Video Marketing Statistics 2024
In the ever-evolving world of digital marketing, 2024 stands as a monumental testament to the unprecedented power of online video. A medium that has proven itself not only resilient, but increasingly essential in shaping consumer behaviour.
In this article, we’re collating some of the most important video marketing statistics that underscore the transformative impact and compelling potential of online video.
In 2024, 88% of people would like to see more video content from brands – not less (Wyzowl, 2023.) If you’re a marketer or advertiser seeking to capture imaginations, foster engagement, and drive conversion, these insights may help ignite your strategy and propel your campaigns to new heights in a world where video is king. If you’re a business, then it’s time to start thinking about a robust corporate video strategy.
One | Video Consumption
- Online video accounts for 82% of all internet traffic (Cisco, 2023)
- Mobile video consumption is on the rise too, with a growth rate of 100% year on year (Hootsuite, 2023)
- TikTok’s meteoric rise continues to have a significant impact on short-form video content popularity. The platform has over 1.5 billion active users worldwide, with users spending an average of 52 minutes per day on the platform (TikTok, 2023) Read more on our blog, Six Video Marketing Trends in 2023.
- Yet, YouTube remains the most widely-used platform by marketers; 90% of video marketers to be specific.
Two | Engagement Metrics
- On social platforms, videos receive 1200% more shares than text and images combined (BuzzSumo, 2023)
- Embedding videos in landing pages can increase conversion rates by up to 80% (Unbounce, 2023)
- Emails with video content can increase click-through rates (CTRs) by 300% (Campaign Monitor, 2023)
- However, the average viewer retention rate for videos, across the board, is 54% (Vidyard, 2023)
- Globally, Instagram video is the most engaging type of content, bringing in an average of 24.25 comments and 1097.9 likes per post. (HubSpot, 2023)
This is UEA (Lambda Films)
Achieved an 87% engagement rate on YouTube
Three | ROI and Consumer Behavior
- In 2023, 91% of businesses are using videos to market their product (Wyzowl, 2023)
- 96% of marketing professionals use video as a marketing tool (Wyzowl, 2023), with 92% of them claiming they get a positive ROI from video marketing (HubSpot, 2023). This is the highest set of figures in the last five years.
- 90% of customers state that video helps them make purchasing decisions (Forbes, 2023)
- 64% of consumers are more likely to buy a product online after watching a video about it (ComScore, 2023)
- Retailers that use video in their e-commerce listings see an increase of 30% in conversion rates (Adobe, 2023)
- You are 53x more likely to rank on the first page of Google if you have videos on your website. (MonsterInsights, 2023)
- 69% of businesses acquired more leads with video content, while 54% boosted sales. (SerpWatch, 2023)
Four | Production
- 62% of all online videos are short-form; defined as under 3-minutes (HubSpot, 2023)
- Online video for business & marketing takes a few forms; 42% mostly use live-action videos, 33% primarily use animated videos and 16% mainly use screen recorded videos. (Wyzowl, 2023)
- The most common types of business videos are brand videos, live videos, and product demos (Vidyard, 2023)
In 2024, the narrative is unmistakable: video content is not a mere accessory in the digital marketing toolbox—it is a driving force. It has become a language that brands must speak fluently if they are to effectively engage, connect, and convert in an increasingly visual and fast-paced digital landscape.
However, beyond these video marketing statistics and trends, the power of online video lies in its innate ability to humanize brands, forge emotional connections, and tell captivating stories. As marketers and advertisers, our mission should not be merely to ride this wave but to steer its course.