Video, Video, Video.

“If I was having a bet, it’d be video, video, video”. That, according to Facebook vice president Nicola Mendelsohn, is the future direction of the company, and perhaps a representation of social media as a whole. Over the past year Facebook claims that the number of video posts per person has increased 75% globally. However, you didn’t need my measly statistic to tell you that…like myself, you may regularly drool over the latest BuzzFeed videos (probably involving a lot of melted cheese or Nutella in some form).

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You may also have noticed the recent ‘Facebook Live’ feature, which allows live streaming from your mobile to the social world. This push into the realm of live broadcasting opens endless opportunities for brands, and is being experimented with by businesses and celebrities alike. According to the Wall Street Journal, Facebook is paying around $50 million worth of contacts to 140 personalities, including Dwayne ‘The Rock’ Johnson, who ‘went live’ from the red carpet. You may ask, why pay so much money to have celebrates crap on about their day-to-day lives? The answer is advertising. With many social networks already reaching maturity, business models are focusing on $$$. The more viewers on a social platform, the more that platform can charge advertisers for space on their channel. On a more local scale, Australian property publisher ‘Domain’ went live from an auction on Saturday, which is an example of where video is being used to generate brand awareness and involvement with the audience.

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Facebook surprisingly is not dominating the live streaming market, with YouTube attracting huge audiences through live sport, including 1.8 million when streaming a European soccer match in May.  Micro-blogging service ‘Twitter’ is also adapting rather than dying, announcing their intention to focus on video, and not surprisingly, going ‘live’. So is this Goodbye to text and hello to video for good? As consumers of digital media we are easily entertained, but just as easily bored. What is brilliant one day is ancient the next, so what comes after live video?

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4 thoughts on “Video, Video, Video.

  1. Hey Matt,
    Great post!
    I have noticed a constant steam of live news and information particularly from the celebrity world. For example the SnapChat feature where you can add to a global snap chat stories. Recently it was Beyonce’s birthday meaning anyone, from all over the world can add to that story. This theory of having Beyonce’s birthday feature on snap chat makes complete sense when you mention that it increases SnapChat’s value and allows them to charge advertisers more for space on their channel.
    Working in the real estate industry myself, I am familiar with the Domain Live video app and understand the excitement and hype. Not only is it highly a powerful tool for connectivity but it also differentiates Domain from realestate.com and has already created increased awareness of the Domain brand. People in the industry are excited about it’s future and the business it can bring.
    I don’t believe it’s the end of text…not for a while anyway. Some people are still reading physical books…so they have a long way to go! But I do see that video’s will and are becoming a more prevalent part of our society probably because we’re getting lazier and lazier so we can’t even be bothered to read anymore and need things spoken to us in an entertaining manner.
    What comes after live video…I’ve heard rumours that Samsung are introducing a 3D Hologram phone… the sky is the limit!

    Like

  2. Hey Matt,
    Great post!
    I have noticed a constant steam of live news and information particularly from the celebrity world. For example the SnapChat feature where you can add to a global snap chat stories. Recently it was Beyonce’s birthday meaning anyone, from all over the world can add to that story. This theory of having Beyonce’s birthday feature on snap chat makes complete sense when you say that it increases SnapChat’s value and allows them to change advertisers more for space on their channel.
    Working in the real estate industry myself, I am familiar with the Domain Live video app and understand the excitement and hype revolved about around it. Not only is it highly a powerful tool for connectivity but it also differentiates Domain from realestate.com and has already created increased awareness of the Domain brand. People in the industry are excited about it’s future and the business it can bring.
    I don’t believe it’s the end of text…not for a while anyway. Some people are still reading physical books…so they have a long way to go! But I do see that video’s will and are becoming a more prominent part of our daily lives, probably because we’re getting lazier and lazier so we can’t even be bothered to read anymore and need things spoken to us in an entertaining manner.
    What comes after live video…I’ve heard rumours that Samsung are introducing a 3D Hologram phone… the sky is the limit!

    Like

    1. Thanks Katie!
      That’s a really interesting point you raise about Domain differentiating themselves from competitors and increasing awareness. For example, I don’t follow Domain on Facebook, but through my friends following and liking their content it came to be in my news feed. There is so much ‘clutter’ in social media streams that a strong point of different can really separate one brand from another. I hope you’re right about video not meaning an end to text, it would be a shame to see us completely consumed by electronics and further distancing ourselves from traditional forms of communication. However, in the industry of news for example, it seems as though stories are broken so quickly through social media (in particular short clips from news stations) that by the time anything goes to print, we’ve probably seen/heard about it already. A 3D hologram phone would be something! I assume that wouldn’t require us to pick up a phone? (one more way for us to be lazy I suppose).

      Like

  3. Now that you mention content appearing in your newsfeed that is relevant to your demographic I have been experiencing the same thing. It’s only when you really pay attention to the ads popping up that you start to question why it’s there and how they knew to target us. I think you’re right, it’s got to have something to do with what our friends or followers are interested in, have liked or commented on.
    It would be a shame to see the end of text but honestly, I don’t see that happening – people will always love to read even if it’s from a Kindle and not a physical book.
    You are very accurate in saying we already know the latest news before 9 o’clock because it’s blurted at us through even media platform. For example; I wake up in the morning, check my phone (Facebook shows news that it believes I would be interested in, snapchat stories show ‘hot gossip’ news), Sunrise might be on in the background as I eat breakfast with the headlines flashing before me, then I get in the car and the news is on every channel before I’ve even picked up a newspaper. However, I know my dad still likes to have the newspaper in front of him every morning as he has breakfast, but honestly I dislike reading the newspaper it’s too cumbersome.
    Not sure of the details of the hologram – crazy stuff!!!

    Thanks! 🙂

    Like

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