Video has entered a brand new era. The significant increase in video consumption and production that began in 2020 continued in 2021. As a result, businesses should view video as a critical part of a successful marketing strategy.
Today we will show you some data about the state of video in 2022. Stay with us and check out the whole report here.
Strategy
The use of video is a critical component of any business’s marketing strategy, and most brands have similar goals for it. Typically, they are aligned with top- and middle-of-funnel strategies.
Source: 2022 State of Video Report
Despite being able to articulate their goals, only slightly more than half of the respondents said they had a concrete video strategy in place. Many companies want to create brand new types of videos in 2022 to achieve their goals. Original, branded series, product videos, and case study videos top the list.
Source: 2022 State of Video Report
Source: 2022 State of Video Report
Source: 2022 State of Video Report
Furthermore, many companies will increase their video budgets this year. Most companies looking to increase their spending want to increase it by at least 10%.
Source: 2022 State of Video Report
Source: 2022 State of Video Report
Creation
Compared to 2019, video creation efforts across categories have increased significantly over the past two years. As compared to 2020, video creation in 2021 held steady. Furthermore, almost 83% of companies made their first video before 2021. In spite of this, 17% of brands entered the market this year.
As the pandemic spread, Wistia’s video uploads jumped from 9 million in 2019 to 17 million in 2020. Businesses continue to invest in video in 2021, with those numbers holding steady.
Source: 2022 State of Video Report
Despite the popularity of short-form videos, long-form content has grown year over year. The result is that brands are more comfortable creating content with less editing (such as fireside chats, virtual events, and webinars), and viewers are willing to spend more time with them.
Source: 2022 State of Video Report
Source: 2022 State of Video Report
Video content is typically created by in-house video experts on a weekly or monthly basis. To fill in the gaps, other companies recruited freelancers and hired video production agencies.
Source: 2022 State of Video Report
Lack of time is the biggest obstacle to publishing new video content. Other barriers included company size, cost, technical capabilities, lack of ideas for content, and a lack of executive support.
Source: 2022 State of Video Report
Presentation
HD videos (1080p) still accounted for the majority of videos uploaded to Wistia, but 4K video uploads have increased by 55%. In the past three years, this segment has grown at the fastest rate. Camera technology and computer hardware trends are in sync with this. A growing number of people are capable of shooting in 4K, and more systems are supporting 4K workflows, so businesses are sharing their best-quality content.
Source: 2022 State of Video Report
In 2021, accessibility was a top priority. According to Wista, there was a 13.5% increase in videos that met three or more of these criteria.
Source: 2022 State of Video Report
Consumption
Plays on videos are up! The number of annual video plays increased by 77% from 2019 to 2021. In Q1, audiences played a lot more videos, but consumption leveled off thereafter.
Source: 2022 State of Video Report
Consumption increased even as creation slowed. This year, 14.6 billion minutes of video were watched. By comparison, there were 12.2 billion in 2020 and 121% more in 2019. Despite fewer videos being produced, demand for video content was at an all-time high, as shown in these two graphs.
Source: 2022 State of Video Report
Source: 2022 State of Video Report
Engagement
Engagement helps brands understand how much time viewers spend watching their videos. Over the last three years, this metric has not changed much. Engagement rates across all video lengths remain unchanged from 2019. Even though there is a very slight decrease from 2020, stability is a good thing.
Source: 2022 State of Video Report
Keep in mind that different factors affect engagement rates. If your goal is to increase engagement, a longer video is likely to have a lower engagement rate than a snackable video.
Source: 2022 State of Video Report
Videos about products generated the most engagement, followed by webinars and social media videos. Blogs and sales videos ranked last. These days, telling an inspiring story about your product, meeting people where they are, entertaining them, and sharing your values go a long way.
Source: 2022 State of Video Report
Growth
Although full-screen CTAs remain Wistia’s most popular growth tool, they have noticed an uptick in videos using annotation links. It appears that companies are using video to nurture customers down the funnel in a less intrusive manner.
Source: 2022 State of Video Report
In 2021, Turnstile forms were more frequently placed in the middle of videos rather than at the beginning of videos. People are allowing viewers to preview content before gating it with a form.
Source: 2022 State of Video Report
It makes sense to place Turnstile forms mid-video! In both 2019 and 2020, this tactic yielded the best conversion rates. The most effective placement for Turnstiles for 2021 was at the beginning and end of videos, which saw a significant increase in conversion rates.
Source: 2022 State of Video Report
The topline copy of the form continues to convert well when “email” is used in the CTA. There is a 23% conversion rate when the term “email” is used, whereas there is a 14% conversion rate without it.
Source: 2022 State of Video Report
In a nutshell
With so much great content out there, capturing people’s attention is key, and the right video strategy can help. As a result, video can have a significant impact on your business growth. Don’t forget that, and leverage your brand today.
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