Online video will take 'significant market share' away from traditional broadcast in 2013
Online video will "take significant market share from [the] traditional broadcasting market" in 2013, according to seven predictions for digital media released by researchers Frost & Sullivan.
The increased presence of connected devices--smartphones and tablets in particular--will accelerate the move away from traditional couch potato TV viewing and towards "much higher levels of multitasking," the predictions said, according to a story reported by Advertising Age.
Much of the impact of this change will be felt within the advertising space, where "advertisers in 2013 will be attracted by the greater targetability, personalization of ads, reach to non and light TV viewers and interactivity that online ad-serving platform solutions offer over conventional advertising channels," Phil Harpur, Frost & Sullivan's senior research manager, told the magazine.
The changes in the TV space are more reactive than proactive, the report suggests, based on new viewer habits fueled by new devices.
"As behavior patterns become more entrenched over the next few years, the impact on consumer behavior is expected to increase significantly," the predictions list states. "Organizations now recognize that they risk failing to connect with significant online audience if they do not incorporate social media into their marketing strategies."
Online video advertising, the predictions conclude, is "increasingly being perceived by both advertising agencies and large brands as a crucial part of the overall advertising mix."
- Advertising Age has this story