I’ve been learning a bit more about the size of the video industry and what is currently happening with video in general. In designing the idea that I had for the LLC I found that I was missing statistics. This came when I was in my class for media entrepreneurship. In this class we have been learning about different types of businesses, how they operate, and where they get their funding. In learning about funding I realized that having investment opportunity is always a possibility down the line. Then I thought that If I were to try to get investments tomorrow, what statistics or data would I use to get someone’s interest? I decided that I would look to the current state of small businesses and the video industry. Because these are my two main topics I want to learn as much as I can about both. I learned that there are over 800,000 small businesses in New Jersey alone. In my reading I found that that there is a high percentage of small businesses who lack social media, and content. This coupled with what I have learned about video leads me to believe this is a viable business opportunity. From what I read this week I gathered that the video industry has been growing the past few years. I learned that spending on video ads has gone up tremendously and is projected to continue growing over the coming years. In general, video is becoming more popular, with some statistics stating that 45 percent of people watch more than an hour of videos on Facebook or YouTube every week. Also, one third of online activity is watching video. Next, 81 percent of businesses use video as a marketing tool. Lastly, one of the most important statistics I have found is that mobile video consumption rises by about 100 percent every year. This data says a few things about marketing, business ownership, and video. It shows a direct correlation between having video content, and the success of a business. It seems that businesses that aren’t using video to advertise and have no video content are not succeeding, and businesses that do produce video content and market video are succeeding. I would say that the reason for this is seen in the consumption of video. The stat mentioned above shows that people are watching more on their phones than they used to. The way we use our phones and social media has dramatically changed over the past few years with the introduction of “unlimited data” and more access to the internet. Now people can stream video on their phones seamlessly wherever they go. What all this means to me is that video is growing and now is a good time to get involved in it in one way or another.