How This Year’s Events & Technology Initiated A Golden Era Of Video
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Zohar Dayan is the CEO and Co-Founder of Wibbitz, the automated video creation company.
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It’s becoming difficult to remember what life was like before the unprecedented events of 2020. Our memories are fogged by social distancing mandates, a historic national election season and a redefining of what a “day at the office” means. We’ve all experienced fundamental changes to the way we conduct business, interact with loved ones and even go to the grocery store.
It hasn’t been easy, but through all of the weirdness and strife, there has been an exciting shimmer of hope. The pervasive presence of video in daily life has brought us together in a time of incredible disconnect. It’s not by coincidence that 2020 has ushered in a new “golden era” of video. Instead, I believe it’s the culmination of years of technological development and a slow embrace of a more video-centric world. Perhaps we just got here a little quicker than we would have without the events of 2020.
The ‘pivot to video’ already happened.
Several years ago, the phrase “pivot to video” entered the lexicon of the media industry. Publishers scrambled to revise strategy and structure to stay on top. Quick to adapt, they embraced new technologies to create at scale.
For businesses, I’ve observed that the shift has been more measured. In the early days, many believed the only way to consistently produce video was with expansive teams and even bigger budgets. They assumed they didn’t have the resources to create enough video to participate in the “pivot.” As a result, creating consistent videos seemed an unfathomable feat.
Over the last few years, more businesses have discovered the same tools that helped media brands in the early days. Many businesses, in almost every vertical, have established workflows and tech stacks that facilitate video creation at scale. In 2020, the forced shift to a more digital world was eased by years of progress. It marks the apex of the “pivot” and the dawn of a new “golden era” for video content.
Circumstances and technology beget change.
The challenges of 2020 have impacted everyone differently, but it has meant a shift to remote work for most. Work from home means more time at home, and that means more screen usage.
In fact, there was a 60% uptick in connected TV during the day and 50% of millennials and Gen-Zers claimed they couldn’t live without video in their lives. Developments in broadband and more content availability helped satiate the incredible new hunger for video. Every day, there are new shows, films and even streaming services available to consumers. Early numbers revealed that users consumed on average a half hour more video each day than in 2019. Platforms like Disney+, Peacock and HBO Max have launched and are powering this increased consumption of video.
Furthermore, mandates for social distancing played a significant role in the video consumption boom of 2020. With fewer nightlife options and a concerted effort to stave off the spread of Covid-19, users turned to their devices to fill more of their time. But streaming was just the beginning. Quality time moved from the sofa of your best friend’s living room to FaceTime, Zoom and Google Hangouts. Video conferencing technology allowed users to stay connected in a disconnected world.
Technology isn’t just impacting how users consume video; it is changing how creators create. Only five years ago, during the initial “pivot to video,” creating content at the pace needed to meet the demands of 2020 would have seemed ridiculous. It was still a new concept and many believed that only top-tier firms could produce consistently. Today, technologies have emerged to democratize the production of video content. Creators can automate the process from creation to distribution to monetization. Brands aren’t limited by their tools (or lack thereof). Instead, technologies are making it easier to go from concept to finished piece in minutes.
The new ‘golden era of video’ is inclusive.
There’s no denying that 2020 has brought enormous changes to everyday life. However, large-scale video consumption was already a part of the “old normal.” While donning a mask to pick up your dinner is undoubtedly new, streaming video on your device while you wait is not. The huge demand for video was already here — now, there’s just more of it.
Because of this new growth and even bigger projections for the future, as I discuss further here, it’s not just a “nice to have” in your business’s toolkit. It’s a must-have. But unlike 2015, brands are better set up for success in 2021 and beyond. Instead of an exclusionary event, I believe the new “golden era of video” is inclusive. Businesses of any size, industry or budget can create great video content for their audience.
How can brands make the pivot?
If your brand is new to video, start small. You don’t need to become a digital media sensation overnight. Consistency and quality should be your number one priority.
Second, don’t be afraid to fail. After all, most videos don’t get millions of views and viral engagement. Instead, focus on telling the best story you can and connect with your audience in an authentic way.
Lastly, embrace it. The world is just beginning to uncover the possibilities of digital video. While the consumption levels seen in 2020 may not sustain in the coming year, audiences are now more accustomed to viewing more videos than ever before. Experiment with creative ways to bring your voice and message to the medium.
So, for those of you who are already creating consistent video content for your viewers, keep doing what you’re doing. For those of you who have been reticent, it’s time to make the shift. Don’t worry, though — technology is here to help.
Through these difficult times, we’ve discovered the truth about video; it has the power of connecting two sides of an argument, two sides of a relationship and two sides of the world. It can connect buyers to brands and create customer experiences we could never have imagined just a few years ago.
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