The Science of Social Video, a survey of 5,500 consumers in the UK, France, Germany, US and Australia, by online video solutions provider Brightcove, found that consumers were spending an average of six hours a week watching video content on social media networks alone.
Two-thirds (67%) said that this amount had increased in the last twelve months – one fifth said considerably so – and three fifths expected it would continue rising over the next year.
And in every country considered there was a high proportion of consumers – more than seven in ten – interacting with brands on social platforms.
Half of all consumers said they read brand posts on their newsfeeds, while 43% watched brand videos.
Germany (31%) showed the least interest in branded video, while Australia and the UK (both 47%) were most interested. But there was widespread agreement that video was the easiest way to get to know a brand online.
More importantly, 74% of consumers pointed to a connection between watching a video on social media and their purchasing decision-making process: nearly half (46%) said they had actually made a purchase as a result of watching a branded video on social media, while another third (32%) had considered doing so.
Those in the US (53%) were most likely to link a purchase to viewing a brand on social video, while those in France (39%) were least likely to do so.
The survey also highlighted generational differences, with 26-34 year olds most likely to connect watching a social video and their purchase decision making process, at 84%, compared to the average of 74%. But only one in three (30%) over the age of 55 had made a purchase on this basis.
The youngest age group, 18-25 year olds, were more likely to trust video from influencers and vloggers (49% more likely to trust) than from brands (40%) or publishers (44%).
Social video is one of six key marketing trends explored in depth in Warc's Toolkit 2017. Readers can download the free-to-access report to learn more.
Data sourced from Brightcove; additional content by Warc staff