50 Video Statistics You Should Know in 2023

Jeff Beckman

from Techreport on 2023-07-16 22:53 (#6D138)

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Video content is better. Recalling the video you watched last week is more accessible than remembering the text you read yesterday. In this article, we'll look at stunning statistics that cover video consumption worldwide, by different ages and groups, and other types of videos that viewers find interesting.

We will also outline stats regarding the cost of video production, the future of video, and the role of AI in the process. Keep reading to learn about all the video statistics you need to know today.

Highlights

Internet users tend to recall 95% of information passed through video than 10% of texts.
YouTube has over 2.6 billion monthly active users worldwide.
In 2022, 82% of videos made up the internet traffic.
Creating a one-minute video will cost about $1,500 to $10,000.

The Increase in Watching Videos

Nowadays, people prefer to spend time watching videos than reading texts. It's so obvious why people love to watch videos; it is entertaining and engaging.

With how technologies advance, creating and circulating videos are becoming very easy with social media platforms such as; Facebook, Instagram, TikTok, etc.

Video Consumption Statistics

1. Every week, an average of internet users spend 6 hours to 48 minutes consuming videos, and in 2021, this figure is expected to increase by 35% due to device usage.

2. United States adults spend an average of 62 minutes daily consuming videos, 78% every week, and 55% watch daily.

3. 48.7% of viewers watch music videos (most high-rated videos online) at least once every week, while 34.8% of viewers watch comedies and memes (second most videos), 28.5% watch live stream videos, and 26.4% what DIY videos.

4. 75% of internet users prefer to watch concise videos from their devices.

5. 77% of United States adults of about 26 to 35 years watch videos on YouTube.

6. 88% of internet users confess that viewing a brand's video gives them confidence in the brand and its products, motivating them to patronize it.

7. TikTok records its users spending over 1.5 hours watching videos on TikTok every day.

8. YouTube has over 2.1 billion monthly active users worldwide and 122 million active users daily.

9. Baby Shark" by Pinkfong on January 13, 2022, was the first video to hit 10 million plus in the history of YouTube.

10. Social media marketing campaigns that use video confess a 34% increase in their marketing business.

Video Viewers Demographics

If you have reviewed the consumption statistics, you will concur that video is now a popular means of consuming content. However, as users continue to watch videos, it is crucial to comprehend the demographics of video consumption, how different ages consume videos, and why.

Generally, Millennials and Gen Z prefer to watch concise videos, and they can quickly post and share on their social media platforms. On the other hand, the baby boomers and Gen X prefer to watch longer videos, videos from 30 minutes and above. They tend to complain when a video is concise and would want to watch more. Though, as technology continues to increase, all these may change in no distant time.

11. 26% 0f Boomers, 48% of Gen Z, 54% of Millennials, and 56% of Gen Z say they always find something new on YouTube videos.

12. Children these days prefer to learn using videos than reading.

13. Gen Z is aged 9 to 24 years old. 98% of Gen Z own a smartphone and love posting photos and videos on social media. 32% watch videos on social media daily, 76% visit YouTube weekly, and 74% spend their leisure online.

14. Millennials are aged 25 to 45 years old. 28% of Gen Z love to view videos on their mobile device, 41% prefer to watch videos on their TV set than their phones, 61% view videos on YouTube every week, and 64% love to watch news on social media and online.

15. Gen X are aged 41 to 56 years old. YouTube recorded over 1.5 billion daily viewers from Gen X. 73% of Gen X view DIY videos on YouTube.

16. Baby Boomers are aged 57 to 75 years old. Baby Boomers prefer to watch traditional videos, especially their ethnicity, to know what is happening. That is why 51% of them watch news on their TV set, 50% watch videos online, and 82% love to watch videos on YouTube.

17. 96% of respondents reported that they prefer to watch videos for less than four minutes.

18. 75% of Baby Boomers respondents prefer to watch short videos, while 56% reported that they prefer to watch long videos on social media platforms.

19. On average, American teens spend more than three hours watching video content.

20. About 57% of online users haveused the internet to watch or download videos.

Video Engagement Trends and Metrics

Now we've known how different ages consume videos, let's see if it's every video we watch is fun. But honestly, videos are dull; some aren't educative and attach no value to the viewer. Some videos are very complicated, leaving the viewers more confused than before. So what makes videos captivating? Here is some data:

21. Marketers use video to promote their business, grow their social media followers, and enlighten their audience about their products.

22. YouTube has videos you can learn from. That is why about 86% of American viewers confess that they usually know new things from YouTube.

23. Recalling information after reading them may seem complicated, but such isn't the case for videos, as people can explain information from videos than from text. Study shows that 95% of viewers tend to retain information from videos compared to 10% when the data is from text.

24. Globally, 56% of videos produced last year were not more than 2 minutes of videos.

25. 76% of social media users search for products on social media platforms using videos.

26. Marketing a product with video increases your chances of selling your products by 80%, and internet users tend to buy products or services 1.6 times more than they see on videos.

27. More than image and text content combined, social video generates 1200% of shares.

28. The brain of human process visual contents 60,000 times faster than text, and 90% of information stored in the human brain is visual.

29. Compared to non-personalized videos, personalized versions will retain viewers by 35%.

30. People recall 80% of things they watch, 20% of what they read, and 10% of what they hear.

Cost of Video Production

One of the significant issues in producing video is the cost and time in the production as the demand for video is on the high side. Another major challenge in video production is translation. As the video goes viral in other countries that may not understand the dialect used in the video, they may not find the video interesting, even if it is.

Producing a video that people in different regions understand well is essential. However, creating videos with multiple languages can be stressful and expensive, as hiring people for voice acting can be very expensive, and subtitles can be so stressful to some people, as not everyone can read very fast.

31. The lowest price for a video explainer was $600, and the highest was $250,000, with an average of $10,983 and a median price of $5,400.

32. Pricing for a photographer differs on the kind of project. An average professional photographer might cost about $170 per hour to hire, and the price might also vary depending on the photographer's skill level.

33. Hiring a video editor might cost about $50 to $150 per hour.

34. Voice-over rates depend on the word count; 0- 60 minutes with 150 to 9,000 words cost about $50 to $1,250.

35. Most companies complain that the major problem hindering them from producing marketing videos are time (64%) and team size (45%).

36. So many people feel nervous in front of the camera, or their voices become shaky, called voice confrontation. To avoid this, you can always video yourself.

37. Consumers have more confidence in products marketed by influencers (61%) than in an ordinary social media account (38%). But getting an influencer might be expensive. A sponsored TikTok post by most influencers costs $3,514 on average.

38. For an organization to develop one hour of instructor-led trains will cost $5,934, and more to develop one hourof advanced e-learning, which is $50,371. So huge!

39. Producing a video should cost about $1,500 to $10,000 per finished video.

40. The price for studio shooting is about $400 an hour.

Video Production Future

In our previous section above, video production in the traditional form seems lengthier and more expensive. In contrast, AI videos create thousands of chances for video creators, democratizing video production and making it easy for everyone to access.

As a result, recent and unprecedented video formats will begin, including new platforms for distribution. Now let's see how and what the future video looks like and why?

41. The rate at which people prefer to watch videos over reading text will make more existing content be changed to videos in the nearest future.

42. One of the significant reasons video is very effective for marketers is because it enables them to condense lots of information into a short video. In the future, more marketers will market their products with more video than text.

43. Livestreaming videos will keep on growing.

44. Promoting video through free video features will continue to keep users engaged. TikTok is fast growing because its users post more videos than texts.

45. The future of marketing video is AI and data. Technology will forecast the practical option as companies continue to market their products through video content.

46. Soon, marketers will find the video necessary to market their products and services.

47. There will be lots of marketing competition on social media platforms, especially on Instagram and TikTok reels.

48. Companies won't stop investing in localization to derive revenue. Based on research, personalization drives 10% to 15% of revenue.

49. Optimizing video descriptions and allowing captions will continue to grow, with 53% of respondents in 2022 expecting their caption needs to increase either moderately or significantly.

50. Artificial Intelligence is gradually taking over the video production industry. AI writes automated scripts, edits videos, and takes part in post-production. AI helps to cut costs, works faster, and improves the quality of videos. With AI, the future of video production is safer.

Conclusion

Social video is the future of video content. Social media has about 2.3 billion active users worldwide. With the vast amount of active users, any company that hasn't started posting videos on social networks should begin now. Notably, all social networks upload videos with benefits. So as a starter, it will be good to use social networks for the impact you want to create. Also, always remember that your videos should always be short and straightforward.

FAQsWhy is video more effective than text?

1. The brain process visuals faster than texts, 2. It involves movement, text, and sounds, 3. Contains lots of information in a smaller package. A one-minute video can contain about 2 million words.

Why are video contents a good way to market products on social media?

Videos are the best way for a company to market its products because potential customers prefer to watch videos than read texts. Marketing your products through video will grow your consumer base.

What is the future of Ai video production?

The future of Ai video generation holds a deep potential and gives lots of benefits to companies and content creators, such as time-saving.

References

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