10 Alarming Video Content Statistics
Did you know that more than half a billion people (more than 500 million) are watching videos on Facebook each and everyday? Over the next four years, it has also been predicted that internet video traffic will make up more than 80% of all consumer traffic on the internet. If you look around, how often do you see people with their face glued to their mobile device consuming some form of video content? It would take an individual more than a staggering 5 million years to watch all the video content that crosses global IP networks every month. Nearly 17,000 hours of video content (about one million minutes) will cross the network every second by 2021. Those are some crazy video content statistics.
All of these numbers are truly shocking. While it might leave you wondering how many cute cat videos you’re going to miss, it should also bring up another important point: If your business doesn’t have any video content to call its own, how are you going to compete? In just one single second, more video crosses the internet than you could ever manage to watch even if you spent two years doing nothing but trying to catch up. From a consumer’s perspective, the ever growing availability and popularity of online video content is simply stunning. And, it’s working to change the way that brands communicate with customers, and each other.
Most brands who have become aware of these growing trends in recent years realize that our world has shifted to a real “video first” society. The below video content statistics only work to support that viewpoint:
1. Consumers want to watch and film
“Video first” was a term coined by Facebook recently when they were discussing the shift about making it easier for people to both product and consume content. Facebook Live is one result of this discussion. It is now growing at alarming rates and completing with the likes of YouTube itself. In response, more and more businesses are beginning to shift video to the forefront of their marketing approaches.
2. Live streaming is the future
Live streaming is predicted to account for about 13% of the anticipated video traffic explained above. This is huge news. It is pushing businesses to find new, creative approaches so that they can utilize live video in their marketing campaigns. Just like Virgin Airlines did with its “Seize The Holiday” campaign that literally went live to show viewers where they could be in the world at that very moment, showcasing live footage from some of the hottest travel destinations on earth.
3. Don’t be afraid be square
Square videos are expected to continue growing wildly in popularity. As of now, square video content takes up about 78% more space in Facebook’s Newsfeed and they also get more engagement than horizontal videos. Square video is also ideal for Instagram video posts.
4. Videos equal purchases
Because video marketing has been shown to drive purchase behavior and provoke stronger engagement, there’s no wonder why more businesses will be using it in the coming months as an essential part of their marketing and sales funnels.
5. Lowered production costs
As achieving high-quality footage becomes easier and easier with the ever-improving pocket sized, multi-function cameras (i.e., your smartphone, mirrorless cameras, etc.), the production costs associated with professional quality video will only continue to decrease. You’ll be able to outsource it or do-it-yourself for less than ever before, even as quality standards continue going up–along with resolutions.
6. Video will also be a training tool
By saving on training costs and keeping the approach to training consistent across the board, businesses will begin seeing better outcomes and lower training costs through the use of video as an internal training tool. This will also make it easier for staff members to learn the ins-and-outs of the trade through education tools that are always available, and can be paused and re-played as needed.
7. Paid video socializing
This is an evolution of the paid ad placement approach to advertising, more and more businesses are paying for sponsored videos and/or paying influencers to interact with and feature their video content.
8. Increase trust
Providing video alone doesn’t increase trust. When video content is able to engage viewers, that’s what counts. Views, clicks and shares not only spread your message further, but increased engagement with your content builds trust in your brand and your expert authority.
9. Use both
It’s no longer a question of Facebook or YouTube. Businesses are now shifting to a multi-platform approach to reach a wider audience, but they are tailoring the content they publish for either or. This is important, especially when you learn that around 85% of Facebook videos are watched on mute. Is your point getting across through visuals alone? Are you using closed captioning?
10. Interactive videos
As the popularity of video contents to grow, so will the technology associated with its creation and presentation. While video was previously seen as a one-sided type of content, more and more leaders in the industry will begin finding new ways to make video one of the more interactive forms of content. Businesses who are able to catch onto new features early on, as people did with live streams and 360 video, will benefit greatly.
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