Top 10 Online Video Trends To Watch for in 2016

This short article below nicely frames the opportunity in mobile video, 360 video and Virtual reality that is about to explode in 2016. Brands should act now to gain and maintain competitive advantage in their markets by responding quickly, as it is likely that by mid to late 2016 even the traditionally "less nimble" brands will be focused on creating content in these rapidly developing spaces.

The article was written by Subrat Kar, the co-founder & CEO of Vidooly, a analytics company who help brands measure and grow their online video capability. The article was published online on inc42.com

Another eventful year in the world of digital marketing is coming to an end. The biggest talking point of the year of course was Video! 2015 has been the year when almost everyone started realizing the true potential of video. Online conglomerates that had never focused much on video were forced to turn their attention towards it; whereas those who already had video as a part of their overall vision were forced to fine-tune their strategy further.

Facebook started offering monetization to content creators, launched Live streaming for celebrities and supporting 360 videos. YouTube realized the potential of a growing market like India and launched its production facility called YouTube Space in Mumbai. In November, Snapchat revealed that an astonishing 6 Billion videos are being sent using its platform every day! Incredible statistics were being tossed around every day! New product tweaks and announcements to accommodate videos better, had become the norm!

We, at Vidooly have been keeping a close watch on all that’s happening in the world of online video, and to help you get a head start for the coming year; in this blog we list down the top online video trends that you can look forward to in 2016:

Internet Will Outshine Traditional TV

According to a recent report by PricewaterhouseCoopers, around 20% of all cable customers in the US are going to join the cord cutting trend in 2016. For the uninitiated, Cord cutting refers to viewers cancelling their subscriptions to Cable TV. The major reason behind this trend is the lack of choice that users face while selecting the bundle of programs/channels of their choice. As the quantity and quality of content available online has steadily increased in short-form video platforms like YouTube and long-form platforms like Netflix, consumers now have more choice than ever before.

The number of regular TV viewers has been in decline in countries like France, Russia and China as well. Walt Disney and ESPN have already witnessed this first-hand: ESPN reportedly lost 7 million customers for its cable channel in the last 2 years!

Online video distribution is probably finally set to overtake traditional TV broadcast in 2016. Chances are, far more people will watch the 2016 Summer Olympics through the web than through the Television!

Mobile Video

According to a recent Comcast report, YouTube’s video app has earned the second most unique visitors year over year with only Facebook ranking higher. Also, those who watch YouTube videos on mobile devices spend nearly 9 hours per month on the app; which is almost double that of the figure about a year ago. These are clear indicators that this will only increase in 2016 as well.

During Fortune’s Brainstorm Tech Conference in July, YouTube’s CEO Susan Wojcicki was asked about the top 3 priorities for YouTube. And she famously answered – “Mobile, mobile, mobile.”

So, the writing is on the wall – In the already crowded online video marketing space, only those brands that adapt their strategy to mobilewill survive.