It's no secret that the amount of video being consumed on mobile devices is skyrocketing, but service providers and content producers take note: A new report says the opportunity to monetize those services is gaining momentum.
FreeWheel's latest Video Monetization Report shows that the amount of professional video content users are gobbling up on tablets, game consoles and smartphones doubled last quarter, according to RapidTV News. Online video last quarter reached a staggering 1 billion views. And that's driving monetization: The market for video advertising, the report says, is actually growing faster than content viewing. FreeWheel says video ad volume is up 68 percent over the past year, compared to just a 10 percent spike in video consumption.
Consumers saw almost eight ads for every video longer than 20 minutes, the report says.
This gives content producers in particular a big opportunity going forward, FreeWheel says. There is money to support production, and there is more room for monetization in videos that are 20 minutes or longer (i.e. an online TV show).