Trade Research offers a preview of his Internet Week Europe insights and explains why it’s all about short-form content

What is the most exciting new ad format? According to Patrick Hourihan, Trade Research, it’s short form content -- online video clips under five minutes -- and it’s currently being consumed by more than 25 million users every month. This is the focus of latest primary research project, which dishes up some weighty insights into how consumers are watching video content on the Web and how marketers can get a handle on this fast-moving area.
The role of the  Trade Research team is to carry out research that has real business impact and champions consumer voice in the U.K. And, as Patrick points out, they’re up for two awards at the Market Research Society Awards next month so they must be getting it right.
The Blog caught up with Patrick ahead of his session for Internet Week Europe: “ Are You Shortcasting?”, on Thursday, November 10.

Blog: What are the key trends that you and your team are seeing in the market that advertisers need to know about?


Patrick Hourihan: The UK is the leading digital advertising economy in the world in terms of share of total ad spend, and the area of digital that’s seeing the greatest growth is display, which is great to see for as a premium display advertiser. This growth in display is really being driven by both social and video; and with exclusive Premier League highlights content, we’re well positioned to help advertisers deliver powerful brand communications when positioned around premium content.

B: You're speaking next week about the advertising opportunities around short-form content. How is short-form online video growing?
PH: Short-form content has grown exponentially in the UK, with a 259% growth over the last three years, and more growth still to come. With this growth we are seeing an evolution in viewing behaviours but, importantly, what we are not seeing is cannibalisation of TV by digital video viewing. If anything, what we are seeing is a greater increase in all audio-visual consumption in the UK.

B: You have said that what we are seeing at the moment is the “genuine evolution from the Internet user to the Internet viewer.” Is Internet viewing behaviour now approaching the behaviour seen in TV viewing?
PH: Yes and no. Whilst the traditional setting for TV is still the “sit back” environment of the living room, we are seeing that multi-screen viewing is starting to increase; but rarely is that one person watching two pieces of audio-visual content at the same time. However, in terms of the choices that consumers are making and how they choose to click on the videos that they do, genre is playing an increasingly important part. This mirrors the TV viewing selection habits that consumers make. 2011 has seen the start to this alignment, with HD and 3D content emergent on the web and IPTV increasing in the UK. It will be interesting to see how the two platforms align over the next two years.

B: How have you found that people are consuming online video differently on different devices?
PH: It’s perhaps unsurprising that consumers engage with video content in different ways on different devices. This isn’t just due to the device itself, but the context within which viewers finds themselves on said device. For example, mobile video consumption tends to be more early morning and late evening, as this device has such an important role in the bedroom; whereas tablets are following similar patterns to laptop video usage, partly due to their similarity in terms of mobility. Video consumption on PCs tends to be more sought out -- that means that viewers will know exactly what they want to watch and actively go and find that content.

B: What do you think is the future of online` video?
Hourihan: With video ad spend doubling in 2010, largely driven by short-form content, the future does look bright, although this is dependent on media owners investing in premium content, as this is where the advertising opportunity lies. With the tablet market growing rapidly, mobile handsets and connection speeds growing, and newer video formats being launched all the time, this growth will not be linear -- meaning that there are a portfolio of opportunities available to brands and advertisers.

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