Research: Online video to replace TV in Canada?
The first-ever study on Canadians’ viewing habits of online video conducted by Ipsos Reid and M Consulting finds 80 per cent of all Canadians indicate watching some video content online. Among those that have watched video online 41 per cent watch more online video content than they did last year. A growing audience means a bigger business opportunity for brand marketers and the Canadian film community to produce original online video content.
“A loyalty of sorts is being developed for online video,” says Bill Mohri, president of M Consulting who commissioned the study, which will be unveiled in full at the MergeMedia: Online Branded entertainment conference on October 22. “There is the potential that a critical mass of Canadians could be watching more online video than TV much sooner than experts predicted.”
The study found that people who view online video at least once per day are more receptive to branded entertainment, with 18 per cent indicating positive purchase intent for brands that have developed entertaining content online.
“It’s clear that brands have an impact with more frequent viewers of online video. It’s a more engaging, interactive medium,” says Bill Mohri. “Brand marketers and content producers need to pay attention to this growth area because it’s much less expensive than TV advertising and has real potential to reach consumers more effectively than TV.”