CAMBRIDGE, Mass.--(BUSINESS WIRE)--Wistia, the video platform of choice for business, today released its inaugural State of Video for Business report, detailing the ongoing rise of video for business as the medium helps people make meaningful, memorable connections with teammates, customers, and prospects. The report studies the 6.7 million videos created and uploaded so far in 2017 by over 300,000 companies. As business videos bring a human touch back to online business and materially impact the bottom line, this report reveals growing production and demand, best practices, consumption trends, and more.
For this report, Wistia examined videos uploaded and engaged with throughout the third quarter of 2017 in the context of 2017 as a whole. In Q3, 2.4 million individual videos were uploaded through Wistia and were played over 371.1 million times. Between Q1 and Q3 2017, the total minutes of video uploaded increased by 17.9 percent (from 18.1M to 21.4M), and as the total minutes of video uploaded increased, the demand for video content grew with it. Wistia customers experienced a year-over-year increase in video plays from Q3 2016 to Q3 2017 of 10.2 percent.
Findings in this initial State of Video for Business report reveal businesses are incorporating more video into their engagement strategies as the medium helps companies showcase the real people behind products and brands, boosts email click-through rates, helps sales representatives close deals, and ensures support teams explain tough concepts in personable ways. Other interesting results include:
- The majority of business video plays occur during the week, with an average weekday in Q3 seeing over 25 million minutes of video consumed. This data suggests that people typically watch business videos while they’re at work, with data revealing engagement peaks earlier in the week.
- 52 percent of the videos uploaded in Q3 fell below three minutes in length, implying that short, digestible content is preferred by businesses.
- Over five million emails were captured across nearly 90,000 videos, representing a 27 percent year-over-year increase in in-video email captures since the launch of Turnstile, Wistia’s pre-roll email collector. Additionally, Wistia saw nearly a 12 percent year-over-year increase in new business sign ups in Q3 2017 compared to those in Q3 2016, which is a leading indicator of the interest in deploying video for business.
“As video continues to rise as a dominant medium for businesses, it’s essential to understand the volume of consumption and how it’s triggering ongoing interest from customers,” said Chris Savage, CEO and Co-Founder, Wistia. “In 2017, we’ve seen significant growth in videos uploaded and played across our platform, so we feel it’s important to highlight these increases and reiterate the impact of business video when it’s used to communicate both internally and externally. We plan to continue tracking and measuring this surge in video creation, use, and engagement, and expect to see these figures evolve as businesses continue to scale their use of video for effective communication.”
To view the full report from Wistia, State of Video for Business, please visit: https://wistia.com/state-of-video
Wistia is the video platform of choice for businesses both small and large. Through simple, intuitive and powerful products spanning from free and premium video hosting solutions, to video creation and editing tools like Soapbox, Wistia reduces the barriers to better business communications for teams including marketing, sales, support, HR, and more. With Wistia, everyone, regardless of their experience-level, can create, host, manage, distribute, and analyze great-looking video that fuels stronger, more human connections.
Founded in 2006 in Cambridge, Massachusetts, more than 300,000 businesses across 50 countries depend on Wistia to power more creative and authentic communications, including: HubSpot, MailChimp, Sephora, Starbucks, and Tiffany & Co. Learn more at wistia.com and follow us on Facebook and Twitter @wistia.