20th May 2024

Video Marketing Statistics 2024

Video Marketing Statistics 2024

The use of online video in communications and marketing strategies has evolved and grown year on year. Today 88% (Wyzowl) of people say that they would like to see more video content from the companies and institutions they interact with, driving awareness, education and engagement. Our Video Marketing Statistics 2024 gives a brief insight into the current trends and viewer behaviours.

At Cambridge Filmworks we use our expertise and insights to help clients to build and grow online video campaigns with genuine impact.

From animations, promotional films, explainer videos, social media content and event films right through to documentaries and remote webinar productions, video has become an essential part of all communication strategies.

This guide provides some of the most pivotal Video Marketing Statistics, highlighting the transformative impact and powerful potential of online video.

Why do businesses consider video essential?

91% of businesses use video as a marketing tool – maintaining an all-time high since data tracking started this 2016 (Wyzowl)

94% of video marketers consider video an essential part of their marketing strategy, and 99% plan to continue using video in the future​ (Rev)​

96% of People Turn to Videos to learn more about a product or service (Independent check)

Does video marketing boost ROI and traffic?

88% of marketers reported that video marketing gives them a positive ROI. 86% say it has increased traffic to their website​ (SocialPilot)​​

The video marketing industry is projected to reach $92.253 billion in 2024. 95% of marketers plan to maintain or increase their video marketing budgets​ (SocialPilot)​

69% of consumers prefer to learn about a product or service by watching a short video. 84% say that watching a video has convinced them to purchase a product​ (Rev)​

82% of total web traffic is driven by video streaming (cisco)

Do videos reach more people?

Videos reach 92% of all internet users globally, and social media videos are viewed 48% more than other types of content​ (Rev)​​

Incorporating videos on landing pages can boost conversion rates by up to 80%. Companies using video marketing grow their revenue 49% faster than those that don’t​ (Wyzowl)

On YouTube, over 1 billion hours of video are watched daily. 70% of these videos are consumed on mobile devices​ (SocialPilot)​

90% of marketers use YouTube for video marketing, followed by 84% on Facebook and 77% on Instagram​ (Rev)​​

What kind of videos perform best?

88% of marketeers say that explainer videos or animations have helped improve customer understanding and awareness of their products and services (Wyzowl)

Short-form videos continue to be effective, with 96% of marketers finding success with videos under 10 minutes, and 39% considering 30-60 seconds to be the optimal video length​ (Rev)​​

The rise of video as a marketing tool seems inexorable.

Nearly nine out of ten people report wanting to see more videos from brands, companies and institutions making video an excellent tool for lead generation and brand awareness. 

With people spending more time at home – working remotely – the demand (and consumption) of video has accelerated.

Video looks set to continue its ten-year success story into the coming decade. These stats paint a picture of a media type that’s almost universally popular among both marketers and their audiences, helping achieve a number of incredibly important goals.

Sources: Wyzowl Rev SocialPilot Independent check

Cambridge Filmworks

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