Currently 2.7 billion people watch videos online daily: almost half of the global population. 5 billion videos are watched daily on Youtube alone.
The market volume of online video was about $25 billion in 2016, and will be $30 billion by 2018. Including advertising revenue, the online video streaming industry worldwide is worth hundreds of billions of dollars. During the last 5 years, from country to country, average growth has been 15-30%. At the same time, traditional television is stagnating and its percentage of total video content is constantly decreasing.
Broadband video will grow from 17% of total viewing minutes in 2015 to 38% by 2025, according to The Diffusion Group (TDG). By 2020 more than 80% of internet traffic will be video. End-users (individuals) make up a significant part of the growing community of video consumers. However, rapid growth is not only due to the consumer segment. The video sector is building confidence in the industry; an increasing number of companies are using video to promote their products, services and brand.
By comparing the advertising budgets of TV and YouTube, Google has claimed that YouTube ads generate a better return on investment for brands most of the time. The Internet giant has unveiled a report analyzing ad campaigns across eight countries that show in 77% of cases YouTube ads were far more effective than TV ads in driving sales. Google’s analysis of 56 case studies from brands within six different types of industries suggests advertisers will be allocating up to six times more of their budget to YouTube than they currently do. Viuly, the world’s first blockchain-based decentralized video platform will tap into the exponentially growing global video sharing market. The platform will reward authors users and advertisers alike, while eliminating middlemen and access restrictions altogether.