The social network announced yesterday (7 Jan) that its video platform is growing and the amount of video produced by brands in its News Feed also goes up by 3.6x year-on-year.
In December, the social network turned heads when it showed that it had reached more views on its platform with the John Lewis Christmas ad campaign than Youtube.
It has been getting healthy reviews from brands for its video performance over the past year. In September (2014) comparethemarket.com said its first campaign used on Facebook’s video platform showed a lift in brand metrics.
Facebook’s platform could prove to be a strong competitor for Youtube, which has so far been the dominant online video site drawing in huge investment by advertisers. It has set a trend for social networks looking to create their own mark on market. Twitter has suggested that it would work on creating its own video platform in the coming year.
Global digital agency, Metia, has released statistics showing that 75% of smartphone owners watch videos on their phones 2-3 times a day.
By 2017, Metia predicts that online video will make up nearly 70% of consumer internet traffic. With such predictions it is no wonder that social platforms have embarked on a journey to reap the benefits of video success.
Facebook launched its premium video platform in March last year (2014).