Our friends at BuzzFeed published an in-depth report on the industry’s trends in social, mobile, and video. You can find the full report here, and below we’ve recapped the most important insights to take away, share with colleagues, and understand for your business.
Millennials are the driving force behind social. They rely on social sites for both news and entertainment, and are more likely than any other generation to share both types of content to their friends and networks. Not only is social the #1 source of referral traffic to content on the web, but 71% of Millennials visit social sites daily.
Mobile has taken the lead as the primary platform for social and sharing, and usage continues to rise. For U.S. adults, 60% of time spent on social is on mobile, and adults spend roughly 2 hours and 51 minutes each day on mobile. For 18-34 year olds, the amount of time on mobile jumps to 5 hours and 12 minutes daily. Despite the smaller screen, mobile is the primary platform for digital video consumption. 72% of smartphone users watch videos on their device, and U.S. adults spend 50% more time watching digital video on mobile than on desktop.
Among millennials, there are now more users of online video than TV, and mobile video is cutting into TV’s engagement level (60 million TV users 18-34 years old; and 67 million digital video users 18-34 years old). U.S. adults are also shifting to digital content, and now spend 29% more time on digital than TV. By 2018, smartphones will overtake non-smartphones, skyrocketing to 3.5 billion consumer devices worldwide. In four years, online video will be the most highly penetrated residential service globally, with a projected 1.9 billion users. It will outpace digital cable, time-delayed TV, video on demand, online music, online gaming, and social networking.