My daughter just returned from a ski trip, and she told me during their time at the lodge the girls spent a lot of time showing one another funny videos on their phones. This, as you know, is not unusual. Mobile video viewing is on the rise.
That’s because most people spend a lot of time using their smartphones in general. Pair that with the convenience of on-demand viewing, the wide availability of mobile video content, and the preference for digital video viewing, and you’ve got a movement, as Business Insider notes in a new report on the explosion of short-form mobile video.
As the report notes, although YouTube (News - Alert) was first to the table in the short-form video space, it’s dominant in this space is not growing, and others like Facebook and Snapchat are moving in on its territory. Facebook (News - Alert), BI suggests, is best positioned to wrest the short-form video leadership spot from YouTube. A billion users are already on Facebook, so it clearly has a strong embedded base. Meanwhile, BI points out, Snapchat has changed how brands, people, and publishers use mobile video to communicate, share and report news, and have fun.
According to HubSpot (News - Alert), 50 percent of online video last year accounts for 50 percent of all mobile traffic, 65 percent of video viewers watch more than three-fourths of a video, 78 percent of people watch videos online weekly, and 55 percent of people watch videos online daily. The company also reports that by 2017 video will account for 69 percent of consumer Internet traffic, and by 2018 will account for 79 percent of it.
Interestingly for those in the business world, more than 80 percent of senior executives watch more online video today than they did a year ago, HubSpot says, and 75 percent of business executives watch work-related videos at least weekly.