScore Video Metrix, Viewers Age 15+ Home/Work Location, Apr-2012 and Comscore Sept 2012