Streaming is going mainstream, declares recent research from the Cisco Internet Business Solutions Group . Cisco surveyed over 1,000 video-watching consumers and found that there’s a strong demand for streamed multiscreen content. Among U.S. viewers, 70 percent watch premium online video each week, averaging over 100 minutes per week.
While free options are clearly the most popular, viewers will open their wallets if they feel what they’re getting has enough value. For companies trying to make money from online video, Cisco says these are the areas to focus on:
- Convenience and quality: Viewers still have the perception that online video is lower in quality than video from other sources, like television. Maybe they’ve seen too many cat videos. Still, when they find high quality content and they’re able to access it wherever they like, they’re willing to pay.
- Devices: Mobile devices get a lot of attention when it comes to online video, but the devices that people use most often for streaming are the game consoles and set-top boxes attached to their televisions. Viewers expect to watch more on their tablets or smartphones over the next few years, though. Give viewers a simple multiscreen experience, where they can watch video on whatever device they like.
- Content: If you’re going to sell to viewers, you have to give them a wide range of options. Cisco found that people prefer watching premium TV content by a wide margin, followed by movies, music videos, sports, and other events.
The online video world is growing quickly, and there’s still time for young companies to find an audience. Cisco found that 27 percent of online viewers would buy more video if they had a trustworthy online service. Give the people what they want and focus on the differences that matter.