In its second-largest acquisition, Amazon buys the company for $970 million.
U.S. consumers also watch for the longest time; Europeans the least.
U.S. consumers account for more than half (52%) of all online video views of content generated by brands and e-retailers. Americans also view the videos for the longest average time, just less than a minute and a half. European consumers, who account for 38% of all brand and e-commerce video views, watch them for the least amount of time, averaging just 30 seconds, according to an online video and media usage study from online video platform vendor Brightcove Inc. and TubeMogul, a web analytics and ad platform provider.
The Online Video & Media Industry Quarterly Research Report also includes results of a survey of 300 U.S. and European brand managers, of whom 85% say they feature video as part of the marketing mix on their brand sites. Among respondents who feature video, 66% say their primary purpose for using it is to build branding and awareness. 21% cite generating direct response and lead generation; and 12% say they aim to drive e-commerce and sales.
The survey also reveals that 21% of brand and e-commerce marketers include video in their mobile strategy; of those not using video in mobile, 70% say they plan to add it in the next 12 months.
Brand and e-commerce marketers extend the reach of their videos by posting them on YouTube (80%) and on Facebook (90%) in addition to their own sites. “When you can get people to watch your video off your site and get the awareness cycle going, that’s a really interesting thing,” says Jeff Whatcott, senior vice president of marketing at Brightcove.
Still, he says, retailers and brands are being conservative about letting their videos live off-site beyond YouTube and Facebook where they have less control of what happens to them, such as by distributing videos to bloggers.
The data show that only 2.6% of all views occur where video is embedded through third-party sites, away from sites the e-retailer or brand controls. However, consumers view such off-site embedded videos an average of 40 seconds longer than on-site videos.
“We found that when people do watch video off in the social sphere, they are watching more and are more engaged. If you love your content, let it go,” he says.