According to an AOL study, 58% of consumers watch videos on their laptop/desktop every day, making mobile an equivalent medium.
“With 89% of US and 77% of global consumers saying they can’t live without their smartphone or always have it within arm’s reach, we are very close to the tipping point where mobile will soon be the number one video screen,” AOL noted.
The study further found that while consumers are watching more and more digital video each year, the consumption of short-form video is rising at an even higher pace. A full 42% of consumers watch videos five minutes or less every day. As videos get longer, that number decreases.
With live video, an average of 65% of consumers watch live video on their smartphones. Southeast Asia saw the highest result, with 76% of consumers watching live video on their smartphones.
Meanwhile, the industry is set to keep pace with consumer demands, continuing to increase spend in mobile video. Around the world, both advertisers and publishers are increasing spend on mobile.
A full 47% of advertisers and 57% of publishers expect to increase mobile ad spend by at least 25% in 2017. Advertisers are funding this increase in mobile video by shifting more and more money away from TV budgets. And mobile video spend is catching up to desktop video. In fact, when AOL looked at TV budgets shifting to digital video, it found that 63% is going to mobile video and 70% is going to desktop video.
When it comes to virtual reality, 360° and live video, the rate at which consumers are adopting immersive video formats varies around the world. For example, 31% of US consumers and 21% of Southeast Asia consumers expect to watch more videos in VR in the next 12 months. But only 9% of Canadian and UK consumers feel the same.