Here’s a shocker–the majority of shows on TV are boring and cable is expensive.
It’s no wonder then that consumption of online video has gone up significantly as less and less people watch TV. Ipsos MediaCT conducted a study involving 1,102 early adopters who currently stream and download video online. From February 2007 to February 2008, video consumption from television went down 7 percent in just one year among this group. Video consumption online went up 72% in the same time period.
What is surprising about this study? The phenomenon of turning online for entertainment is not isolated or driven by a few select demographic groups, but rather is relatively consistent across all age groups and genders.
Now the bad news. Online media doesn’t pay. According to an article done by the Silicon Valley Insider, YouTube paid one of the most successful artists in YouTube’s partner program just $1600 for over 2 million views. So although being a YouTube celebrity may be fun, it’s not going to pay the bills at this point.