Latest online video stats show continued domination of short-form content
The first quarter of 2013 saw a generous increase in overall video videos, logging a 30% jump according to Freewheel’s latest Video Monetization Report.
The state of online video is healthy: alongside this rise in total views, monetization opportunities are multiplying.
Digital “Pure Play” companies, which focus on creating digital-first short-form content both for their own branded sites and broad syndication, are driving much of this growth.
The report points to successes like Netflix’s House of Cards, where Digital Pure-Play companies have been able to secure A-list talent and widepsread buzz for their content.
Linear+Digital companies, which offer a more traditional mix of short, mid and long-form content, saw a smaller increase in views but were able to monetize more of the content with ads.
For travel brands focused on short-form content as drivers of awareness and conversion, the good news lies in the type of content used to promote their brands:
Short-form video views dominated, comprising 87% and 86% of total video views for Linear+ Digital and Digital Pure-Play, respectively.
Short-form content, while not offering multiple interruption points to place advertising, does offer a significant branded opportunity – especially with Digital Pure-Plays that benefit from extensive syndicated networks.
By partnering with a DPP, travel brands have the means to distribute content widely beyond their own limited networks.
Long-form content offers the most opportunities to place ads, with the Linear+Digital channel showing steady growth and the Digital Pure Plays offering significant opportunities to increase monetizable inventory.
In addition, as travel brands have begun to understand the value of tablets for engaging “lean-back” experiences, video content is surging in popularity on these devices. Apple products are also posting gains, as much video content is consumed on these devices.
The opportunity here is mammoth: PhocusWright projects nearly $8 billion in mobile bookings this year.
By focusing on users who area also consuming video on their mobile devices and tablets, brands can send traffic to their own branded apps. As these bookings convert more (via both user familiarity with booking on mobile and UX flow improvements by brands on mobile), the value of in-video ads will increase exponentially.
Even if a travel brand shies away from owned and branded content, a thorough understanding of what length of content provides the most compelling opportunities to advertise their products is essential to an effective, ROI-driven video ad strategy in a growing mobile-first reality.
Nick Vivion is a writer and strategist. He was a Tnooz reporter and global events lead between August 2012 and July 2015. He was the launch co-founder of Booty's, a global street food restaurant in New Orleans and was recently AVP Operations, North America, at Zomato.