Live, long-form content drive soaring mobile video market
| 18 June 2014
Mobile video is continuing to gain importance for publishers as smartphone and tablet consumption grows while long-form is driving growth of over-the-top (OTT) consumption, the latest Ooyala Global Video Index has shown.
The premium video publishing, analytics and monetisation firm found that in the first quarter of 2014, smartphone and tablet viewing represented over a fifth (21%) of all online video plays, up from 3.4% in Q1 2012 and just over 9% in Q1 2013. With a year-over-year increase of 532% since 2012, Ooyala says that mobile and tablet video consumption is clearly becoming mandatory for any company in the video business, especially for mobile plays in Europe and Latin America which outpaced those in North America.
Even though the majority of all plays on tablets were short-form videos, viewers were found to have clocked 48% of their overall viewing time watching videos of 30 minutes or more. Viewing time of live video on connected TVs was more than 11 times more than video-on-demand (VOD) content and tablet viewers spent more than three-quarters of their time watching videos of at least ten minutes in length
Ooyala argued that such growth underscores the need for broadcasters and publishers to prioritise mobile strategies, and demonstrates the burgeoning opportunity for advertisers to reach device-specific audiences anywhere, on a massive scale. "The statistics in our Global Video Index continue to affirm our belief that mobile is in large part the future of video and TV consumption," said Ooyala chief executive officer Jay Fulcher. "We see the acceleration of mobile video consumption happening globally, as consumers in every region adopt mobile and tablet video faster, and interact with it longer. These insights validate the tremendous opportunity for broadcasters and publishers to tap into additional multiscreen revenue streams, grow and maintain loyal audiences across all devices, and build a fundamentally better video business."