Where do you watch videos? Is your answer YouTube? If so, you are in good company. However, it might surprise you to discover that YouTube, the popular video-sharing website that garnered a whopping 1.3 billion monthly active users worldwide in 2014, is currently facing some tough competition! Not surprisingly, the competition is coming from the world’s largest online social network.
That’s right, Facebook is hot on the heels of the Google-owned giant. According to a recent survey and market research by Ampere Analysis, Facebook will deliver two-thirds as many video views as YouTube in 2015. The study surveyed 10,000 consumers in Europe and North America and found that 15 percent of them watched videos on Facebook in the past month and out of those who watch video on Facebook, more than 16 percent have not watched anything on YouTube in the past month. This makes sense in a lot of ways because consumers are already on Facebook and they can simply watch videos there without ever leaving. Think about it, what was the last funny video you watched on Facebook?
Facebook’s 1.4 billion monthly active users is comparable to the YouTube user base in 2014, but the social networking site’s continually-growing audience has a significant ability to take viewers away from YouTube and make it a likely alternative outlet for video viewing.
Viewers aren’t the only ones taking Facebook more seriously. Content owners favor the site due to its new revenue-sharing program that allows them to earn ad revenue from videos watched. Due to high-profile partnerships with entities like the NFL, Fox News and Funny or Die, content owners are likely to produce more videos, providing viewers with a richer viewing experience while creating unique, valuable opportunities for advertisers.
As an online community of users who constantly share ideas, information, pictures and interests, Facebook has the capability to bring the best of social media together on one platform. Even YouTube videos are shared via the site.
Naturally, there are pros and cons to each medium. YouTube offers advertisers pre-roll ads, while Facebook’s video ads appear after the content. And although Ampere found that advertising rates were comparable, Facebook charges advertisers for a video view if three seconds of the ad are shown, less than its counterpart requires. In Facebook’s favor, it has the capability of reaching people more easily via mobile and to turn those mobile users into revenue. Additionally, Facebook users are required to log in to use any of its services, so data retrieved from them can be used to target specific demographics.
Whether your prefer Facebook or YouTube for watching videos, one thing is for certain, consumers love videos and watch a lot of them. If your business would like to incorporate video into its marketing program, and wants some tips on how to best integrate it, give mRELEVANCE a call.
If you want to stay on the cutting edge of technology and social media, let mRELEVANCE help. For more information about how mRELEVANCE can help you share your stories and reach your target audience, visit us at www.MarketingRELEVANCE.com or call at 770-383-3360.