Jordan Hoffner, Director of Content Partnerships, YouTube gives the keynote presentation at Streaming Media West 2008.
The good news is that for all the people who have been developing products and services for online video, we are finally there – 11.4 billion streams per month. 3 out of 4 people who use the internet are watching video online. Access to broadband is exploding. The footprint is there for future success. Online video is in the fabric of consumer behavior – many people, young and old, would probably choose the internet over TV if they only could have one.
The bad news is that advertiser spending online is not keeping pace with users habits. With record traffic to NBCOlympics.com, the site only collected $5.7 million in ad revenue, or about 1.1% of this years $505 million total ad spending on NBC properties. People are spending more time online, but advertisters are not flocking there at the same rate.
The problem is layers deep.
