Value of Video Contests Grows 144% to $2.6 million in 2008
Video contests are growing in popularity as a method engaging consumers, crowdsourcing creative marketing material, and building communities of interest on the internet. VidOpp video contest clearinghouse has compiled data on the incredible growth in video contests spanning 2007 and 2008. The graph below shows the number of video contests growing consistently. Not only has the number increased, but the value has as well.
In 2007 VidOpp.com reported on 192 video contests worth over $1 million. The value in 2008 was up 144%, with 471 video contests reported with cash prizes of over $2.6 million. In addition, VidOpp.com reported on 334 video contests with non-cash prizes, including trips, computers, and camera equipment.
The 10 richest contests of the year were worth over $600,000. Major brands dominated the highest prize category. It is clear from these figures that large consumer oriented marketers have embraced video contests as a campaign strategy for engagement and community-building.
For all the latest video contests, there is no place like www.VidOpp.com – the video contest clearinghouse. With a large and loyal audience of video contest enthusiasts, VidOpp is an essential resource for ensuring maximum participation in video contests. The growth in the VidOpp community is even faster than the growth in video contest value.
It is a good news to all of us..especially to the blogger who promoted video contest..they get the high rate..Congrats!
[...] on VidOpp? Think of al lthe time we have saved you over the last 2 years. Remember we brought over $2.6 million in contests to you last [...]