Will Facebook Be All Video Soon

Facebook has been making some major moves towards video in the last few years and with their acquisition of Oculus does that mean an all video Facebook

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Article Published / Updated: Thr, 21 Jul 2016 15:10:00

For many years now Facebook's CEO, Mark Zuckerberg, has been talking about video, video, video and about Facebook's impending move towards video. For those of you who think talk is cheap, it is never cheap when Mr. Zuckerberg talks. Here is why it make sense to move to video.

Facebook's Numbers: More Consumption

Globally, user-posted videos on Facebook increased by 75% in 2015. Hootsuite reports that the amount of videos shared in News Feeds has increased by 3.6 times year-over-year since 2014.

It comes as no surprise when we read that 50% of Facebook users in the US now watch at least one video on the platform every day.

As tools for high-quality mobile video have become readily available, mobile viewing has spiked to account for 65% of all Facebook video views, a huge contribution to Facebook's recent rise in video production and consumption.

It's not only the platform that's encouraging more video use, its consumer demand that's driving the shift.

Facebook's Exploration of New Video Formats

Facebook has already expanded into new video formats and that is playing its part. They recently aquired Oculus. They are hoping it will pay dividends when Facebook launches its home VR devices. VR users have already watched over 1 million hours of video via the Samsung VR gear alone. Facebook's social VR team will soon be putting more focus on integrating Oculus' technology into Facebook's web platform.

Facebook Live, is also set to generate money for the company. Facebook's data shows that viewers spend 3 times longer watching live video on Facebook over pre-recorded content, a trend which has prompted Facebook to further emphasize Live by adding new features to the Live mobile app and making Live videos more likely to appear on users' News Feeds.

It is clear that Facebook is commited to new video formats and Facebook is ready to capitalize on them.

General Trends Towards Video Content

According to Cisco, video will account for 80% of global internet traffic by 2019, and nearly a million minutes of video will be transmitted every second. YouTubers, who make up almost one-third of all internet users, have increased in number by 40% year-after-year since 2014. In addition, the number of hours YouTubers have spent watching videos has increased by 60% every year since 2014 also.

Snapchat, in just a few short months, shows us the number of daily video views on their platform has grown from 8 billion to 10 billion.

There's been a rapid, explosive increase in videos being produced and viewed online, and this trend reinforces Facebook's own move towards becoming a primarily video-oriented platform.

Major Content Creators Are Moving Towards Video

Digital marketing firms like Position Front Page have already shifted into the production and development of good quality videos for online marketing purposes.

According to the marketing guru, Archie Glikakis, putting a video in an email increases the click-through rate by over 200%. Product Videos increase users' likelihood of purchasing that product online by 64% due to consumer trust in video ads.

Videos have also become extremely important to landing page design where, if it is well placed and well made, it can increase conversion rates by 80%.

Summary

Due to these stats, 65% of Corporate Ad departments now plan to increase their video ad budgets. With so many content creators, internet users, and social media platforms treating video production and viewing as a focal point for online consumption, it makes sense for Facebook to be all video soon!

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Artemis Glikakis is the Managing Director of Position Front Page International Co., Ltd.. His expertise in this field of Internet Marketing and Search Engine Optimization, has lead him to write many articles on the subject and he is always in the forefront when large clients come along.

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