Video Content Explodes in the Midst of the Pandemic
In these uncertain times, there’s been one thing you can count on - people are as hungry as ever for human connection. The onset of the current pandemic has seen an unprecedented explosion in the creation and consumption of video content. It makes perfect sense, all over the world people are confined to their homes. Social distancing measures have dictated that people must stay physically away from each other, but it hasn’t dampened peoples desire to connect to others. It’s estimated that people are currently spending 12 hours a day on social media platforms, a massive 50% of their entire day. Interestingly, audio content has seen as decline in recent weeks. This could be chalked up to listening habits - people usually listen to audio content when commuting or at the gym - two regularities that have have become obsolete for many. This has contributed to global streams within Spotify’s Top 200 chart from Friday, March 13th to Thursday 19th, to reduce to 226m plays – an 11.0% decrease week-on-week.
Video content has moved into this space at an alarming speed. In reaction, the obvious streaming services like Netflix and YouTube have had to decrease the quality of their content to offset the sheer volume of streaming, helping to ease the pressure on internet providers. For many, Netflix and their contemporaries have become a type of security blanket to those self isolating. It’s hard to pull any positives out of the situation we find ourselves in, but for some industries, business is booming. No doubt Disney+ are benefitting from their timely March 24th launch recently, with a captive audience of millions anticipating the latest streaming service arrival.
In the realm of social media, the rise of TikTok has been an unstoppable freight train. They have seen an 18% week-on-week uplift in US downloads since week commencing March 16th. This has translated directly to spend, with TikTok’s gross US revenue from the same week up 34% from the previous week to $1.1 million. This wasn’t just a US trend though - global downloads for TikTok were past 85 million, where revenue was also up 10%, past $45 m for the same time period. So what does this mean for content? The need for social interaction has never been greater and people are looking for quality content that entertains, informs and distracts for a time.
TikTok dance challenges are nothing new for the app but the level of creativity involved in the execution of these videos has noticeably taken it up a notch, with everyone form celebrities to elderly parents getting involved. One such video that has captured the world’s attention is the “Ghen Co Vy”, or “Jealous Coronavirus” by Vietnamese singers Min and Erik. The song urges watchers to wash their hands, avoid touching their faces, keep away from crowds and to send the virus away, proving that meaningful content can be fun, interactive and beneficial to watchers. So is this the future of content? It certainly seems that video content is an a state of transition. It’s needed more than ever and creators are rising to the challenge, producing more material and to a better standard than we’ve ever consumed. And in the evolution of video content everyone from brands, creators, social media apps and viewers benefit.