Skip to main content

Combining Social Networking and Viral Video

Users who frequent social networking sites such as MySpace show a strong preference for online video, with 55 percent viewing streaming videos and 21 percent downloading long-form videos on at least a monthly basis, according to Parks Associates.

This correlation between social networking Websites and Internet video services is even more dramatic when comparing social networking users and non-users. People who visit a social networking site at least weekly are overall six times more likely to download long-form videos and 1.5 times more likely to view streaming Internet videos than are those who do not use these Websites.

"Whether the business model is free video streaming backed by advertisements or the sale of online movies and TV shows, social network Websites are well positioned to become strong contenders in the Internet video business," said Michael Cai, director of broadband and gaming at Parks. "On the other hand, online video Websites, if they are to be competitive, need to beef up their social networking features to attract and retain users."

Media companies with online assets also have the challenge of attracting older users, who are likely to have more disposable income but are not yet part of the social networking scene, Cai said. Currently, two-thirds of frequent social networking users are younger than 24, an age group that typically includes heavy users of digital entertainment. In order to approach older demographics, these companies need to seek alternatives.

"Social networking sites such as MySpace and Facebook are effective in reaching a young and dynamic Internet audience, but the question is what's next?" Cai said. "Besides monetizing their social networking assets, large media companies need to attract older demographics to social networking or leverage other virtual hangouts that appeal to older Internet users, such as peer-to-peer communities, which have a slightly older audience, or special-interest websites like iVillage."

I would add that online business networking websites, such as LinkedIn, are the place to reach the business professional segment of the marketplace with targeted video content. Short-form video content that resonates with current trends and market developments would be a very good fit for this audience. However, there's nothing really 'social' about the LinkedIn platform, since it's primarily designed to be a search engine for finding professionals and executives.

Popular posts from this blog

Global Digital Business and IT Consulting Outlook

Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth

Open Banking Usage to Grow by 470 Percent

The Open Banking business model has been advantageous for Third-Party Providers (TPPs), helping them to extend their offerings into other areas of financial services with new capabilities. Open Banking is also advantageous for traditional banking institutions, despite the perceived loss of custodianship over their data, by providing greater accessibility to more bank services. Furthermore, Open Banking can help serve Mobile Internet providers that are able to leverage it to create tailored services according to customers’ preferences and/or economic limitations. Open Banking Market Development Since traditional banking services are made more convenient by TPPs via greater data access, customers can proactively manage their finances and shape the development of new financial offerings. This is particularly noticeable in the realm of Digital Payments, where retail merchants and customers transact through eCommerce, which has the greatest number of use cases for Open Banking. These includ

Why Instant Issuance Payment Cards Evolved

The global financial services sector continues to grow as more progressive organizations seek to gain a meaningful competitive advantage from their digital transformation initiatives. Across the globe, many regions are seeing a significant rise in 'instant issuance' activity from a physical and digital perspective, from both traditional and emerging innovative banking institutions. Digital Payments Market Development Customers increasingly demand instant access to banking services, with physical instant issuance enabling them to leave their branch equipped with a ready-to-go payment card. According to the latest worldwide market study by ABI Research, the market for instantly issued physical payment cards will increase from 243.2 million shipments in 2022 to a forecast of 471.1 million in 2027. "Critically, instant issuance of payment cards is no longer limited to the physical," said Sam Gazeley, industry analyst at ABI Research . Indeed, the growing digitization of p