According to a new Nielson report, people’s attention is moving to Internet video and social networking, and online advertising is following.

Highlights of the report:

• The number of American users frequenting online video destinations has climbed 339% since 2003
• Time spent on video sites has shot up almost 2,000% over the same period
• In the last year, unique viewers of online video grew 10%, the number of streams grew 41%, the streams per user grew 27% and the total minutes engaged with online video grew 71%
• There are 87% more online social media users now than in 2003, with 883% more time devoted to those sites.
• In the last year, time spent on social networking sites has surged 73%
• In February, social network usage exceeded Web-based e-mail usage for the first time.

“The Internet has changed dramatically as people seek more personalized relationships online. In particular, time spent on social networks and video sites has increased astronomically,” said Charles Buchwalter, SVP, Research and Analytics, Nielsen Online. ” Advertisers are starting to positively re-assess the value of the online experience and create more meaningful relationships with consumers.”

Translate “Advertisers are starting to positively re-assess the value of the online experience” into English, and it means advertisers are moving their dollars to Internet media and social networking sites, because they realize that’s where people are spending their time.

Will this make it easier for indie bloggers, podcasters and vloggers to make a buck?

Leave a comment with your thoughts!

Image: Dustin Diaz