How Are Users Consuming Mobile Video
With the increasing number of consumers upgrading their mobile devices to gadgets geared with cutting-edge technology to support higher-quality videos, it is no surprise to see video consumption moving in an upward trajectory. These days, people are capturing and sharing videos like never before, and this is something brands should take notice of, if they haven’t already. It has become imperative for any brand to focus their time and resources in making high quality videos to advertise their products or services for greater exposure.
Now, the important question is: How, when and where are consumers viewing mobile videos, and what can advertisers and marketers do to leverage from this rising trend?
What are the Facts Saying?
According to a survey conducted by IAB, video consumption on mobile devices is 129 percent higher as compared to 2015. Countries with startling consumption rates include the UK (40 percent), South Africa (42 percent), New Zealand (42 percent), and the US (50 percent), and the figure are still rising constantly. Over 58 percent of viewers watch videos less than 5 minutes on a daily basis, while about 36 percent watch long-form videos, i.e. 5 minutes+ in length, on their mobile devices.
If you look at the younger generation, mobile video consumption is on the higher side and particularly important. Animoto, in one of its reports, has indicated that about 50 percent of millennials watch videos only on their smartphones and tablets, which is found to be 3 times higher to baby boomers. It further sheds light on the fact that 74 percent millennials followed brands on the largest video search engine, YouTube. This shows the significance of digital mobile video for brands and marketers.
Mobile is Quickly Conquering Other Avenues
Radio and television are likely to see further declines of 1.5-2.5 percent, while magazines and newspapers will experience another hit of 6.5 percent, according to Zenith’s Media Consumption Forecasts. It has been found that people on average spend about 85 minutes on their phones using internet a day, which is significantly higher than 36 minutes spent on a desktop. The figures are even higher for the US market. An average American is likely to spend around 145 minutes (about 2 and a half hours) on their phones using internet for various activities, a major chunk of which is spent on watching videos.
It is high time for brands and businesses that have dedicated a big portion of their marketing and advertising budget on TV commercial to rethink their strategy. They should now consider redistributing and plugging most of their investment in creating promotional content for web-based video advertising, and optimize it for mobile devices to capture a wider target market.
So What’s the Takeaway?
All in all, seeing these rising trends of online mobile videos is a great opportunity for both creators and consumers. It is now possible for traditional media such to rethink their game to reach communities of new people . It also gives consumers an incredibly easy way to find interesting content that they actually want and enjoy.