It’s the big trend of the year – mobile video. Now, AOL Advertising has released some interesting findings which guide advertisers and publishers in making the most of the latest trend in mobile.
According to the research, mobile is fast becoming the number one video screen in the UK. Smartphones have rivaled desktops as screen of choice for quite some time now and this has affected video consumption. An average 57% of consumers worldwide view videos on their mobile devices every day, compared to 58% watching it on desktops or laptops.
Mobile phones have become an intrinsic part of our lives. In the UK, 71% of consumers admitted that they couldn’t live without their smartphone. Over half (54%) said they watch more online videos now than a year ago and 52% are viewing these videos on their smartphones – daily.
However, certain formats have fared better than others. Given shrinking consumer attention span, it’s no wonder that short-form online video continues to grow. In the UK, 32% of consumers view videos that are five minutes or less every day.
Just 17% of consumers said they watched videos that were up to 20 minutes long on a daily basis, compared to a 21% global average.
Live video has become another strong avenue for mobile with 66% of audiences globally consuming live video content. In addition, 38% of UK consumers are also tuning into 360-degree content on their smartphones. Virtual reality content is also slowly creeping up with 29% of mobile users consuming such content.
However, the UK still ranks slightly behind other nations such as the US (31%) or Southeast Asia (21%) which are predicted to consume more VR videos over the coming 12 months than the UK (9%).
In line with growing consumer demand, mobile spend is also on the rise. Almost half of UK advertisers (46%) are to increase their mobile ad spend by around 25%. 61% of publishers also predict client investment in mobile video to jump by 25%. The average global rate is 57%.
When it comes to the future of mobile, advertisers are mostly excited about audience targeting (42%) followed by short-length videos (38%) and TV to mobile retargeting (37%). This means that marketers are likely to shift budgets further away from TV and toward digital and mobile channels (61%).
However, a few challenges remain in mobile. Platform and servicing costs are still a major hurdle for many marketers (34%) but even more so for publishers (66%).
Ad blockers continue to be a reason of concern for 34% of advertisers. A majority of publishers (61%) also finds the quality of the consumer experience an issue.
Advertisers and technology innovators are working fast to overcome issues such as long loading times, however, for 40% of advertisers load times are still a major reason to spend less on mobile video. 38% said they created lighter ads to overcome this problem. 91% of publishers are exploring possible solutions or have implemented some to overcome audience experience shortcomings.