Seventy-three percent of video editors believe their business will grow in 2007, according to a new survey by Larry Jordan & Associates.
Conducted in January 2007, the survey was targeted at video editors worldwide with 219 editors replying.
"As self-employed professionals, editors are among the first to feel the effects of a changing economy," said Larry Jordan, president of Larry Jordan & Associates. "It's a good sign overall that they are feeling so optimistic. Part of this optimism is due, I think, to the explosive growth in video communications that we are seeing in companies such as Google Video and YouTube, as well as the increasingly common use of video on corporate Web sites."
Responding to questions about their businesses in 2007, 25 per cent of the video editors surveyed believe business will be much better than 2006; 48 per cent believe it will be better than 2006; and 24 per cent believe it will be the same as 2006.
Video editors expect revenues to grow in 2007. Forty per cent believe gross revenue will grow more than 10 per cent -- well outpacing worldwide GDP growth of 3 - 3.3 per cent. Thirty-nine per cent believe it will grow 1 per cent - 10 per cent. Nineteen per cent believe gross revenue will be the same as 2006. In all, 98 per cent of the respondents believe their gross revenue will be the same or better than 2006.
These optimistic expectations for 2007 follow respondents reporting significant gross revenue growth in 2006. Forty per cent reported revenues grew more than 10 per cent. Twenty-eight per cent reported gross revenue growth of between 1 per cent - 10 per cent. Twenty-one per cent reported revenues the same as the previous year.
Most of the respondents, 58 per cent, are full-time, paid video editors. Another 31 per cent are part-time paid editors. The remaining respondents are hobbyists or enthusiasts.
Ninety-four percent of respondents were either self-employed (67 per cent) or worked in teams of less than six people (27 per cent).