Short-Form Video Take a Bigger Chunk of Marketing Spend
Short-Form Video Take a Bigger Chunk of Marketing Spend
Brands constantly try to guess what’s next in marketing. It makes the most sense to meet consumers where they are — on their phones watching videos.
The online video climate has developed considerably, even in the past couple years. For businesses looking to adopt internet video content — especially a personal brand ready to utilize short-form video optimized for mobile — the iron is hot for the striking.
Rising social media platform Tik Tok, which offers a set of features for creating and sharing short videos, has seen adult users increase exponentially in the past few months, rising to more than 500 million active users.
In addition, Jeffrey Katzenberg’s billion-dollar mobile video platform Quibi (“quick bites”) is earning comparisons to Netflix. Beyond the hype, it has some interesting things going for it. At CES, Quibi announced a technology called “Turnstile,” which allows its content to shift from portrait to landscape anytime you turn your phone. In the meantime, it remains in full-screen mode, focused on the action.
Following the Video Money Trail
Quibi has a lot of corporate money behind it — short-form video, as an industry, is blowing up. Katzenberg knows this, as does Quibi CEO Meg Whitman, who previously helmed both HP and eBay. Their plan to capitalize on the popularity of short-form video content is timely.
Quibi’s main rival, YouTube, hit 2 billion users this year, bringing it neck-and-neck with Facebook as the world’s most popular social platform. Ninety-five percent of internet users worldwide watch YouTube. According to some reports, the world watches as much YouTube content every day as it does on Netflix in a week.
If you want to reach people, short-form video is increasingly the easiest way to do so. If you’ve been thinking about moving your business in this direction, consider this your signal to make the move.
