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10 Video Production Marketing Statistics That You Need To Know In 2023
by eguaogie-eghosa Mar 22, 2023 Views (448)

If video production marketing is the future, then it has arrived. If you've been wondering whether it's worth investing in video production marketing for your business, you've come to the right place. Do you have the necessary resources to produce videos? Are there a sufficient number of people in your target audience who are interested in videos? Will the effort be worthwhile in the end? In a nutshell, yes.

In this article, we will go over some of the key video production marketing statistics for 2023 that will help you see why video production marketing is so important right now. Use these simple video production marketing statistics to help guide your video production marketing strategy in 2023.

If you want to become a video marketing master, check out this video production marketing guide and this list of the best free video production editing software available on the internet today.

Before we get into video production marketing statistics, let's take a quick look at the different types of video production content you can use to market your business. Explainer videos, which are short videos that explain products or services, are a popular type of video production content used by businesses. Other popular types of video production content include vlogs (video blogs), video interviews, video presentations, tutorials, product reviews, product demos, recordings of live streams, video testimonials, and video ads.

Let's consider the data on video marketing and reveal the statistics behind them. We've gathered the most recent data to ensure that your Video Production marketing strategy for 2023 is on point.

 

1. Internet users all over the world enjoy video content.

Video production content is becoming increasingly popular.

The number of people watching digital videos in the United States reached 244.4 million in 2020, exceeding experts' predictions by a wide margin (Business Insider, 2020).

Despite analysts' claims that this surge was primarily driven by the youngest and oldest age groups, the most recent video production marketing statistics show that the majority of digital video viewers are young adults. In fact, more than nine out of ten US consumers aged 12 to 44 are digital viewers.

A closer look reveals that 97.8% of US internet users aged 18 to 24 consider themselves to be digital video viewers. This is followed by users aged 12 to 17, with 96.2% watching online videos.

The age group with the lowest digital video viewership is 65 and up. Only 63.8% of people in this age group use the internet to watch videos.

 

2. There is an increase in the demand for video production content.

Video production content is preferred not only for entertainment purposes but also by businesses. According to a recent study, as many as 91% of consumers are open to seeing more online video production content from brands (Wyzowl, 2023).

With the rising demand for video production content, many industry influencers can be seen proactively producing various types of video production content to meet this rising demand. According to the survey, the percentage of people who want online videos from brands has been increasing over the last few years and is now at its peak. In 2018, for instance, 85% of people agreed that they were interested in seeing more online videos.

According to experts, brand demand for video production content is increasing because people are more likely to pay attention to it. In comparison, consumers are more likely to skip parts of the audio and written content. So, if you want to attract more attention to your brand, video production is an excellent choice.

 

3. Video as an Effective Marketing Tool

Given the increased demand for video production content, it's no surprise that an increasing number of businesses are incorporating video production content into their digital marketing strategy. After all, marketing professionals cannot afford to overlook the opportunities that video production content can provide.

According to the most recent video production marketing statistics, 86% of marketing professionals use video production as a marketing tool (Wyzowl, 2021).

These marketing professionals believe video production has the potential to help them grow their businesses. The majority of them (78%) believe that video productions have directly increased sales, while 86% believe that video productions have increased traffic to their website.

 

4. Customers Enjoy Watching Videos on Social Media.

Users are seeing an increase in the number of videos across all platforms. Whether on blogs, Instagram, TikTok, or YouTube, video productions have become an integral part of the online experience—particularly on social media.

However, not all video production content is created equal, and as a brand owner, you should be aware of this video production marketing statistic. Short-form video productions are the most engaging, according to a recent survey. Short-form video productions are preferred by nearly two-thirds of consumers (66%)—2.5 times more than long-form video (Sprout Social, 2022).

 

5. Video Marketing is Profitable

The ROI determines whether or not you should invest in video production marketing (ROI). Here are some hard figures: In 2023, 92% of video marketers say video production provides a good ROI—a new high (Wyzowl, 2023). Only five years ago, 78% of video marketers felt the same way, a 14 percentage point difference.

Companies use video marketing to increase sales, build brand awareness and trust, inform current customers, and reach out to potential customers. Instagram, YouTube, and Facebook are the platforms most commonly used by marketers for posting social media marketing videos and video ads.

 

6. Lead Generation Through Video Marketing

Video marketers generate 66% more qualified leads per year, according to OptinMonster (OptinMonster, 2019). According to OptinMonster, video production marketers achieve a 54% increase in brand awareness. Furthermore, 93% of marketers say a social media video helped them gain a new customer.

Customers not only gain trust in companies, but they can also learn about the company or its products through interactive visuals. These statistics demonstrate that there is no reason to doubt the value of video production marketing for businesses. Video production marketing in 2023 will be an excellent way to expand your network and customer base not only now, but also in the future.

 

7. Social Media Channel Video Marketing

YouTube is the most popular social media platform for marketers to publish videos on, according to the most recent video marketing statistics. Almost nine out of ten (89%) marketers plan to use YouTube for video marketing (Wyzowl, 2021).

This is followed by Facebook, the social media king. Seven out of ten marketers intend to use the platform for video marketing. LinkedIn is a relatively new player in the video marketing space, having only launched video features in 2017.

However, it has already surpassed other platforms such as Instagram and Twitter to become the third-most-popular social media platform for video marketing. Just under two-thirds (63%) of marketers plan to use video on LinkedIn.

 

8. The Influence of Video on Purchasing Decisions

Videos not only help to keep users interested, but they are also vital in the decision-making process of viewers. According to a Wyzowl survey, nearly eight out of every ten users purchased a piece of software or app after watching the brand's video (Wyzowl, 2018).

And the impact of video marketing can be felt throughout the buyer's journey. According to the same study, the majority of people (96%, to be exact) turn to video productions to learn more about a specific product and/or service.

 

9. Video Production is Increasing in Popularity

Users watched online videos for an average of six hours and 48 minutes per week in 2019, a 59% increase from just three years prior in 2016. (Limelight, 2019).

All indications point to this trend continuing. Already, audiences under the age of 36 spend more time online watching videos than on traditional broadcast mediums such as televisions.

In terms of daily video consumption, the current global average is 84 minutes, led by China and Sweden, whose populations spent 103 minutes per day watching online videos in 2019.

 

10. The Role of Video in Internet Traffic

And, given video's growing popularity, it's no surprise that its market share in internet traffic is growing.

Video streaming and downloads are expected to account for 82% of global internet traffic in 2022. (Cisco, 2019). This represents an 88% increase from 72.3% in 2017.

To put things in context, 56 exabytes (equivalent to one billion gigabytes) of internet video were consumed monthly in 2017. In 2023, this figure will have more than quadrupled to 240 exabytes per month.

 

Conclusion

That's all you need to know about video marketing statistics for 2023. We hope this has shed some light on how Video Production marketing can benefit your eCommerce business!

If you're thinking about investing in video marketing, you'll be relieved to know that you don't need a large budget or outside resources to create videos. Smaller businesses are not at a disadvantage when it comes to video production.

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