It seems that Facebook is trying to muscle in on YouTube territory.
By MediaStreet Staff Writers
Facebook is indirectly becoming a solid source of user-generated content, often replacing time otherwise spent viewing similar videos on YouTube.
A new report from the UXS group at Strategy Analytics has been investigating the needs, behaviours and expectations of consumers regarding video consumption. The result? While consumers look to Facebook to see what friends/family are up to and to gain information overall, videos are being increasingly consumed as a part of this experience.
According to the report:
- Social platforms are becoming the main source of consumption of ad-hoc short-form video. Sites such as Facebook and Instagram are increasingly sources to communicate new content availability; while sites such as Snapchat, IG stories and Boomerang are leading the drive towards social video creation and sharing.
- Socially shared and discovered ‘viral’ content not only serves as entertainment on its own but can impact an unintended direction for users and their video consumption.
- Ongoing live video streaming and posting of temporary ‘stories’ across Facebook and Instagram are also driving users to return.
Says Christopher Dodge, report author, “Content is ‘finding’ the user within social media: consumers no longer have to search for videos themselves. Furthermore, new ‘live’ video, along with countless shared video content, is shifting behaviours and resulting in more unintended video consumption.”
Chris Schreiner, Director of Syndicated Research, UXIP, agrees. “Identifying Facebook as a solid source for video – inclusive of professional, user-generated, and ‘viral’-type videos – not only makes Facebook’s experience even more compelling for users, but also drives advertisement revenues for this platform.”
There’s plenty of ways to use facebook video to advertise products.
But will they take YouTube’s thunder? Perhaps this is wishful thinking at this point. But, stranger things have happened. We will stay tuned.