Businesses Still Aren’t Prioritizing Video, Despite Consumer Preferences

Marketers and consumers alike seem to be aligned in their preference for video content, according to a study released this week by video library management company Levels Beyond. 

The study, which surveyed more than 1,000 U.S. consumers and more than 500 marketers, found that 59% of consumers are likely to watch branded video on a company website. Similarly, 71% of marketers agree that brands should be video content producers. However, 75% of marketers say that producing video is not a priority for their company, with 40% claiming their brand rarely uses video.

Conversely, video seems to hold the key to consumers’ attention, especially millennials. According to the study, 51% of millennials prefer watching video to reading text with the same information. Forty percent of consumers in older age groups opt for video instead of text, and 42% of all consumers say they like when companies share video content online. Nearly two thirds of consumers (61%) sat that when their friends share branded video, they’re more likely to watch the content. Yet, 47% of marketers do not plan to increase their video production this year.

“Video is becoming a medium of choice for a new generation of consumers, and while brands recognize the change and its impact, they haven’t evolved their marketing strategies to reach video audiences,” Levels Beyond’s CEO Art Raymond said in a statement.

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