Not that they needed to tell any of us that, right? We all are in the trenches and know. However, for those who don't know, Nielsen Online is happy to spell it out. Their new report takes a look at how social media and video sites have reshaped the web and the online advertising market over the last few years. Just to put it all in perspective they're even including the current economic crisis that is sweeping the world faster than swine flu (we hope, or do we?).
From the report they state that there has been an increase of over 2000% in regards to time spent on video sites. This is taking into account numbers from 2003 to present. That's not really all that hard to imagine considering that in 2003 how many of you were in the online video industry? I wonder where ReelSEO was in 2003…
Anyway, in regards to social media they state that there is a lowly 87% more users now than in 2003 yet they spent 883% more time on the sites…Now I know why I started being a Social Media Consultant. Nielsen went on to say that monetization is still elusive for the social networks. From the rapid increase in the number of ads on Facebook this year I would say they might have found a solution to that. Though I really do like being able to tell them not to show me some ads…look the consumers are doing your demographics targeting for you!
According to their report more people are now watching video online and using social media than using email. I'd like to see the math behind that. Though I suspect Twitter has something to do with that.
If you'd like to see the math and more from their report head over to the Nielsen Blog and see how Social Media and video site engagement reshapes the web.