Editor’s note: In some statistics, percentages add to over 100% because the surveyed marketers were allowed to pick multiple options.
Video marketing statistics: Basics
Video popularity has surged, with YouTube content more than tripling since 2018.
- In a recent survey, the use of video by businesses has been steadily on the rise since 2016. Starting at a 61% usage rate in 2016, video marketing popularity reached 91% in 2023.
Video use over time for marketing
Made by: Photutorial
- This steady growth in video usage reflects the ever-growing importance of video in today’s marketing landscape. With businesses increasingly recognizing the potential of video, we can predict even higher usage rates in the years to come, possibly reaching 95% by 2030.
- 96% of marketers value video as a crucial marketing strategy. Since 2015, the percentage of businesses that view video as an essential part of their marketing has been on an upward trend. Starting at 78% in 2015, it soared to a whopping 96% in 2023, compared to just 92% in 2022.
- Of 9% of businesses that don’t use video marketing, 30% of them don’t use video due to time constraints. Other reasons include not knowing where to start (18%), inability to convince key decision-makers (10%), high costs (10%), thinking video is not important (8%), and thinking that video won’t bring good ROI (5%).
- 70% of non-video marketers plan to start using video, a drop from 79% in 2022 and almost identical to 69% in 2021.
- 17% of marketers tried video for the first time. This group was new to video marketing, showing that the trend to include video in the marketing mix is still growing.
- Increased ease of use is the leading reason for new adopters (41%) of video marketing. Among other reasons were easier convincing of decision-makers (39%), quicker production times (34%), lower costs (30%), clearere ROI (22%), and out of necessity (20%).
Sources: Photutorial, Wyzowl
Video marketing audience
- Over three and half billion internet users watch or download videos at least once per month. This number is projected to reach 4 billion around 2026.
- People spend 19 hours per week watching online videos. This makes around 80 hours per month and almost a thousand hours in a year (that’s ~42 days).
- Around 92% of internet users worldwide consume recorded videos.
- The most popular video content type includes music (49.4%), comedy, viral video, or meme (35.3%), live streams (27.6%), tutorials (26.4%), and more.
Video marketing types
- Video marketing preferences show a fairly even distribution among types: live-action leads with 66% of marketers’ choice, followed closely by screen-recorded videos at 57%—key for tutorials and demos—and animated videos at 55%.
- Companies most commonly create social media videos (71%), followed by explainer videos (70%), presentation videos (50%), and testimonial videos (46%).
Type of videos companis create
Made by: Photutorial
Video marketing costs
Many video marketers are using affordable or free video marketing channels, and most spend very little on their typical video content. When brands choose to invest more, they often spend between $1,000 and $5,000 per video. Still, a few brands are ready to spend even more on video marketing. In the end, marketing videos come with a wide variety of price tags and are becoming more accessible to many kinds of businesses.
- Companies typically spend around $4,000 on a video. Spending varies, with 60% of companies spending under $1,000, 25% spending between $1,000 and $5,000, and 16% spending more than $5,000, sometimes exceeding $20,000 per video.
How much companies spend on a video
Made by: Photutorial
- Of marketers surveyed, 39% think video marketing is becoming more expensive, 35% haven’t noticed a cost change, and 26% feel it’s getting cheaper.
- For gauging video marketing success, 63% of marketers rely on view counts, but they also track engagement (61%), leads (56%), brand awareness (43%), customer retention (42%), and sales revenue (26%). Interestingly, 11% don’t measure ROI.
- An overwhelming 96% of marketers noted that video enhanced user comprehension of products or services in 2022, continuing an upward trend from 80% in 2015.
- A significant 95% of marketers agree that video has increased brand awareness, with only 5% not seeing its benefit.
- Video marketing is recognized by 91% of marketers for increasing website traffic, showing a steady rise from 59% in 2015.
- Consistently, 90% of marketers attribute improvements in lead generation to video marketing, indicating growth from an 81% agreement in 2019.
- According to 87% of marketers, video content has boosted sales and increased the time visitors spend on their websites.
- A majority, 53% of marketers, report fewer customer support queries thanks to video content.
- A notable 92% of marketers confirm that video marketing provides a good return on investment, up from 76% in 2015.
- YouTube video editors charge between $100 and $200 for a simple video, and over $1,000 for more complex videos.
Customers & video marketing
Video content significantly shapes consumer behavior, influencing purchases and encouraging more sharing among viewers than any other content type. People want to see more videos from brands, indicating its critical role in online marketing and the consumer journey. Despite a small dip, video watching remains a major activity, underscoring its importance in the digital landscape.
- There’s been a high and increasing number of people who watch explainer videos to learn about products or services, with the percentage rising from 80% in 2015 to 96% in 2023.
- A growing proportion of viewers report being convinced to purchase a product or service after watching a video, with the figures increasing from 73% in 2015 to 89% in 2023.
- In 2023, 79% of individuals reported being convinced to purchase software or an app after watching a video, reflecting a relatively stable trend over the previous years.
- A growing number of consumers, reaching 91% in 2023, express a desire to see more online video content from brands, indicating a robust demand for video marketing.
- Video is the preferred content type to share among users, with 51% more likely to share videos over other types of content, suggesting video’s dominance in shareability.
- On average, individuals watched 17 hours of online video content per week in 2023, slightly less than in the previous two years but still significantly higher than in earlier years.
Video marketing channels
- YouTube is the most widely used video marketing platform with 90% of video marketers using it. Next up is Facebook (86%), followed by LinkedIn and Instagram (both at 79%).
- Less popular platforms include Webinar (60%), Interactive Video (31%), 360 Video (17%), 3D Video/Augmented Reality (15%), andVR (13%).
- Despite their popularity as social media platforms, Snapchat (13%), TikTok (31%), and Twitter (54%) are used by very few brands.
- YouTube is also the most effective platform for video marketing, with 78% approval rating. Other effective video marketing channels include LinkedIn (69%), Instagram (67%), and Facebook (63%)
- TikTok and Interactive Video are seen as effective by 27% of marketers, Twitter by 24%, 360 Video and 3D/AR by 10%, VR by 9%, and Snapchat trails at 8%.
- Live video is still used rarely. Only 36% of marketers have used live video content, indicating a hesitancy to adopt this format widely.