The statistics are overwhelmingly in its favour.
In a 2011 Google survey, 66% of people reported watching online video when thinking about taking a trip. 64% of those surveyed used online video to help choose a destination, and 57% watched video to help choose accommodations for their travel.
According to the report, travellers watch a combination of professionally-made videos and user-contributed video, but the number one preferred source of video (at 62%) are from corporate industries such as hotels, airlines, cruises, tours, etc. and that’s not even the best part: of the travelers who reported watching online videos while planning, 45% of leisure travelers and 72% of business travelers said they were prompted to book as a direct result. - Source