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This is from a recent edition of the leading international magazine, the Economist: In 2007 TV will have its first “music moment”—the realisation that a core audience (the 18-34-year-old male) has moved online, possibly for good. The rise of YouTube and an army of other free video-hosting services has created a phenomenon of short, user-created videos. These clips are creating a new kind of watching experience, one more about “snacking” than half-hour sitcoms. They spread virally, by e-mail and blogs, rather than with billboards and prime-time scheduling. And, most worryingly for the networks, they are not accompanied by 30-second advertising spots, or any other advertising at all. This is television, but not as we’ve known it. Today YouTube streams more than 100m videos a day, which gives it an audience nearly as big as America’s largest TV networks. Every day its users upload more than 65,000 new videos, ranging from clever animations to silly pratfalls, with a lot of home-video-quality stuff in between. Much of this is the sort of homebrew content—amateur fare with matching production values—that the television industry has long scorned as no competition for its polished dramas. But it is turning out to be spectacularly popular all the same. The video diaries of Lonelygirl15, done with a $150 webcam, attracted an audience of millions drawn to the authenticity of a home-schooled teenager baring her soul (which made it all the more ironic when she actually turned out to be a promotional project for some aspiring film-makers). And the self-made YouTube music video (using eight treadmills and some very creative choreography) of OK Go, an indie band, was so popular that it got them a starring turn at MTV’s annual music awards show. The full story by Chris Anderson in the Economist is a must read for anyone interested in video on the net. Chris is Editor In Chief of Wired Magazine and the author of the seminal book on internet marketing The Long Tail. |