It’s been over a decade since the creation of YouTube and, since its launch in 2005, the term “viral” has taken on a whole new meaning with the popularity of digital videos skyrocketing. Today, almost every social platform is saturated with videos. These videos fall under a plethora of categories but one type of video that has progressed in popularity is social video advertisements.
YouTube isn’t losing momentum with the popularity of videos on other sites. Competition from other platforms hosting digital videos doesn’t seem to be an issue considering YouTube’s popularity has only increased. According to study done by eMarketer, it is estimated that 85% of viewers of digital videos are from YouTube. The continuous growth of the platform has caused an increase in the number of ads bought by marketers in the past year. In 2017 it is estimated that 40% of ad spending will go towards digital ads.
Another big player in the future of videos on social is Facebook. In 2016 we saw an increase in the number of video ads used on the site, and the social media network also recently announced that it is changing its video algorithm, placing longer videos at the top of viewers news feeds. This comes after tension between marketers and the network due to inaccurate measurement of video ads. The new algorithm will change the way users view video and how advertisers measure their video metrics.
Like most fads, we may expect to see the popularity of video content dwindle, however that does not seem to be the case. Video is the present and the future of social media. Social media platforms like Facebook, Twitter, Instagram and Snapchat all support features that allow users to view and upload videos.
The introduction of Live Videos transformed the way social users are interacting with videos. Users can now create, view and share live videos. Brands have optimized their social strategies to include live videos. The use of this latest feature on platforms such as Facebook and Instagram help brands build brand awareness, loyalty and increase consumer engagement.
Marketing experts have gone far enough to state that the number 1 trend anticipated for 2017 will be using video to solidify a brand. Videos have become a huge game-changer in the world of marketing. We expect to see the number of video content from brands to involve the use of more interactive strategies, such as live videos with higher user input and audience engagement.