Important Trends in Online Video for 2016/2017 You Need to Know
YouTube an online video sharing site which was founded in February 2015 with three friends Chad Hurley, Steve Chen and jawed Karim. The website caught the attention of internet users and advertisers in very short term period and juts few months after Nike became the first international brand to utilize the YouTube video platform when they uploaded its first video for brand and product awareness. After this success the site was bought by Google. It was the first time when online video was arriving, and a brand new market was ripe for exploitation – who wouldn’t want to be on the inside working the angles?
Online video was arriving in 2006 then it has well and truly arrived in 2016. What might have once been the reserve of plucky amateurs is now a world of content that continues to expand exponentially each year. The sheer volume of online video that is uploaded, viewed, and shared each day is astounding, as is the reach of YouTube:
- 1 billion users, approximately one in three of all internet users
- More than 2 billion video views daily
- Viewing times that run into the hundreds of millions of hours every day
- Growth year on year of 40%
It is clear that online video is a most important arm of the content creation, publishing, and marketing machine. But how will online video continue to evolve in the year ahead? And what trends – social, technological, or cultural – will have significant effect on the world of online video? Below is following stats and trends that will help you to understand the magnitude of the impact of video and the pace of market changes…
The market or better YOUR customers demand it.
- In Q2 of 2014 alone, U.S. consumers watched 38.2 billion videos.
- By 2020, 82 percent of total Internet traffic will be video (Cisco).
- 48 hours of video every minutes are being uploaded to YouTube and every second, nearly a million minutes of video content will cross the network by 2020. (Cisco).
Customers are changing where they watch video. You should pay attention to the “where”.
- From 2012 to 2014, mobile video views have increased by 400 percent.
- 20% of video views were happening on mobile devices at the beginning of 2015.
- 50% of video views will be happening on mobile devices in 2016.
- By 2018, 149 million tablet video viewers will watch videos at least monthly. This will account for 70 percent of all digital video viewers in the U.S.
Watching behavior is changing. Be on the lookout.
- 81% of consumers watched videos longer than 10 minutes on their connected TVs, 65 percent watched videos longer than 30 minutes.
- In 2014, viewers spent 23 percent of their time on tablets watching videos of 30 to 60 minutes in length, more than on any other device.
- 45% of mobile videos viewed were less than 6 minutes.
- In warm weather, consumers watch 6x more video content on mobile devices.
- In cold weather, viewers watch 29 percent longer.
Video advertisements are on the rise.
- Online ad revenue will rise significantly; 2015 $7.7 billion, 2016 $9.59 billion, 2017 $11.25 billion, 2018 $12.82 billion.
- The average click-through-rate (CTR) of video ads is 1.84 percent, the highest CTR of all digital ad formats.
- YouTube holds 20 percent of the market share of total video ads in the U.S.
- Completion rate of non-skippable video ads vs. skippable ads:
- Click-through rate of non-skippable video ads vs. skippable ads:
- 46% of people say that video ads shouldn’t be longer than 15 seconds:
Since the birth of YouTube online video has become an increasingly important element in any content marketing plan. In 2016 the importance of online video increase day by day, and we will also see particular trends impacting more significantly than others. For business and marketing agency, staying ahead of these trends and delivering on the promise of online video will be important, as will thinking through the channels by which this content will be delivered. You must implement a video library on your responsive site to make navigating your videos easy, it should be top of the TO-DO list for better marketing practice and Make sure your videos are all uploaded to one of the common video platforms. With a large percentage of the market share, YouTube is a good choice. There, you can create your own channel for your practice and integrate it with your video library on your website. It’s not possible other site to compete YouTube in the year to come? It’s unlikely – but in a world where a year can mean the difference between startup and a billion-dollar buyout, it’s worth keeping a close eye on the domain all the same.
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