8 Video Marketing Statistics of 2024: Numbers Tell the Story
As every marketer knows, integrating video into your strategy isn’t just smart – it’s essential. With video marketing statistics at the heart of our discussion, let’s journey through the vital numbers that paint a vivid picture of video’s starring role in 2024’s marketing scene.
Marketers worldwide have allied with the best video creators, agencies, and influencers to discover new ways to engage with their customers and reach new clients. You’ve probably seen some yourself, from tutorials and how-to videos, to live streams and social media stories. Ingenious video content is everywhere.
So, settle in, and let’s talk numbers that matter. And remember, we can reflect on video marketing statistics all day long, but it’s the action you take now that will carve your future success.
Let’s get started!
1. Digital Video Beats TV
Remember when watching videos meant watching DVDs? Not anymore. In the US in 2022, time spent viewing digital videos was higher than time spent watching TV viewing for the first time in history. Yes, it’s official, digital video wins.
2. Video is Watched Mostly on Mobile
People are watching a lot of video and a lot of different types of video (see point 8 below…). And they are mostly watching on their mobile devices. Fully 69% of people surveyed in the US said that their smartphones were the “most used devices for digital videos.”
Pro tip: Creating content specifically designed for mobile users sounds like a tricky assignment, but it’s not! You should mainly consider that most people watching videos on their phones have the sound turned off, especially if they are scrolling through social media content. Make sure you have captions available for your video, so the viewer can enjoy it even when they can’t listen in.
3. Video Drives Engagement and Conversions
Video content has a unique ability to captivate audiences, holding their attention far longer than text or images alone. The immersive experience of video is deeply engaging, and that drives conversions too. In 2023, Wyzowl reported that 84% of people say a brand’s video convinced them to buy a product or service, attesting to the persuasive power of video.
Pro tip: Tell a story with video! Video satisfies the modern consumer’s preference for classic storytelling combined with the emotional punch of visuals, music, and sound – all packaged in a fast digital experience that they can watch on their phone or computer.
4. Native Video Provides a Powerful Edge in Exposure
Now let’s step out of the “walled gardens” of social media and look at the open web, where people discover recommended content on their favorite and frequently visited sites. Native video ads can give you a significant advantage in terms of user engagement. According to Outbrain’s data, native videos get an average of 50% completion rate, as well as a 60% average viewability!
Why? When a person is browsing the web, skimming articles on a news or entertainment site, or reading about a topic of interest, they are primed to discover new products and brands. They are open and curious to content that meets their needs – they are in “discovery mode”. So, when they are exposed to a native ad in attractive video format, engagement goes through the roof.
Pro tip: More brands and marketers today are choosing to leverage native ads on the open web, particularly native video ad formats that are even more effective at capturing audience attention. You can be one of those marketers too!
5. Video ROI Spells Success
Video content is not just a medium for storytelling or brand awareness; it boosts return on investment (ROI), spelling success for marketers who capitalize on its benefits. By leveraging Outbrain native video ads, Bosch together with segmenta agency promoted a campaign that led to a 25% increase in dwell time and 80% reduction in Cost-per-Click (CPC) compared to other channels.
This indicates a direct correlation between strategic video use and measurable business outcomes. Investing in video content is casting a vote for tangible value, not just in viewership but in impressive boosts to the bottom line.
6. Nearly One-Third of the World is on YouTube
As of 2024, YouTube had an incredible 2.49 billion monthly users. (The world’s entire population stands at just under 8 million!). If you’ve produced videos for your brand before, you probably already created a YouTube channel where you uploaded your content. But now it’s time to step up your game and get to work promoting your YouTube channel.
Pro tip: YouTube is just like any other social media platform: consistency pays off. Create videos regularly (or even start a video series!) to gain more subscribers and strengthen your online presence.
7. Exploring New Channels
There is no discussion about video marketing statistics without a mention of TikTok. TikTok users are highly active, and while the largest age group on TikTok is 18 to 24 years, there are also plenty of people in their 30s and 40s using the platform.
Pro tip: As a digital marketing rule, your brand should have a strong presence on every media channel where your audience spends their time. Video is a preferred format across all channels, from Facebook to X, Outbrain to TikTok, YouTube (of course) to Telegram. If your audience is there, make sure your videos are too.
8. The Videos People Love Best
Music videos are the most popular form of video content, with nearly 50% of people preferring them. After that, people love comedy, memes, and viral videos (35%), followed by video live streams (28%) and tutorial or how-to videos (25%).
Pro tip: Don’t limit yourself to any one type of video. Get creative and explore different video formats and styles for different marketing goals, and see what resonates with your audience. And have fun expressing your inner artist too!
Video is Now and the Future
When it comes to marketing trends, a reliable place to start is with hard data and statistics, and they all point to the essential value of video content.
Hopefully, you’ll use these video marketing statistics to rethink your strategy ahead, explore new alternatives you didn’t consider before, and create valuable video content that makes a difference in your customers’ everyday lives.
