In 2023, video continues to dominate the digital landscape. And the statistics prove it.
Video is one of the most powerful mediums for communication and engagement. As we gear up for 2024 and beyond, it’s important to stay ahead of the curve by understanding the latest video statistics and trends. From skyrocketing company adoption to the rise of user generated content videos, the following stats reveal the key insights you need to know to leverage the untapped potential of video marketing.
Let’s dive in:
Video consumption statistics
Globally, there are 3.5 billion digital video viewers. (Statista, 2023)
In 2023, online video is accounts for 82.5% of all web traffic, making it the most popular type of content over the internet. (Cisco, 2023)
Online videos are seen by people 19 hours each week on average. (DemandSage, 2023)
96% of people have watched an explainer video to get a better understanding of a product. (Yans 2023)
People spend 100 minutes on average on video consumption per day, globally. (Mediapost, 2023)
Video marketing statistics
38% of marketers say it has become easier to make videos in-house rather than outsourcing. (Dash, 2023)
96% of marketers say video is a vital part of their marketing strategy. (Wyzowl, 2023)
Over the last 7 years, there has been a 25% growth in firms embracing video as a marketing strategy. (DemandSage, 2023)
48% of marketers they feel their organization wasn’t using existing video to its full potential. (Statista, 2023)
31% of organizations plan to increase their investment in online video software. (DemandSage, 2023)
52% of companies create videos to educate their audience. (Wistia, 2023)
86% of marketers claim that video is successful in generating leads. (DemandSage, 2023)
Video Retention, Sharing, and Length Statistics
Videos are twice as likely to be shared than any other type of internet content. (Wyzowl, 2023)
The average retention rate for videos across the board is 54%. (Vidyard, 2022)
More people than ever before are watching videos with closed captions. (Yahoo, 2023)
75% of people watch short-form video content on their mobile. (Inside Intelligence, 2023)
More brands are creating long-form videos. 16% of viewers stuck with a 60-minute video all the way through. (Wistia, 2023)
83% of Marketers say short-form videos should be under 60 seconds. (HubSpot, 2023)
Video Purchasing and Lead Generation Statistics
64% of global customers make purchases after watching a brand’s social videos. (DemandSage, 2023)
85% of people are more likely to buy a product after seeing an explainer video. (Wyzowl, 2023)
69% of consumers believe a product demo best assists them when making a purchase. (Vidyard, 2022)
Live Video and Influencer Marketing Statistics
53% of companies have used live video in some form. (Wistia, 2023)
The influencer marketing segment is worth $13.8 billion worldwide. (DemandSage, 2023)
58% of consumers think user generated content is more authentic than branded content. (Nosto, 2019)
93% of marketers aren’t using user generated content yet. (TINT, 2023)
Video Platform Statistics
As of 2023, Instagram has over 2 billion monthly active users who all use Reels, and 500 million daily active users. (DemandSage, 2023)
TikTok has over 1.53 billion monthly active users currently, and people watch over 1 billion videos on TikTok daily. (DemandSage, 2023)
Youtube has more than 2.5 billion active users currently, and is the world’s largest video-sharing network. as well as the second-largest social media platform. YouTube users watch 1 billion hours of video daily. (DemandSage, 2023)
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As you can see, video continues to dominate and it’s only going up from here. We hope these video stats have been enlightening. For a great video editing and distribution platform, check out Digital Joy Studio.
