Creating video content can be a time-consuming process that demands significant resources in terms of creative, budget, and promotion. Video marketers need the right data at their fingertips to ensure they are creating the right content, on the right platform, for the right audience.
Last week, the legendary Mary Meeker, venture capitalist at Kleiner Perkins Caufield & Byers and former Wall Street securities analyst at Morgan Stanley, presented her 2015 Internet Trends Report at the Code Conference in Rancho Palos Verdes. We take a look at 12 of the most important points in the presentation, along with three key reasons why video marketers should take note.
Video Marketers: Who Is Your Target Audience?
Firstly, Meeker shared several key internet trends about the audience for online video. For example, there were 35 million internet users in 1995, or 0.6% of the global population. And 61% were in the USA.
Today, there are 2.8 billion internet users, or 39% of the global population. And 28% of today’s internet users are in Asia (excluding China), 23% are in China, 19% are in Europe, 10% are in the USA, and 21% are in the rest of the world.
Although China is the biggest Internet market, Meeker said that India, which is the third largest market with 232 million internet users, was the top country in new Internet user additions. In fact, India added 63 million new users last year. This now makes India one of the top two markets in terms of monthly active users (MAUs) for several global Internet leaders.
There are 112 million MAUs for Facebook, making India that platforms second largest market. There are also 70 million YouTube users in India. Plus, India is Twitter’s fastest growing user market.
12-24 year olds remain the trendsetters for digital content consumption. They love visual stuff, which explains why their use of Instagram, Snapchat, and Pinterest is up year over year, while their usage of Facebook, Twitter, Google+, Tumblr, and LinkedIn is down.
And 44% of Millennials (age 15-35) use their smartphone’s camera/video function at least once a day, another 22% use it every other day, and another 21% use it at least once a week. And 76% are posting their pictures/videos to social media.
What Type of Video Content is Being Watched?
Secondly, Meeker provided several insights into the types of content that this audience watches. For example, 51% of the total time spent with digital media per adult user per day is on mobile devices, 42% is on desktop/laptop devices, and 7% is on other connected devices.
This explains why “vertical viewing” on the small screen has become such a big deal. And it begins to explain why full-screen vertical video ads on Snapchat have a 9 times higher completion rate than horizontal mobile video ads.
Meeker also said content is increasingly user-generated, curated, and surprising. For example, user-generated video from millions of creators is curated by Snapchat in Live Stories, which is growing rapidly.
And user-generated live gaming/streaming grew 122% year over year to 100 million monthly active users on Twitch. She said, “Imagine that…users generating their content are recreating their internet.”
How Do You Make Money with These Insights?
Thirdly, Meeker talked about advertising and monetization. For example, she remains optimistic about mobile ad spending growth. But she said print remained way over-indexed relative to the time spent consuming media. This means creators who are monetizing their content may get farther faster by targeting existing newspaper and magazine ad budgets than trying to take more money out of TV and radio budgets.
She also said ad formats should be optimized for mobile. And among the new things that vendors, brands, and consumers should be excited about are the Pinterest Cinematic Pin, Facebook Carousel Ad, the Vessel 5-second ad, and the Google local inventory ad.
She thought vendors, brands, and consumers should also be excited about buy buttons – optimized for mobile – to minimize the friction to purchase at the moment of interest. This includes the ones on Facebook, Twitter, and Google.
To make better content and distribution decisions in this changing and segmented landscape, video marketers need data, insights, and intelligence. Meeker quoted Billy Bosworth, DataStax CEO, who said, “Ten years from now, when we look back at how this era of Big Data evolved…we will be stunned at how uninformed we used to be when we made decisions.”
But Wait, There’s More!
Meeker also presented half a dozen slides about drone growth. And there are another four slides about drones at the end of her presentation in a section entitled, “Ran outta time thoughts.”
Ironically, GoPro CEO Nick Woodman also spoke at the Code Conference. He introduced the Six-Camera Spherical Array. He also revealed the company is working on a quadcopter — or drone, as they’re more commonly known. He declined to share any details about its design and pricing, but it’s slated to launch in the first half of 2016 and will be aimed at consumers.
Woodman also validated Meeker’s reputation, which was characterized in 2006 by Fortune magazine as “absolutely first rate when it comes to spotting big-picture trends before they come into focus”. That’s why video marketers should take a look at Meeker’s slides – all 196 of them. And if I were you, I’d hurry. Her “2015 Internet Trends Report” has already been viewed more than 1.2 million times on SlideShare – and it was just posted last week.