Video—especially on social media platforms—is quickly becoming the new communication standard. But don’t just take our word for it…check out what some of today’s important voices have to say on the subject of video in our mobile- and content-centric world:
On Video and Content
For all the industry’s value and opportunity, almost every aspect of the video business is under attack or in a state of flux. Earlier this year, the REDEF team created a deck designed to help leaders chart a path forward. We’re excited to share it with you today.
Not to get too carried away, let me temper my enthusiasm by saying that the future hasn’t arrived whole and in its shiny entirety. The innovations are out there in the real world, but these are still Wild West days for the new era of video, and realizing the transition won’t be without its difficulties. But I believe if you’re an entrepreneur, you should be excited that the online video landscape is inchoate, because that means there are enormous rewards awaiting anyone who can solve the challenges. I’ll elaborate on a couple of areas of great opportunity…
Over the past century, technological advancements have massively reduced the cost and time needed to create and circulate content. Though this has liberated artists, consumers are now drowning in a virtually infinite supply of things to watch, listen to and read. The answer to a world where attention is the key constraint, not capital or distribution, isn’t Big Media—it’s the Influencer Curator.
On Publishing and Advertising
So who wins as a result of this change? The short answer is everyone. Publishers now have an enormous opportunity in front of them. The largest audience ever assembled in the history of the world just became open for business, complete with all of the tools to foster propagation of engaging content, and the most sophisticated ad targeting technology ever built. If it sticks, it will be easier to monetize content on Facebook than anywhere else.
“Mobile is a major driver of all digital revenue. Desktop is declining in some areas and mobile is taking share,” said David Doty, chief marketing officer at IAB. “The behavior of consumers has outpaced the spending patterns of marketers, but now we’re seeing marketers catching up.”
Businesses on Facebook bring their stories to life with captivating video ads, and now more people than ever are sharing, discovering and engaging with videos in News Feed. We want to amplify this connective power of video, so we’re rolling out new products and features that make organic videos and video ads in News Feed more rich and engaging.
Despite the challenges publishers still see video as a key piece of their editorial strategy, and they’re not pulling back. For 56 percent of publishers, video ranks as the single most important aspect of their editorial strategy in 2017.
On Social Platforms
Facebook has changed the way it chooses videos to surface on your News Feed, and this new method favors longer clips. The social network explains in its latest blog post that “percent completion” or the percentage of each video you watch helps its algorithm understand what kind of content you enjoy. “If you watch most or all of a video, that tells us that you found the video to be compelling—and we know that completing a longer video is a bigger commitment than completing a shorter one,” the post reads.
Ads will now show up between some Stories, which take up the full phone screen and otherwise seamlessly transition from one account to the next. (Snapchat, which has 150 million daily users overall, runs similar ads.) Instagram will soon begin with ads from more than 30 companies—including General Motors, Netflix, Airbnb and Capital One—before expanding to all advertisers in coming weeks. It will monitor feedback to determine how often the ads will appear, said James Quarles, the vice president of Instagram Business.
The next-generation television company may be in your pocket. Snapchat, once pegged by the public as a social-messaging app and recently self-declared camera-based platform, is actually starting to look more and more like TV for young viewers who prefer smartphones over flat screens, industry players say.