NEW YORK--(BUSINESS WIRE)--In its newly released report, Gigaom Research predicts that the smartphone explosion, paired with three software-driven market trends, will make 2014 the year that personal video gains mass adoption, morphing video’s traditional role from a storehouse for memories to an integral part of consumers’ real-time communication and social sharing habits.
In the report, “Action! Roll ‘em: Personal video market poised to take off,” Gigaom Research predicts that for personal video to reach this photo-like ubiquity, companies need to deliver easy-to-use apps and cloud-based solutions that support the appetite for immediate storytelling. Gigaom goes on to identify the three critical drivers to the sustained growth and mass adoption of personal video:
1. Simultaneous capture of photos AND video
2. Automated editing and creative enhancement of long-form video
3. Selective sharing options -- beyond mass-posting on YouTube and Facebook
“Until recently, capturing, enhancing, and sharing personal video has been hard, relegating this media type to a second-class citizen status behind photos. This is changing,” wrote Hans Hartman, Gigaom Research analyst and principal researcher, Suite 48 Analytics. “When the right drivers are in place to make the capturing, enhancing, and sharing easy, fun, and rewarding, the adoption of personal video will accelerate, and likely evolve in unpredicted ways.”
“We see our users capturing an average of 6 minutes of video and 10 photos a month. We recently released functionality that allows them to combine those videos and photos in their movie making and storytelling,” said Reid Genauer, chief marketing officer, Magisto. “Last quarter our users made a collective 7.5 million Magisto movies. We look at the growth of smartphones and the increasing ease and sophistication of capturing images and anticipate that our users will create hundreds of millions of Magisto movies in 2014.”
For more information from the Gigaom Report “Action! Roll ‘em: Personal Video poised to take off,” visit http://bit.ly/1eR2max.
Driven by artificial intelligence and simple user experience, Magisto is a cloud-based mobile technology service for creating and sharing beautiful quality personal movies. It automatically selects the most compelling moments from ordinary videos and photos and, like an expert video editor, weaves them together to convey a story with customized styles and music. Magisto is used by millions of customers and can be accessed across iOS, Android and the Web, and is the highest-rated video creation app in the Google Play and iOS App Stores.
The company is funded by Horizons Ventures, Magma Venture Partner, Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, and SanDisk Ventures. The company maintains its headquarters in Tel Aviv, Israel with offices in New York and California.
About Gigaom Research
Gigaom Research provides timely, in-depth analysis of emerging technologies for individual and corporate subscribers. Our network of 230+ independent analysts provides new content daily that bridges the gap between breaking news and long-range research.