The rising popularity of video content across all the social media platforms is a testimony to the fact that the future of digital marketing belongs to social video.
According to e-Marketer forecast, digital marketers would invest lavishly in social video advertising in the coming years. It is estimated that the total ad spending on social videos would be increased by 44% to $14.89 billion between 2019 and 2021 in the US alone.
Since the rich media content has been attracting a number of eyeballs on the internet, video content has become the most favourite of advertisers. It invokes the major sensory nerves that actually pay heed to the content that includes sight, auditory and emotions of people. Therefore, video content has emerged as the most engaging kind of digital content when it comes to marketing. It just makes people stop by and spend their most valuable time to gather information.
Between 2019 and 2023, the overall video ad spending in the US is estimated to increase by 62.1%. Facebook and Youtube being the prominent players in the arena, albeit Youtube’s contribution is not factored in the estimated figures on social video advertisement. However, Twitter and SnapChat are actively attracting the eyeballs of users, and advertisers as well.
Being sound and small Twitter’s US video ad revenue is estimated to surpass $1 billion in 2021. On further research and analysis, even the tiny space it has got but swipe off the user base with its ease and speed.
It is none other than the Snapchat which is garnering more revenue from video ads. Its video ad revenue from the US would shoot up to 19.9% year over year in 2021, reaching an eye-popping figure of $727.4 million. This stupendous triumph of SnapChat’s revenue goes hand in hand by matching the level of Roku player’s expected total US revenues of $785.4 million by 2021.
Does it sound great? That was a really big bite in the markets right?.
As the major high rated news site is losing its sheen, the social networks Instagram, Twitter and Snapchat are all ranking much higher than the most adorned news sites.
Why It Is Advised to Invest in Video Ads?
In today’s digital economy, the younger generations and even the older people do throng in social media networks as a time pass or to gather information about the things going around in a crisp.
“Video has taken center stage on social platforms that were once text- or photo-centric—including Facebook, Instagram, Twitter, Snapchat, even Pinterest,” said eMarketer principal analyst Paul Verna
The young digital citizens not only view the ad-powered video content, but they do also share among their friends and peers to add to their merriment. But actually, these unsuspecting users are acting as a digital brand marketer for many companies. These user activities would exponentially grow the business behind the video clip. Sounds tricky, isn’t it?
This sort of shiny trends in this age of social media attracts digital marketers to spend more on video ads. They do spend but to be more precise actually, they are investing the right share to reap maximum campaign benefits. The video consuming behaviours of younger generations, so-called as millennials and Gen Z, do prominently spend 54% of their whole time in a day to watch videos on social media networking apps. YouTube swipe off the video content niche for 25% of that total timeshare. This is as parallel to a May 2018 multinational study by VidMob.
On the other hand, Consumers do accept the fact that video content is a compelling factor for their buying behaviour. True Right?.
A leading video content creator, Brightcove conducted a study to know the marketing channels and the inflow streams of business. The research revealed the key figures such as 76% of adults in the US, UK and Australia have duly purchased a product after viewing the video content of that brand which established a trust in the viewer’s heart. It also highlighted that 66% of younger generations with ages 18-34 said they are actively attached to the concerned brand after being exposed to their video on the social media platform.
Strange but True. Rich video content pulls off your eyes, ears and emotions. That is really a feast to the sensors right! Undoubtedly, video is the future of content and social video advertising will account for a lion’s share of the total ad revenue worldwide.