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State of Short Form Video 2024

State of Short Form Video 2024

(View the live report here)

In 2024, video marketing is no longer optional

If you’re a business looking to stand out this year, you simply have to use videos in order to promote your business. For several years, the weight of social and ad content has steadily shifted towards video, with both seasoned and emerging platforms pushing towards video feeds.

  1. 85% of viewers prefer videos that are 15 seconds or less, highlighting the growing demand for short, engaging content. (Source)
  2. Short-form videos have been found to receive 2.5 times more engagement than long-form videos. (Source)
  3. It's evident that short-form video ad revenue is on a significant rise, with predictions that it will exceed $10 billion. (Source)

Trends in Business Use of Online Media and Video: (Source)

  1. User-Generated Content influences purchase decisions significantly.
  2. Simplified Production often using smartphones and basic equipment
  3. Subtitles and Captioning to improve accessibility and engagement

Impact of Video Marketing on Business Growth: (Source)

  1. Increasing ROI: Marketers are more optimistic about the return on investment from videos
  2. Video-First Approach: Businesses are increasingly adopting a video-first approach in their marketing campaigns
  3. Storytelling and Brand Recognition: Emotional storytelling in videos plays a significant role in brand recognition and loyalty.
  4. Optimizing for Multiple Platforms: To reach wider audiences, brands are optimizing their video content for different platforms.
  5. Video SEO: Optimizing videos for search engines is crucial for visibility and ranking.

Challenges in Video Marketing: (Source)

  1. Time Constraints: Pre-production activities like ideation and scripting being particularly time-consuming.
  2. Effective Strategy Development: Video marketing that aligns with target audience, budget, and distribution channels is challenging for many.
  3. Video Creation Process: Producing, filming, and editing videos is complex, often requiring investment in equipment and software.

We at Munch have analyzed and helped edit millions of video hours for over 500K content professionals worldwide. 

Here’s our insights on the current state of short form video marketing.

Content Insights

In the dynamic landscape of video marketing, Munch's latest report reveals pivotal trends shaping short-form video content in 2023:

  • Content Velocity: Successful clips published by our users are pacing at an impressive 150 words per minute. Don’t be afraid to get wordy!
  • Collaborative Approach: The majority of these clips feature 2-3 speakers, fostering a diverse range of perspectives and discourse.
  • Optimal Length: The sweet spot for a clip's duration is 40 seconds, blending viewer engagement with concise messaging.

Media Insights

How long is “long form”? The answer - it varies greatly based on the type of video.
  • The median length of a video project is 11 minutes long
  • Longer video projects are rhetorical speaking content - webinars, lectures - and multi speaker scenarios - Dialog, interview.
  • Niche and single-speaker material tend to be shorter than 15 minutes
  • This means easier setup and shorter production time for small businesses, who can kick things off with “short long form” videos of 5-10 minutes long.

User Demographics

It’s becoming clear who is producing short form video content and what they’re using it for. While Munch’s customer base grew by 20% QoQ, almost all of that growth can be attributed to businesses looking to scale their video marketing efforts.

  • Business Domination: A significant 64% are businesses employing content to market their own products and services, overshadowing content creators for whom content is the product.
  • Growth Insights:
  • Business user growth: An astounding +49% QoQ.
  • Content creators: A decrease of -16% QoQ.

Emerging Industries

The landscape of industries leveraging short-form video marketing is rapidly evolving:

  • E-Commerce & Digital Products: Leading the charge with a 4x growth in e-commerce and 3x in digital products.
  • Diverse Industry Adoption: Wellness, media, music production, and religious institutions  doubled their presence, indicating a broadening appeal of short-form video.

Industry Breakdown:

Distribution Platforms

The choice of platforms varies between businesses and creators:

Main takeaway - Instagram and YouTube remain the primary choices for both businesses and creators. TikTok’s absence from the top three business platforms suggests significant challenges in adopting the platform for original content and its relatively lower perceived value in the realm of small business marketing.

User Profile

Understanding the business users of short form videos:

  • Small Businesses (1-10 employees): Dominate with 70%
  • Medium-Sized Businesses: Represent 22%, employing up to 100 staff.
  • Large Enterprises: A small yet significant 8%, including universities and financial institutions.

Content Trends by Industry

Different industries gravitate towards specific content types:

  1. Explainer videos are popular among sports coaches, marketing agencies, and legal firms (24%).
  2. Monolog videos are preferred by wellness coaches and financial experts (23%).
  3. Interview formats are favored by media and financial institutions (20%).
  4. Lectures are common in religious institutions and coaching (10%).
  5. Conversational videos, including podcasts, are produced by media and fitness experts (9%).
  6. Webinars are a staple for SaaS and educational sectors (8%).

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