23 Jun Video Marketing: Where Does it Really Stand in Digital at the Moment?
Nicola Mendelsohn, Facebook’s vice-president for Europe, Middle East, and Africa has recently stated that she expects the social platform will probably be all video in five years.
The statistics thus far from the outlets push toward video content are certainly impressive:
An average of 100 million hours of video are watched on Facebook on mobile devices daily.
Facebook Live get 10 times as many comments than other video.
Facebook CEO Mark Zuckerberg is reportedly “obsessed” with live streaming and the company has been paying outlets such as the New York Times and Buzzfeed to use Facebook Live. They are being paid $250,000 if they post 20 videos per month over a three-month period.
What’s more according to a recent survey by the Knight Foundation 70% of Facebook users use Facebook for news every day. 59% of those say that they continue to talk about that news offline and in person.
In a recent Oxford’s Reuters Institute for the Study of Journalism report they found that for every group under the age of 45, in all countries surveyed, online news is now more important than television news.
The Evidence Against Video
This highlights the increasing takeover of social media as a legitimate, source of daily news for younger generations as the medium continues to take down former bastions of news. However, the same report found that video’s perceived coming dominance of text in the context of social media might not be as far down the track as some, including Facebook, would have us believe.
When asking respondents about video, the survey found the following complaints:
41% said reading was quicker and more convenient than video.
35% said pre-roll video ads tend to put them off.
20% said videos take too long to load.
19% said videos don’t add text to story.
19% said they’d rather watch news on a bigger screen.
9% said they were concerned about the cost of watching video on mobile.