Allaire pointed out the rapid growth of online video in 2010 grew to a staggering 30 billion monthly views, and is now more than 50% of Internet traffic in the U.S., and it's estimated that it will will grow to 90% by 2013. Some of the key drivers fueling that growth are ad supported online video, which continues to grow faster than any other area of online advertising, and also the brand marketing and retail applications which are really exploding.
eMarkerter predicts that online advertising spend will be $28.5 billion in 2011, and that almost $2 billion of that will be online video advertising. This is really exciting for the industry, says Allaire, because corporations and institutions are expanding and investing in video as a way to enhance their customer relationships and customer touchpoints.
According to Allaire:
“Everyone is an online video publisher. Retail, small businesses, foundations, non-profits, and of course media companies. The use cases for online video are now as many as the use cases for the web in general.”He added that online video platforms have emerged as critical partners to publishers by creating solutions that help them navigate the complex and fragmented online video landscape.
“For businesses, it’s less about the technology—which should be invisible—but about the business value."
Allaire said increased bandwidth capacity and demand for higher quality video experiences have required publishers to render multiple versions of their content for multi-bitrate streaming. In addition, there is a tsunami of new connected devices consumers are using to access video which all use a variety of video runtimes creating a fragmented publishing environment. Allaire said that the recent release of Brightcove 5, the company's cloud-based online video platform, addresses many of the issues that publishers face in the fragmented landscape and helps expand their reach. The new features include: distribution and synchronization with YouTube, iPad reference app, Apple HTTP streaming for the mobile Web and apps, cross platform Smart Players, new advanced analytics for Adobe® Flash® and HTML5 video developed in partnership with Tubemogul, and wide-ranging productivity enhancements.
I spoke with Allaire at length about his background and the early years of online video in this post from 2009. I also caught up with him following this keynote to get a summary of his view on the fragmented video landscape in this post, Jeremy Allaire, Brightcove: Reaching Viewers in a Complex and Fragmented Video Landscape. I've reposted the video from our conversation below.
About Jeremy Allaire
Jeremy Allaire founded Brightcove in early 2004 with a vision for the transformation of television with the Internet. From his early days as CTO of Macromedia, where he was instrumental in evolving Macromedia Flash into a dominant platform for rich media applications on the web, Allaire envisioned that one day video would become as ubiquitous as text on the web. As CEO and Chairman of Brightcove, Allaire leads the company’s technology, marketing and business development strategy. Prior to founding Brightcove, Allaire worked as a technologist and entrepreneur-in-residence for Cambridge, MA-based venture capital firm General Catalyst, where he worked on companies and investments in broadband media, mobile content, e-commerce software and digital identity.
The Online Video Platform Summit is a two-day event designed to help organizations of all types, not just those for whom video is their core business. Held on November 2-3 in conjunction with
Streaming Media West in Los Angeles, the Online Video Platform Summit is designed for video publishers of all types and sizes, whether small businesses looking to publish content for the first time, independent entertainment content creators, large media organizations, or anywhere in between.
- Brightcove: “Everyone is an Online Video Publisher” on OnlineVideo.net
- Larry Kless' Weblog: Jeremy Allaire, Brightcove: Reaching Viewers in a Complex and Fragmented Video Landscape
- Larry Kless' Weblog: CEO Conversations: Jeremy Allaire, Brightcove's Video Visionary
- The Future of Web Content – HTML5, Flash & Mobile Apps