Facebook & Twitter Bet Big on Video
Online video platforms are ramping up their offerings for 2015 as video media consumption continues to boom. Smartphone and tablet video views more than doubled in 2014 with an increase of 114%, according to online video tech firm Ooyala's latest data.
Facebook reported that its news feeds gained more than one billion daily video views on average since June 2014 (the month of the ALS Ice Bucket Challenge).
Additionally, it was announced on January 8 that Facebook has acquired Quickfire Networks. The start-up describes its work as proprietary technology that cuts down on the bandwidth needed to stream online video without compromising quality. Considering the platform's video autoplay feature, bandwidth conservation is essential for Facebook to further scale video offerings. Stirrings of expansion were seen in December 2014, when a partnership with the US National Football League to share game footage straight to Facebook kicked off.
Meanwhile, Twitter is preparing to launch video services that – according to CNBC – will allow users to shoot, edit, and post video straight through the Twitter app, building on the strength of mobile video sharing demonstrated by Vine.
Finally, following the November 2014 release of its first original series High Maintenance, video platform Vimeo has secured two exclusive 10-episode video series by YouTube content creators PJ Liguori (KickThePj) and Sawyer Hartman through a deal with New Form Digital Studios. The studio was formed in 2014 by US entertainment company Discovery, producer Brian Grazer, and director-producer-actor Ron Howard.