Companies streaming videos online are showing an exponential increase in usage. Year on year the figures keep rising. Two key contributing factors are:
• Better broadband speeds
• Development of efficient backbone networks that speed delivery of content by providers
The future of online video for business will surely continue to increase. This market is truly lucrative and has been compared by some to the dot com boom of 2000.
Within the UK, our digital industries pull in around 10% of the country’s GDP, which equates to the princely sum of approximately £130 billion. With the digital economy employing near to 2 million people, this represents nearly 6% of total UK employment. The UK also has the largest creative sector within the EU and is a real force within the global market. The demand for creative content is also a growing industry, in particular, content in English.
The Prime Minister just announced his ambitions to make the UK have Europe’s best superfast broadband by 2015 and also, to turn a corner of east London into a Tech City. The UK’s answer to Silicon Valley.
Some Interesting and Relevant Stats from The Oxford Research Agency:
• 85% of the UK is now online
• A Third have uploaded to a Video Sharing Site
• 85% watch Video Clips Online
• A Quarter write Blogs
• In the Past Year the number of people watching TV Online has grown by 600%
• 78 of UK user look online before making a purchase
All these contributing factors make the future of creative online content creation a veritable gold mine. Figures show that this growth is set to continue by an estimated 4% each year.
The future of the internet will mean that every user can become a multimedia producer. It has never been easier to produce a whole variety of media from publishing pictures, video recordings, slideshows and podcasts. It is also just as easy when it comes to uploading content and of course sharing which is inherently what makes online communities so popular.
Content distribution will be available over a whole host of networks; this streamed content will be available on everything from mobile smart phones to high-definition home theatres.
A full integration of all our online media is just around the corner with everyone wanting everything in one location, storage and distribution will be effortless.
Many businesses are slowly coming round to the fact, that they may be better, to move with the times rather than hold off any more. We can expect to see a vast increase in video streaming suppliers and content creators. TV as we know is slowly making way for a more interactive and connected internet TV platform. Television advertising revenues in the UK are showing a continued decline. The rate of revenue in 2009 was down to £3.54bn, to put this in context this was lower than the market in 2003.
As the UK technology industry continues to grow this can hopefully act as a catalyst to help other UK businesses take advantage of a highly skilled local workforce and reap the benefits of this digital revolution.