According to blogmeister Robert Scoble, Facebook is now getting 100,000 video uploads per day, or enough to keep you busy 24/7 for 100 days. That raises the question as to whether a) Facebook has the capacity to handle the YouTube-like service levels and b) whether it’s going to compete with YouTube’s advertising and analytics programs for video. Given its rather sketchy support for its PPC and pay per impression ad programs, I’d argue that b) is pretty unlikely right now. But hey, it’s way too early to write Facebook off in this market–and here’s why.
Sure, right now Google (including YouTube), has a 55.4 percent of video viewing visits to online video site properties. Meanwhile, Facebook has a comparatively tiny 1.5 percent of video viewing visits, according to eMarketer. But bear in mind that that 1.5 percent (up from 0.8 last year) puts it on par with content behemoth Viacom and just below CBS Interactive. Actually, it’s in a pretty impressive position.
True, Facebook moves pretty slowly and hasn’t much aggressiveness in the ad space, but that can’t last forever if it’s going to keep growing. Monetizing video, even by aping YouTube, is just something it has to do.
I’m also pretty sure that Facebook’s rate of video content accumulation will climb rapidly, giving it increasing leverage. After all, while YouTube tries to be friendly–and can feature some intriguing comments on hot content–it just isn’t the kind of community space Facebook is and doesn’t offer anywhere near the tools. That gives Facebook a big advantage in building video visitor rates and putting the squeeze to YouTube.
Facebook, all told, has a real opportunity here, though it hasn’t yet shown signs that it cares. Let’s see if it wakes up and makes some tough moves to capture more video viewer market share.
Like what you see in What Matters Online? Want to stay up to date on the latest in Web 2.0, social media and old-school interactive marketing? Get notified of our latest updates by e-mail or RSS. I will never sell or exchange your information, and I won’t deluge your inbox — I promise!