Online Video Booms – Myspace Video Plummets

Video consumption online has exploded in the U.S. and has only been further increased with the emergence of Hulu and others. Ironically, for entertainment-heavy and Facebook competitor, MySpace, unique views and videos served have declined sharply.

Consider these stats depicting the monumental growth in video consumption in the U.S. in November 2009. According to Comscore, 170.6 million U.S. residents watched almost 31 billion videos, an average of 182 videos per person. That’s a big increase from 146 million unique viewers and 12.7 billion videos, an average of  87 videos per viewer, in November 2008.

MySpace, admittingly, is more noted for their strong focus on recording artists and entertainment in general, pointed out that, despite declines in unique viewers and videos watched, on a per user basis, its online video engagement is up.

In an e-mailed statement, Myspace  said:

“Our user engagement numbers for video were higher than ever — highly engaged users are staying on MySpace and watching more videos.”

That said, there is no denying the fact that the overall trend in the U.S. is an increase in both unique viewers and in videos watched, not a decrease.

What are your thoughts? Is this yet another sign of the ‘end’ as we know it for Myspace? Leave your thoughts in the comments!