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The Online Video industry is exploding! ComScore reported yesterday that a record 10 billion online videos were watched in December 2007. The reasons that most contributed to this unbelievable growth were

• The stale and boring programming on broadcast television (caused by the WGA strike and Television’s uninteresting and stereotypical programming).
• The increasing popularity of online video sites.

YouTube was the top site within the Google family. It captured more than 97 percent of videos watched on the Google video sites.

This table gives numbers on Unique Video Viewers.

141 million Americans headed to the Web for videos, says ComScore. The top 3 players were -

• FIRST : Google/Youtube was first with 79 million unique viewers.
• SECOND : Fox Interactive Media was second with 43.9 million unique viewers.
• THIRD : Yahoo Inc. was third with 38.2 million unique viewers.

Other Interesting Stats for the month of December 2007 -

• The average viewer consumed 3.4 hours of video during December’07.
• The video consumption of an average viewer increased 34% in the last year.
• The average video duration was 2.8 minutes.
• The average viewer watched 72 videosin December’07.

This table gives numbers on Total Videos viewed.

The most interesting questions to ask would be :

• How can these videos be monetized effectively?
• What advertising model should be used that would best suit online videos?
• Can we advertise smartly enough to avoid taking online video back to the time of annoying television ads.
• Is anyone up for the challenge?