The last time I sat down and "watched TV," was technically yesterday - but was I solely just watching TV? Of course not. I was surfing, working, reading, failing miserably at Scramble with Friends. Unless I'm watching a really great show, TV for the most part is just background noise. Sitting there idly with nothing to occupy the other half of my brain now feels completely unnatural.
It almost makes you feel sorry for your TV. It is now just a box, or these days a flat rectangle, putting on a show to a largely uninterested audience. While you stare at your "second screen," it's staring at you, just begging for attention. Unfortunately for the tangible TV, things aren't going to get any better. But for conceptual TV, business is booming.
TV now represents quality content, not electronic equipment. "What it is useful for is a symbol of the quality bar -- what content stands up to the best of what was on TV last night?," Hulu SVP-Content Andy Forssell told AdAge. For example, Netflix has resurrected the show Arrested Development, originally cancelled in 2006, and will be releasing a full season for Netflix subscribers. Arrested Development has a dedicated cult following, and is probably best known for being cancelled too soon. Netflix is doing it their way and releasing the whole season all at once. And if you're still sceptical about this whole online TV concept, last Sunday HBO released two of its anticipated series premiers, Girls and Veep, on YouTube. YouTube! For free!
The level of engagement for online content is also significantly higher than that of traditional TV. Viewers usually choose to watch specific online content, while many traditional TV viewers are passively engaging. What does this mean for brands who primarily rely on TV advertising? It means it's time to wise up and invest in video advertising. According to eMarketer, video ad spending is poised to jump 40% in 2012, equating to $3.12 billion. By 2016, sales are expected to grow to $9.3 billion. Quality content aside, people are watching more than 3 billion YouTube videos a day, which should be proof enough that it's prime time to jump on the video advertising bandwagon.
