In today’s ever-changing world of technology, video is coming in fast and hard to dominate both the entertainment and marketing space. With multiple devices to choose from — from mobile to tablet, desktop to streaming video on our televisions, more and more people are not only using video to make purchasing decisions, but also changing the way they receive their entertainment. The days of “Prime Time” are over.
Let’s start with video as streaming content
According to Statista, in 2018:
- Over 85% of all internet users in the United States watch online video content on any of their devices
- 25-34 years watched the most video content
- Adult males spent 40% more time watching video content than adult females
According to Nielsen:
- More than 64% of people with a WiFi connection are streaming online videos, up 17% from last year
According to a Google-commissioned Nielsen Study
- 47% of 17 to 49 year olds consider themselves “light” traditional television viewers, and 27% do not watch traditional television at all.
Where are folks getting their entertainment? According to Statista, YouTube is king, with Netflix coming in at a close second when it comes to streaming entertainment.
The business case for video
The preference for video content is not just limited to streaming online movies and shows or watching YouTube video clips, video is now extending into brands with studies showing that consumers (over 50%) are interested in video content from brands or businesses that they support (HubSpot, 2018).
Facing the growing demand by users for more visual content, more brands are building video into their marketing strategy to build sales, brand awareness, trust, and a growing customer base. Platforms like Instagram, YouTube, and Facebook are the most common.
Share of market
- Up from 63% last year, 81% of businesses have incorporated video into their marketing strategy, and more than 83% of marketers attest that video content has the best ROI. (Hubspot)
- Facebook is growing in video use with 81% of businesses preferring Facebook for their video marketing. (Buffer)
- Every week, 24.3% of companies publish videos. (Buffer)
- Of all global consumer internet traffic video made up 75% in 2017 (Cisco).
Increased reach with video
- Compared to just a text and image, social video produces 1200% more shares. (G2 Crowd)
- According to Marketing Sherpa, videos attract 300% more traffic.
Increased conversion rates with video
- Conversion rates are increased, with video, by 80% (Unbounce).
- According to HubSpot, emails with video have an increased click rate of 300%.
- A purchase is 1.81X more likely to be made when a consumer views a demo video (Adobe).
- According to Wirebuzz, utilizing video increases revenue 49% faster than not using video marketing at all.
User preference
- Six out of ten people would rather watch online videos than television. (Google)
- When it comes to video, 59% of executives say they prefer it over text. (Wordstream)
- Video is the preference for learning about a new product with 72% of customers. (HubSpot)
- When researching a product or service, nearly 50% of internet users utilize video before visiting a store. (Hubspot)
- Sound on? Or off? Over 85% of Facebook videos are watched without sound, versus 70% of Instagram Stories are watched with the sound on.
- After 30 seconds, 33% of viewers will stop watching a video, 45% before that one minute is up, and 60% of viewers will stop watching by two minutes. (Ad Age)
Sales benefits
- When it comes retention, videos are key with a claimed 95% of viewers retaining the message of a video, versus just 10% of message retention with text only. And when it comes to calls-to-action (CTA), 95% are more likely to remember it after watching a video, versus just 10% when the CTA comes in a text format. (Forbes 2017)
- Facebook stories are taking root with 62% of people claiming they were more interested in a product after seeing it in a Facebook Story.
- Looking to get your website to the top of a Google search? Websites with video are 53X more likely to land on the front page of a Google search.
- Conversions rates jump to 80% when landing pages include video. (Unbounce)
- Webpages with video increase time spent on the page by 2.6X. (Wistia)
- According to Google, nearly 50% of internet users search for videos related to a product or service before visiting a store.
Device preference
- Video use on mobile is rising 100% year-over-year. (Insivia)
- Of all total videos watched, 75% are on mobile devices. (eMarketer)
- Video viewership is 1.5X greater on mobile than on any other device (Facebook)
- Over 51% of all video plays are on mobile devices (Adelie Studios).
Social use
- There are 48% more views on social media posts with video. (HubSpot)
- There are over 8 billion video views per day on Facebook. (TechCrunch)
- Facebook’s video platform is visited by 75 million people each day. (Adweek)
- There are over five Billion videos watched on YouTube each day.
- On YouTube and Facebook, 45% of people watch more than an hour of video per week.
- 82% of users watch video content on Twitter.
Video frequency
- Of all internet users, 78% watch online videos every week, and 55% every day.
- Versus one year ago, 71% of people spend more time watching video online. (HubSpot)
Popular streaming video sites
YouTube
From cat videos to beauty video blogs, to “how-to” videos. YouTube is the second most trafficked website, after Google. But not only can it be used to entertain, but it can also be used to access and market your brand to your audience in a space they’re already in. Branded video content has increased 99% since June of 2017, and 87% or marketers have published video content to YouTube as of 2018 (Wyzowl). Another 40% of millennials trust YouTube content, and 60% say that the content has changed their worldview. Almost half of YouTube video consumption is made through a mobile device such as a smartphone or tablet.
Key stats
- 65% of people use YouTube to help them solve a problem.
- 1/3 of people on the internet are YouTube users (over one billion users).
- Users view more than one billion hours of video each day on YouTube.
While YouTube still holds the lead, Facebook is quickly becoming a popular destination to watch videos, with over 500 million people watching 100 million hours of video every day (TechCrunch)
Key stats
- 85% of Facebook video is watched with the sound turned off (Digiday)
- Facebook users spend 3X longer watching a live video than a video that is not live
- Native videos on Facebook have a 10 times higher reach compared to YouTube links (Socialbakers)
Netflix
We’ve all heard of Netflix and chill – and it is pretty chill that Netflix is the number one paid streaming video provider. While it does fall behind YouTube on average – considering that it’s a paid service with 72.9 million monthly users, that’s nothing to balk at. And accessible in over 200 countries, its traffic share is easily seen as the top video streaming site in the world.
Key stats
- 23% of US adults streamed Netflix on a daily basis in 2017.
- 57% of all US streaming service subscribers use Netflix (CNBC).
- There are one million Netflix subscribers worldwide.
What’s the future of video?
What are some key insights, and best practices when it comes to incorporating video into your marketing platform? The above article gave you a fairly accurate picture of how your audience is consuming video, and the way in which you create your videos should be directly tied to that, not only with how your videos are created and presented but also the way in which they will perform best.
Key insights
- The top three most effective types of video content are customer testimonials (51%), tutorial videos (50%), and demonstration videos (49%). (Forbes)
- Nearly two-thirds of consumers prefer video under 60 seconds. (Bitable)
- By 2022, online videos will make up more than 82% of all consumer internet traffic — 15 times higher than it was in 2017. (Cisco)
- By 2020 there will be close to one million minutes of video crossing the internet per second. (Cisco)
- Nearly four-fifths (79 percent) of the world’s mobile data traffic will be video by 2022. (Cisco)