Is Facebook The Next You Tube?
Facebook was the dominate force once again, as the time spent viewing video on social networking sites increased 98% over the last year from 503.8M minutes to 999.4M minutes. According to Nielsen, the number of online video streams viewed on social networks and blogs jumped 45% during the same period.
During the last year, Facebook's online video audience has experienced tremendous growth with total time spent viewing videos increasing 1,840% from 34.9M minutes in October '08 to 677M in October '09. The number of unique viewers increased 548% and total streams grew 987% during the year.
“Facebook's rapid growth in online video during the last year illustrates the site's evolution from simply a communications focused tool to a media portal," remarked Gibs. “Social networking sites are evolving from a venue for catching up with friends to a platform for personal expression, allowing consumers to share their experiences in the full variety of content formats available online."
