YouTube & MySpace Dominate 65% of Video Search Market
Why is the building of social networks and multimedia video search so important to Google, Yahoo and MSN? Because they are being hammered by social sharing YouTube & MySpace in the Video Search market, and I mean hammered!
According to a recent Hitwise study, YouTube & MySpace combine for a domination of 65% of the Video Search market. Adding to the excitement is that MySpace provided more than 20 percent of YouTube’s traffic in February and March, via MySpace users posting YouTube videos on their profiles via embed and sharing features.
And talk about stickiness, YouTube’s average session time for that week was 13 minutes 20 seconds, nearly three times greater than MySpace Video’s average session time at 4 minutes 41 seconds, demonstrating a high level of engagement between YouTube’s content and its visitors.
Where are Yahoo, Google, AOL and MSN in the equation? Despite the growth of the Yahoo social network and partnerships between Google Video & AOL Video (and AOL’s new video sharing service UnCut), very far behind.
Here’s a rundown of the video search market shares of the top 10 video search and sharing destinations:
1. YouTube 42.94%
2. MySpace Videos 24.22%
3 . Yahoo! Video Search 9.58%
4. MSN Video Search 9.21%
5. Google Video Search 6.48%
6. AOL Video 4.28%
7. iFilm 2.28%
9. Dailymotion.com 0.22%
10. vSocial.com 0.09%
Despite lagging in the Video Search field, Google is doing their best to monetize the world of online videos with their new Google ‘Click-To-Play’ Video Ads.
YouTube’s market share of visits has increased by 160 percent in the last three months, keeping it well above MySpace Videos, which saw a increase in market share of 3,825 percent during the same period. Other rapidly growing sites in the category in that period were Grouper (up 765 percent) and Daily Motion (up 300 percent).
“The rapid growth of online video sites in the past six months demonstrates a major shift in online behavior” said LeeAnn Prescott, senior research analyst at Hitwise. “The Internet is quickly moving from static web pages to an environment rich with interaction and user generated multimedia content.”