Millennials are spending more time than ever watching short-form video content on their mobile devices, and players like Facebook and Snapchat are reaping the benefits. These platforms — which capture billions of video views each day — are competing to capture growing mobile audiences and challenge the historical dominance of YouTube. The ensuing bout will create a new set of opportunities for content creators looking to cash in on the mobile video craze.
In a new report from BI Intelligence, we take a look at the explosion of short-form mobile video. We examine how YouTube, the historically dominant force in short-form video, was slow to implement a mobile video strategy, opening the door for new players — namely Facebook and Snapchat — to emerge. We also take a look at how winners will begin to emerge in distinct video content categories. YouTube, for instance, will rely heavily on its homegrown YouTube stars to distinguish its video library and drive loyalty. Facebook will become the go-to place for brands and media companies to engage with the largest audience. And Snapchat will utilise its live-events coverage and exclusive content to promote video communication among younger mobile audiences
Here are some key takeaways from the report:
- The rise in mobile video viewing can be attributed to several factors: an increase in overall time spent on mobile, the convenience of on-demand viewing, a preference for digital video viewing, and the increased availability of mobile video content.
- As video becomes mobile-first, YouTube’s hold on the short-form video industry is waning. The number of videos that are uploaded to the platform per month has remained stagnant over the past year, according to Socialbakers data shared with BI Intelligence.
- Facebook is in the best position to upset YouTube as the go-to place for brand and media companies to upload videos and for users to watch these videos. Although Snapchat may not be competing with Facebook and YouTube on video volume, the app is changing how consumers, brands, and publishers are using mobile video for communication, news and entertainment, and live-event coverage.
In full, the report:
- Maps out the rise of mobile video viewing and lays out the main drivers of this trend.
- Examines why YouTube’s hold on the short-form video industry is waning as viewers migrate to mobile viewing.
- Illustrates the dramatic increase in the number of videos that brands and media companies are publishing to Facebook over the past year.
- Forecasts the number of videos that US brands and media companies will publish to both Facebook and YouTube in 2016.
- Explains how Snapchat is able to compete with larger video platforms and is changing how brands, media companies, and consumers are using mobile video.
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