Technological innovation in communications, and new media platforms such as
YouTube, Facebook and Netflix are collectively transforming the way video is
produced, distributed, consumed, archived, and monetised. Because of this,
video could dominate internet usage by individuals and businesses in the years
to come - according to new Cass Business School research.
The implications are profound. Advances in video are leading to a
fundamental shift not only in the business world and the economy, but also in
culture and society. Advances in affordable virtual reality may transform the
way we interact and share experiences with one another. Video is changing the
rules about communication, relationships and the way we do business with each
other. For business, video is no longer simply a marketing or training
However, the research also finds that many businesses lack the expertise and
systems to cope with increased demand, meaning they must commit significant
investment over the next year to meet it, or risk being left behind.
The study The Future of Video, produced in
association with video management company Imagen
Ltd, is the first of its kind to focus on video usage in
Major findings of the report include:
- Video usage is forecast to constitute 80-90% of all global internet traffic
by 2019 - a staggering one million minutes of video a second.
- Businesses are not ready or able to cope with a boom in video usage due to
its data intensive nature and the problems that arise from managing digital
- Businesses that don't invest in order to manage the transition to video
effectively risk being left behind - 80% of businesses believe video content
provides a competitive edge over competition.
Report author Professor Feng Li, Cass Chair of
Information Management, said: "Much of the recent attention on video is about
user generated content and how to monetise such content primarily through
advertising. However, what have not been examined in detail are the
opportunities and challenges for business use of video beyond advertising, such
as the growing use of video in everyday communications within and between
organisations, and the rapid development of video based operations and new
business processes in different industries. How to use and manage video
effectively has become a strategic issue for a growing number of
Blake, CEO of Imagen said: "The democratisation of video
production will continue to have profound consequences for business
communication and operations. In the right hands, video is the most engaging
and powerful medium for process management, marketing and knowledge transfer.
However, it needs careful management and security controls, with an IT
infrastructure fit for purpose. YouTube, Vimeo and others set a high bar for
the user experience of online video. Businesses need to meet these established
expectations, with controlled access and intelligence about the user
engagement, in an environment which can cope with massive volumes of data."
The creation of this report was facilitated by Cass Consulting. To learn how Cass Consulting can
assist your business, contact Clare Avery at