To most of us, it’s clear that streaming is becoming the primary way we consume video content. For video marketers, it’s important to understand these trends in detail so we can adapt our video marketing strategies accordingly.
To help keep you up to date on video streaming trends, here are 5 interesting video streaming statistics and why they’re important for marketers.
Currently, there are 33 million cord-cutters in the United States. By 2022, this number is expected to grow to 55 million.
Clearly, video consumption is moving toward streaming and away from traditional cable. This is important for marketers to know when deciding how to allocate their advertising budgets. There are still a large number of cable subscribers in the U.S. but increasingly, it makes sense to allocate the majority of your ad budget to digital channels like YouTube or Hulu.
Advertising on digital video platforms is more advantageous to marketers than traditional TV placements, anyway. You have more advanced targeting options and get more exact data on how many people actually saw and reacted to your ad, which makes it easier to measure ROI.
In the U.S. 57% of the population has access to a streaming service like Netflix or Hulu. This is quickly catching up with the country’s 87% internet access penetration level.
Even more important to understand is that Americans subscribe to an average of 3 video streaming services. This means that if someone has access to Netflix, they likely also use Amazon or Hulu, which means you still have a chance at reaching them with your advertising messages.
Understanding the video consumption habits of your audience can help you relate to them on social media. Hijacking trending hashtags related to Netflix releases, for example, can be a great way to connect with your audience.
YouTube has 192 million U.S. users. Netflix isn’t far behind with over 147 million subscribers.
If content marketing is your method of choice for reaching your audience, leveraging YouTube is a great way to pick up some exposure for your brand. With “How-To” video searches growing at 70% per year, there are lots of opportunities to engage and educate your audience.
If advertising is where you want to invest, YouTube and Hulu both have great reach (192 million and 55 million users, respectively), but the campaigns need to be tailored to the platform. Which brings us to our next data point…
One of the most interesting data points about video streaming is how much of it is actually on a TV – 70%!
This may change how you leverage advertising on YouTube or Hulu. Both platforms give you an array of targeting options, such as desktop, mobile, or TV, but understanding the behaviors of your audience while streaming video content on each of these devices is important in crafting your message.
For example, most people who are watching video content on their TVs are also active on their mobile devices. Viewers on mobile or desktop are much less likely to exhibit this behavior.
Because of this, craft your advertising message appropriately. Knowing that TV viewers likely have their phones out during ads, build an ad that encourages them to take action on their phone. Direct response video ads may be more fitting for desktop or mobile devices.
International growth of video streaming is faster than that of the U.S. – especially in developing countries that are gaining access to an internet connection. India, for example, is projected to grow to more than $3 billion in revenue by 2024.
If your business is planning an international expansion anytime soon, leveraging your video marketing tactics will likely be effective in these markets as well. Just be sure to create content in their native language.
Below is a handy Infographic featuring these 5 points about video streaming:
[Image sources- Main: Margot Robbie at the Birds Of Prey official movie poster, Infographic: Infinera]