Facebook statistic: 50% of the time spent on the App is in watching videos
Video is huge on Facebook
The major social media companies released their quarterly results on July 29. If these reports have shown us anything, it’s that video is huge and getting bigger:
Videos account for the content consumed in half of the time an average user spends within the platform. Said Mark Zuckerberg.
At the same time they are the “biggest contributor to engagement growth” on Instagram.
The comments come at a time when the company has posted one of its strongest growth in years, with revenue of more than $29 billion, up 56% from last year. The company also reported that it had surpassed 3.5 billion “monthly active people.”
This should force companies to rethink their animated content and videos if they still want to promote themselves in this way. Taking advantage of this format would be beneficial to any brand, especially when it is so versatile and works for almost any product or service. Specially when you can replicate or post the same content in other similar platforms like Instagram or Tiktok, where video is the king too.