The use of video content has grown significantly in recent years, with people consuming more video content than ever before.
According to the Digital 2023 Global Overview Report, video content continues to gain in popularity, with projections showing that 82% of global internet traffic will be video content by 2023, up from 75% in 2019.
In this article, we will explore some of the key points related to video in the report, including the most widely used video platform, the growth of live streaming, short-form video, video advertising, mobile devices as the primary way of accessing video content, and how the COVID-19 pandemic has accelerated the growth of online video.
YouTube is the Most Widely Used Video Platform
YouTube is the most popular video platform globally, with over 2 billion monthly active users. The platform is widely used for entertainment, education, and information sharing. Facebook comes second with over 1 billion monthly active users for its video platform.
Live Streaming is Growing
The popularity of live streaming continues to grow, with the number of people streaming live video increasing significantly in recent years. In 2023, it is projected that 25% of internet users worldwide will be watching live streaming content. Live streaming is becoming increasingly popular for events, conferences, gaming, and social media platforms.
Short-Form Video is on the Rise
Short-form video platforms such as TikTok and Instagram Reels are becoming increasingly popular, especially among younger audiences. In 2023, it is projected that 1.4 billion people globally will be using short-form video apps. Short-form video is popular for entertainment, social media, and communication purposes.
Video Advertising is Growing
Video advertising continues to grow in popularity, with more brands and advertisers investing in video ads. In 2023, it is projected that video ad spending will reach $72.09 billion globally. Video ads are used for branding, product promotion, and awareness campaigns.
Mobile Devices are the Primary Way of Accessing Video Content
Mobile devices are the primary way that people access video content, with 75% of global video views coming from mobile devices. This is attributed to the widespread availability of smartphones and the ease of accessing content on the go.
COVID-19 Accelerated the Growth of Online Video
The COVID-19 pandemic has accelerated the growth of online video, with more people turning to video content as a source of entertainment and information during lockdowns and social distancing measures. The pandemic has led to an increase in remote work, education, and online shopping, which have further increased the use of video content.
In conclusion, the Digital 2023 Global Overview Report provides valuable insights into the trends and projections related to video content.
From the growing popularity of live streaming and short-form video to the increasing investment in video advertising and the predominance of mobile devices for accessing video content, the report highlights the importance of video as a communication and marketing tool.
The COVID-19 pandemic has also accelerated the growth of online video, emphasising the need for businesses and individuals to adapt to this rapidly evolving landscape.
Want to know more about video trends in 2023? Contact our team today!