Whether it's TikTok's impressive growth or the preference of Instagram users for Reels over Threads, it's evident that video has become the medium of choice for audiences. Over the years, attention spans have gotten shorter, and visual content has become more dominant in the digital landscape.

Due to this, video marketing has emerged as a widely used strategy by businesses. Before marketers can focus all their budget and energy on this side, they need to understand the type, length, format, channel, and other factors that affect the performance of video content.

To assist with this, we have compiled a list of the top video marketing statistics 2024. You can use this data to make informed decisions about your video marketing campaigns on your website and all major social media platforms.

What Is Video Marketing?

With improvements in the cyber world, the popularity and use of online video have multiplied in recent years. Any online video made with the sole purpose of promoting a brand, product, or service falls under the category of video marketing.

For businesses, video marketing is now a prime way to engage with their target audience. From short-form videos on social media to longer informative clips, webinars, and video ads, video marketing has taken many forms. For example, Canva has created a YouTube video to introduce its Magic Studio and highlight its AI feature.

Some common types of marketing videos include testimonials, product demos, social media videos, explainers, how-to videos, and event highlights.

General Video Marketing Statistics

Before going into specific video marketing statistics, we'll discuss some general ones. These numbers will give you an overall idea of the impact, reach, value, and projected growth of video marketing in the upcoming years.

1. By the end of 2024, the online video ad spend is projected to reach $120 billion globally. In comparison, video ad spending in the US will reach $12.6 billion. (Statista)
2. 78% of marketers report YouTube as the most effective channel for video marketing, compared to 71% of marketers who say Facebook is the most effective channel. Nearly 64% of marketers deem Instagram as the most effective platform for video marketing. (Statista)
3. In 2028, $193.4 billion of the total video advertising spending will be through mobile, indicating that mobile video advertising will dominate the digital landscape. (Statista)
4. According to a Wistia survey, 93% of businesses say that video is an important part of their marketing strategy. Also, 91% of businesses use video marketing. (Wistia)
5. In 2024, 78% of video marketers plan to make more videos. (Wistia)
6. On average, businesses spend $34.5 per internet use in video advertising. (Statista)
7. 38% of marketers report that their primary goal with video marketing is to boost sales and leads. On the other hand, 31% of marketers use video marketing to educate customers, and 17% use it for brand awareness and PR. (Wistia)

8. 57% of businesses will increase their video marketing resources in 2024, while 38% plan to use the same resources as they did earlier. Only 4% of video marketers will reduce their resources for this marketing channel. (Wistia)
9. Short-form videos are projected to be the most popular video format, growing at an annual growth rate of 10% from 2024 to 2028, reaching a value of $145.8 billion by the end of this period. (Statista)
10. Wyzowl reports that 68% of marketers who were not using video marketing before plan to start using it in 2024. (Wyzowl)
11. About 20% of marketers do not use video marketing due to its high cost. (Wyzowl) 

Video Preference and Consumption Statistics

Marketers should also know video marketing statistics around the preferred channels and types of video consumption. The knowledge will assist you in creating the right type of video for the right platform.

12. On average, people watch 17 hours of video every week worldwide. (Statista)
13. In the US, adults spend 3 hours and 50 minutes watching digital videos daily. (eMarketer)
14. Over 92% of video consumers say that they would watch any type of video. Among all video types, music videos enjoy the highest preference, with comedy and meme videos in tow. (Statista)
15. YouTube is the second most popular video consumption platform after over-the-top streaming platforms, as 241.8 million people watch videos on it in the US. (eMarketer) 

16. 28.5% of people also watch video live streams, while 25.7% like watching product review videos. (Statista)
17. About 24% of people like watching influencer videos and vlogs, making a strong case for influencer marketing. (Statista)

Social Media Video Marketing Statistics

Since most people watch videos on social media platforms, it's no surprise that social media video marketing is so ubiquitous in organizational marketing strategies.

Among social media platforms, Instagram, YouTube, and TikTok are the most video-oriented ones. However, marketers also use LinkedIn, X, and Facebook for the job.

The following social media video marketing statistics provide insight into the growing trend of using video on social media for marketing purposes.

18. TikTok is forecasted to account for 30% of social media video ad revenue share by 2027. (Statista)
19. The average engagement rate for a social media video under 60 seconds is 43%. (Wistia)
20. Wistia reports that 35% of marketers plan to use social media videos in their video marketing strategy. (Wistia)
21. US adults spend 26 hours on YouTube and 45 hours and 37 minutes on TikTok every month. (Statista)
22. 34% of marketers create social media videos for their marketing campaigns. (Wyzowl)

23. 8% of marketers create videos with the purpose of getting social media engagement and followers. (Wistia)
24. According to Hootsuite, the best time to post on Facebook is Tuesday at 7am, while the best time for Instagram is Wednesday at 11am. (Hootsuite)

25. The best time to post on TikTok is Thursday at 7pm. (Hootsuite)
26. 14% of businesses host live streams on social media. (Wistia)
27. The average length of video posted by businesses on Facebook is 10 to 15 seconds. On LinkedIn, the average length is 30 to 60 seconds, while on Instagram, it is 5 to 10 seconds. (Wistia)
28. Businesses post longer videos on YouTube of 15 to 20 minutes on average. (Wistia)

B2B Video Marketing Statistics

B2C businesses aren't the only ones leveraging the potential of video marketing. B2B marketers are in the game, too. Although the platforms and types of videos may differ, the impact remains significant.

Here are some B2B video marketing statistics to prove this.

29. Testimonials are the most popular type of videos for B2B marketers, as 39% of them use these videos. (Statista)
30. 44% of B2B marketers say that customer testimonials impact purchasing decisions positively. (Lemonlight)
31. Video is the second-most popular content type for B2B marketers after short articles and posts. 84% of B2B marketers use videos in their strategies, an increase from 75% in 2023. (Content Marketing Institute)

32. 53% of B2B marketers say that videos are the most effective content type, making videos just as important as case studies and customer stories. (Content Marketing Institute)
33. 69% of marketers say that they will increase investment in video in 2024 above all other marketing areas, such as thought leadership content, in-person events, paid advertising, and audio content. (Content Marketing Institute)
34. 5% of B2B marketers use generative AI tools to create videos. (Content Marketing Institute)
35. 28% of B2B marketers say that they use return on ad spend (ROAS) as a metric to determine the success of a video marketing campaign. (Lemonlight)
36. 30% of B2B marketers use LinkedIn as their main platform for sharing videos. (Lemonlight) 

Real Estate Video Marketing Statistics

The trend toward virtual tours and video listings has made video marketing an important part of the real estate industry, too. Realtors do not only have to create videos to show properties but also themselves and their services.

Here are some real estate video marketing statistics marketers in this industry should know.

37. 41% of real estate buyers start their home-buying process through an online search, while 95% of buyers use an online tool. (NAR)
38. 47% of real estate companies report that social media provides the highest number of leads compared to other channels. (NAR)
39. 90% of Baby Boomers and 99% of millennials start their search for a property online. (NAR)
40. 26% of realtors use YouTube to market their listings and reach their target audience. (NAR)
41. 40% of realtors report that they find video conferences provided by their brokerage to be useful. (NAR)
42. 46% of real estate agents say that video conference is the most impactful technology they use in their business. (NAR)
43. Real estate videos with videos get over 400% more inquiries than those without videos. (Seattle Web Research)

Video Marketing ROI Statistics

If you spend money on video marketing, you obviously want it to give you a decent return on investment (ROI), too. Besides the return from video ads, marketers can also measure the impact of video on their lead generation and conversion rates. Here are some video marketing statistics related to the ROI of this channel.

44. According to 39% of the marketers, videos ranging from 30 to 60 seconds have the best ROI. In second place are videos 1 to 2 minutes in length, which are reported to be effective by 28% of marketers. (Wyzowl)
45. 27% of companies spend anywhere from $1,000 to $5,000 on video content creation monthly, while 25% spend under $999 per month. (Vidico)

46. 90% of marketers say video marketing has a good ROI. (Wyzowl)
47. In 2024, small and mid-sized businesses have seen a 13% increase in video plays, while large businesses have reported a 5% increase. (Wistia)
48. 60% of marketers use video engagement to measure the success of their video campaigns, while 40% use video views. (Wyzowl)

49. Brand awareness is a massive benefit of video marketing, as 90% see it as an outcome of this tactic. (Wyzowl)
50. The education industry has the highest rate of video plays at 46%, with the media industry at 44%, the tech industry at 22%, and marketing at 18%. (Wistia)
51. Video marketing has helped 87% of marketers generate leads. (Wyzowl)

Generative AI Video Marketing Statistics

Like other professionals, marketers have also turned to AI for different use cases, including video generation. There's a variety of tools that can not only generate videos but also add voice overs, write scripts, create avatars, change backgrounds, and more. The following AI video marketing statistics provide more details.

52. 75% of marketers use AI to create and/or edit videos. (Wyzowl)
53. 44% of marketers use generative AI to create images and videos. (HubSpot)
54. 50% of marketers report using AI for writing video scripts and outlines. (Wistia)
55. In a Vidico report, 46% of marketers said that AI will complement human video marketing expertise. However, 12% believe that AI won't bring much change. (Vidico)

56. In a HubSpot survey, 49% of marketers said that AI improves content personalization, while 50% said that it improves content quality. (HubSpot)
57. 59% of companies use AI to auto-generate captions and transcripts for videos. (Wistia)
58. 35% of businesses use AI to generate music and visuals for videos. (Wistia)

Conclusion

Now that you know all these video content marketing statistics, you should have a better idea about how businesses use video, how much it costs, where to post videos, and what kind of videos you should create. Take video marketing statistics as benchmarks for your own strategy, but experiment and find out what works best for your business.

Moving forward, you may also want to give AI a try for video creation and editing. Start with free trials for tools that intrigue you and then evaluate their effectiveness. If you need more information about video marketing, check out our other articles on video marketing trends and tips.