2024 Video Statistics
General Video Marketing Statistics
Did you know that video marketing is the fastest-growing type of marketing in digital advertising? According to Statista, the amount spent on video marketing is expected to reach $92.25 billion, and account for 82% of internet traffic by 2024.
Studies show that viewers can retain up to 95% of the information given in the form of videos. That's probably why more than 78% of viewers consume video content every week, and 55% of them engage with it every day.
Marketers who use video marketing generate 66% more qualified leads than those who don't. And if you're looking to increase your conversion rates, adding a video to your website's landing page can boost them up to 18%, according to WordStream.
Social media is a great platform to share videos, as they get 12 times more shares than text and images combined. That's probably why currently, 86% of businesses utilize videos as a marketing tool.
So, if you're not using video marketing for your business yet, you might want to consider giving it a try! Let’s take a look at some more detailed statistics below.
How is video consumed?
Did you know that people spend around 18 hours every week watching videos online? According to WorldStream, about 33.33% of all online activity is dedicated to watching videos. And, as per Think with Google, 60% of viewers prefer watching videos online as compared to on TV. It's no wonder that video marketing is becoming an increasingly popular way for brands to promote their products or services.
Moreover, research conducted by Limelight suggests that there is an increase in online video content consumption across all age groups, with the most significant increase being observed among people over the age of 46. Social Media Week also reported that 75% of people prefer watching horizontally oriented videos on their mobile devices.
Globally, more than 75% of videos are consumed on mobile devices. And 87% of videos related to business are viewed on desktops.
A survey by Verizon & Publicis found that 92% of participants watched videos with the sound off, and about 50% relied on captions to understand the content. So, it's crucial to ensure that your videos have captions to reach a wider audience.
Interestingly, videos that are 90 seconds or less in duration have a retention rate of 50%. And, 92% of videos viewed on mobile devices are shared with others. Videos are a powerful tool in promoting your brand and engaging with your audience.
How does Social Media Stack Up?
Did you know that social media videos are viewed 48% more than videos on other platforms? That's right! According to research by Hubspot, 17% of marketers include live videos on social media platforms as a part of their marketing strategy. Among all the social media channels, YouTube is the most preferred platform for uploading videos for 88% of marketers.
Also, interestingly, The Global Web Index 2021 suggests that 16% of social media users prefer watching vlogs for researching products. It's amazing how social media has evolved as a powerful marketing tool in recent years, isn't it?
YouTube
Over 270,000 hours of videos are uploaded on YouTube daily. That's an incredible amount of content! It's fascinating to note that 70% of YouTube videos are consumed through mobile devices, making it one of the most popular video-sharing platforms. Moreover, YouTube is the most preferred channel for consuming videos for approximately 67% of viewers, making it the go-to source for video content. On average, a viewer spends approximately 17 minutes per day on YouTube, making it a substantial part of their daily routine.
Did you know that every single day, Facebook users watch over 8 billion videos? That's right, 8 billion! On average, people spend a whopping 26 minutes per day watching videos on the platform.
If you're looking to boost engagement rates, then you'll want to know that accounts with over 100K followers are posting 71% video content, as Socialinsider has discovered. And it's also worth noting that vertical videos designed for mobile devices show the highest levels of engagement on Facebook.
It's no secret that Facebook videos are incredibly popular, with over 500 million people watching them. And with more than 73% of marketers using Facebook video ads to promote their products or services, it's clear that they're an effective way to reach your target audience.
For video ads, it's worth keeping in mind that the conversion rate is highest for those with a duration of 16 to 20 seconds. Additionally, if you want viewers to remember your company, make sure your name appears within the first three seconds - studies have shown that this can increase recall by an impressive 23%!
Instagram is the place to be for brands and businesses. People are spending 80% more time watching Instagram videos since 2017, and 30% of users purchase products they discover on the platform.
That's why 77% of marketers are creating video content specifically for Instagram Reels, and it's paying off with 79% of new customers for brands and businesses coming from Instagram.
Instagram stories are particularly effective, with marketers reporting a 73% increase in customer acquisition. And if you're looking to drive traffic, adding links to your stories is key - 70% of users swipe up to follow them!
But it's not just about links - using stickers on your stories can boost engagement by an incredible 83%. Studies have shown that Instagram posts receive twice as much engagement as posts on other social media platforms.
So if you want to reach new customers and drive engagement, Instagram is the way to go.
Video content is the most shared post type on LinkedIn. Around 80% of LinkedIn users prefer watching videos with the sound off. That's why many marketers have started creating video content for LinkedIn. According to research by Wyzowl, around 38% of marketers create video content for the platform, and 75% of those claim it was successful.
Interestingly, live streams on LinkedIn generate more engagement than published videos. So, if you're looking to boost your engagement on the platform, you may want to consider going live.
Finally, if you're wondering about the ideal video duration for businesses on LinkedIn, research has shown that a video duration of 30 to 90 seconds has the best results.
TikTok
If you're not already aware, TikTok is a powerful platform for brands looking to reach a younger audience. Did you know that 35% of TikTok users make online purchases after viewing products on the platform? And that TikTok involvement in the purchasing process leads to users spending 14% more? These are some impressive statistics that show just how influential TikTok can be on consumer spending behaviors.
And if you're looking to make the most of TikTok, it's important to know that ads that capture the audience within 3 seconds have a 63% chance of complete ad viewing. So, make sure your TikTok ads are engaging right from the start.
Finally, a significant 58.2% of TikTok users use the platform for shopping inspiration and research before making a purchase, and more than a third of TikTok users buy something they see on the platform. These numbers are too significant to ignore, so don't miss out on the opportunity to leverage TikTok for your brand.
Conclusion
In conclusion, the statistics surrounding video marketing paint a compelling picture of its effectiveness across various platforms and industries. From the exponential growth in video consumption to the significant impact on engagement and conversion rates, it's clear that video has become an indispensable tool for modern marketers.
Whether it's through the captivating visuals of YouTube, the immersive experiences of Facebook and Instagram, the professional networking opportunities of LinkedIn, or the youthful energy of TikTok, video content has the power to engage audiences like never before. As businesses continue to navigate the digital landscape, incorporating video marketing into their strategies isn't just an option—it's a necessity for staying competitive and reaching new heights of success in today's dynamic and ever-changing digital landscape.