Over the next couple years we will be seeing more and more industry standards put in place for web video. This will lead to increased revenues for producers, streamlined purchases for advertisers, and help to push the industry forward to hit the high projections for the web video advertising space.
A new initiative has been put in place by Akamai called Open Video Player. The goal here is to get video producers and web video sharing sites on board so that video players across the web are standardized, kind of like how the TV is today.
There seems to be a lack of interest from brands and advertisers that want to place their products and messages in front of the web audience, because they are hesitant to do so for a lack of standards both in terms of ad and video player specifications.
Web video ad formats are now being put in place, but as for the video player formats, well this is a new area now going under investigation.
Initiative partners already include: Microsoft, Adobe, Panache, KickApps, ScanScout, and a few others. I wouldn't doubt that other large players will join in at some point in the near future.
I think that this is a pretty good idea from Akamai since the web is moving more towards open models on all fronts. Not sure my company's web video sharing site will get involved just yet, I think we will wait until the dust settles and see if the benefits outlined are the ones that are in fact achieved.
