Google alive and kicking thanks to online video and growing confidence

Google's share price could be dangerously close to its 52-week low at $437.92 but a few good news should comfort the search giant's shareholders.

First, Comscore published some data which showed how dominant Google is in the booming online video market; in January 2008, Youtube accounted for more than 1 out of every 3 US online videos.

Nearly 10 billion videos were viewed in the US last month, slightly down on December 2007 when days off and public holidays helped online video viewing reach 10.1 billion views.

Google's 3.36 billion videos is nearly twice the amount of videos viewed on the rest of the top 10 US Online video properties and nearly six times larger than second placed Fox Interactive Media, which shows that Google's grip on the online video segment could be become stronger as Youtube and other Google video websites gained 1.7 percent since December 2007.

Nearly 140 million US Internet users, more than three quarters of the total US Internet Audience, spent more than 200 minutes each watching online videos with the average Youtuber spending on average 110 minutes, three times as much as as Viacom Digital.

The average online video user views 70 videos of around 3 minutes each in a month.

Henry Blodget, from Silicon Alley Insider, also compiled figures that show that Google's year on year growth on US is twice as big as the growth in advertising revenues of all of the offline media companies put together.

Online revenue at Google grow nearly three times faster than Yahoo, Microsoft or AOL, something that surely must please its stakeholders.