Recent earnings announcements from Google, Facebook, and Twitter all point to a world where, as Facebook CEO Mark Zuckerberg noted ““video is first, (and at )…the heart of all of our apps and services.”
Consumer adoption of video validates this focus, with video projected to drive nearly 80% of total global internet traffic in 2020.
Video Advertising Explodes
The preeminence of video as a premium advertising platform is now clear. After a slow start, spending on digital video advertising is projected to rise significantly from $7.7 billion in 2015 to $12.82 billion in 2018. Mobile video advertising is the accelerant, as noted in L2’s recent Video report, jumping more than 80% in 2015 and forecast to see double-digit growth through 2019.
(Another) Mobile First
This mobile-first impact on video viewing is already being felt, with the average duration of a YouTube video decreasing more than 60 seconds since April 2015, and 15 second videos on Facebook having double the average engagement rate of videos between 30 and 59 seconds.
As we enter the era of mobile-first video — Ninety-two percent of Facebook’s 1.71 billion users access the platform via mobile, and more than half (57%) never use the platform’s desktop version — brands continue to struggle with how they should manage their paid, owned, and earned video assets across the various platforms.
Mix of Tools the Rule as Platforms Continue to Evolve
Brands looking for scale in this arena will be disappointed. Despite Facebook’s prognostications, no size fits multiple social video platforms. Each platform has a distinct value proposition and a different path to success—content must be created and deployed on a campaign and platform-specific basis.
In fact, with its evolving set of platforms, consumer usage cases, advertising models, and content generation best practices, digital will make successful brands work harder than ever before to maximize the impact of video.
Making the Right Calls
L2’s recent Video report evaluates the performance of 200 brands in seven categories across the key video platforms of YouTube, Facebook, Instagram, and Snapchat. A key output of the analysis was identifying essential variables to consider when deploying video content, such as duration, frequency, content type, targeting, and the role of organic vs paid growth. Check out our interactive platform tool here if you would like to get some sense of why, when it comes to video, one size fits none.