Video is one of the hottest topics at every industry event this year, from Advertising Week to Digiday – which is no surprise given the industry-wide pivot that we’re seeing from storytellers on both the buy-side and the sell-side. Marketers are realizing the immense opportunity that digital video ads offer for targeting, tracking, and delivering personalized messaging in real time, and digital publishers are finding digital video to be the best way to reach audiences that are increasingly cutting cords and looking to their mobile screens. Still not convinced? Here are 30 video stats that show why video deserves to be emphasized in every brand’s digital content strategy – now, and for the foreseeable future:
Digital video consumption is skyrocketing...
- Americans are projected to spend 81 minutes a day watching digital video in 2019, up from 61 minutes in 2015. (eMarketer)
- One-third of online activity is spent watching video, and 85% of the US internet audience watches videos online. (Wordstream)
- Digital video viewers in the US are expected to grow from 221.8 million to 239.2 million between 2017 and 2021. (eMarketer)
- 55% of people in the US watch videos every day and 78% of US Internet users watch videos online every week. (Tubular Insights)
- In the UK, 43.2 million people will watch digital video at least once per month in 2017 and an estimated 65.1% of the UK population will be digital video viewers. (eMarketer)
- Globally, IP video traffic will constitute 82% of all consumer Internet traffic by 2020, which is up from 70% in 2015. (Cisco)
- 79% of consumers say they'd rather watch a video to learn about a product than read text, which up from 69% in 2016. (Wyzowl)
thanks to millennials on social platforms, mobile screens & OTT devices.
- Millennials are the first age group to watch more TV shows on digital devices than traditional screens. (Variety)
- YouTube reaches more 18-to-49-year-olds than top ten primetime US TV shows (Tubular Insights)
- 45% of people watch more than an hour of Facebook or YouTube videos a week, more than 500 million hours of videos are watched daily on YouTube, and 10 million videos are watched on Snapchat per day. (Wordstream)
- Tablet and smartphone video consumption grew 170% between 2013 and 2016, and grew 2,084% between 2011 and 2016. (Ooyala)
- 94.1% of millennial internet users will watch streaming digital video by 2019. (eMarketer)
- TV-connected devices account for 23% of Millennials’ total time with video (Nielsen)
- 79% of millennials understand the necessity of ads in order for brands to inform the public of their products and services, 46% say that ads don’t bother them overall, and 75% say they’re not bothered by ads if the content they’re viewing is free (Nielsen).
Digital video drives engagement & impacts consumer behavior...
- 92% of mobile video viewers share videos with others. (Wordstream)
- Social video generates 1200% more shares than text and images combined. (Responsive Inbound Marketing)
- Social videos on Facebook generate 291% more reach and receive 375% more clicks than images on the platform. (Wibbitz)
- Video ads have an average click-through rate of 1.84%, which is higher than any other digital format. (Tubular Insights)
- Viewers retain 95% of a message when they watch it in a video compared to 10% when reading it in text. (Insivia)
- The average user spends 88% more time on a website with video. (Wordstream)
- 64% of shoppers are more likely to purchase a product after seeing a video about it. (Mixpo)
- Video on a landing page can increase conversions by 80% or more. (Adelie Studios)
and it’s where all the ad dollars are headed.
- Digital ad spend surpassed TV for the first time in 2016. (IAB)
- Digital video ad spend is also growing faster than search, which will see increases in the 2% range as US digital video ad spending is forecast to grow 12% in 2017 and 9% in 2018. (eMarketer)
- Global ad spend on video is expected to reach $23.7 billion this year. (ExchangeWire)
- In the US specifically, that figure is expected to reach $28.1 billion in 2020, which is up from just $6.8 billion in 2015. (Tubular Insights)
- Ad spending on original digital video programming increased 114% between 2014 and 2016, with marketers spending more than $10 million on digital video annually on average, which is a whopping 85% increase from just three years ago. (IAB)
- Digital video ads generate 2.2 times the CPMs of display ads. (IAB)
- Marketers who use video grow revenue 49% faster than non-video users. (Wordstream)