Demand for online video content by information seekers is rising at an explosive rate across the globe. People love browsing for information in the video format due to better understanding and a more apt description of the required information. Web users are increasingly browsing for video content on YouTube, Hulu and other similar services. In one internet minute (60 seconds), more than 30 hours of video is uploaded and about 1.3 million video views are registered on the leading video content site YouTube.
Online video streaming services like Netflix and YouTube account for nearly 50% of downstream traffic in the U.S over fixed networks. At a global level, a user spends on an average 1,177.3 minutes on various online video properties owned by top sites like Google Inc. (NASDAQ:GOOG), AOL Inc. (NYSE:AOL), Facebook Inc. (NASDAQ:FB) and others. Brand marketers must focus on including well designed cheeky videos along with the brand content to drive better engagement rates. Adoption of various services like Instagram video, Vine, YouTube and others might prove to be rewarding for brand marketers.
According to an Infographic by Quicksprout which summarized certain key facts and figures pertaining to the online video industry, videos increase people’s understanding of brand products by 74%. Couple of other interesting stats are listed below.
- The undisputed king of video content, YouTube is the 2nd largest search engine after the search giant Google, with over 3 billion search queries per month, signifying the rising demand for video content by information seekers rather than information in text format.
- Nearly 45.4% of internet users view at least one video online in a month, and on an average, a user is exposed to at least 32 videos per month.
- In a day, 100 million internet users watch online video and a majority of them watch videos that offer a product or service related information.
- About 75% of executives watch work related videos on business oriented websites, at least once a week.
- About 50% of them watch business related videos on YouTube and about 65% of them visit the marketer’s website after viewing the video.
- An average user spends 16 minutes and 49 seconds watching online video ads every month.
- Close to 80% of internet users remember the online video ads which they might have watched and about 46% take action after viewing the ad. About 26% of them look for more information, 22% visit the website named in the ad, 15% of them visit the company representative and about 12% purchase the product featured in the ad.
- Website visitors are 64% more likely to buy a product after viewing an online video ad than the ones who have not watched the video.
- Real estate listings with videos receive 403% more inquiries than those without videos.
- Demographics hardly matter for video viewing, online users between ages 35-44 and 45-54 are just as likely to browse for video content as online users in the age group 18-24.
- Click-through-rate is 2X-3X higher when marketers include a video in a marketing email. This also leads to a 75% decrease in subscription opt-outs by brand followers.