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Global Number of Digital Video Viewers Is Projected to Reach 3.5 Billion by 2023
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Global Number of Digital Video Viewers Is Projected to Reach 3.5 Billion by 2023

Nellius Mukuhi
Nellius Mukuhi
January 31st, 2023
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  • Digital video viewership is increasing year over year.
  • Businesses must be aware of the ever-changing digital media landscape and update their strategies.

As the world increasingly shifts to a more digital landscape, so does consumer behavior. By the year 2023, the number of global digital video viewers is projected to reach 3.5 billion, according to BanklessTimes.com. This is due to several factors, including the widespread adoption of digital video streaming services and increased internet penetration worldwide.

The availability of digital videos and their convenience have unlocked new opportunities for businesses. Creating quality video content is achievable even with limited resources and budget. Companies can easily create marketing campaigns that build trust, increase engagement, and drive conversions.

According to BanklessTimes CEO Jonathan Merry,

The rise in digital video viewership presents a unique opportunity for businesses to reach a wider audience and engage with new customers. This can be done through marketing strategies such as creating optimized videos for mobile viewing, increasing their presence across different social media platforms, or leveraging artificial intelligence (AI) to understand user behavior and preferences. In addition to creating engaging content, businesses should focus on optimizing their online presence for better search engine optimization (SEO). This will help potential customers discover your videos more easily and increase the chances of reaching a wider audience.
BanklessTimes CEO, Jonathan Merry

Increasing Brand Awareness

This projected growth in digital video viewers means businesses must begin understanding the significance of investing in marketing strategies that leverage this trend. Companies can create optimized videos for mobile viewing, increase their presence across social media platforms, and leverage AI to focus on SEO to increase brand awareness. Businesses can reach a wider consumer audience and make the most of this rapidly growing trend.

Benefits of This Trend

Businesses should embrace this trend and make their presence felt in the ever-growing digital media landscape. There are several benefits to leveraging this trend:

  • Engage with customers – Digital videos allow businesses to create content that resonates with their target audiences. This helps them build relationships and loyalty with potential customers, increasing their chances for success.

  • Reach a wider audience – By creating quality video content, businesses can reach a larger and more diverse customer base. This is especially useful for small or niche businesses that are trying to expand their reach.

  • Leverage AI technology – Businesses can use AI-driven tools to better understand user behaviour and preferences. This will help them create more targeted campaigns and improve their chances of success.

  • Increase conversions – Quality video content can engage with potential customers, increasing their likelihood of purchasing.

Factors Leading to Growing Digital Video Viewers

It is essential to note the importance of investing in video marketing strategies tailored to the changing environment. Video content is quickly becoming the dominant form of communication, and businesses must be aware of this trend if they want to remain relevant.

The growth in digital video viewership is due to several factors, including the widespread adoption of digital video streaming services, increased internet penetration worldwide, and easier access to high-quality devices such as smartphones and tablets. Additionally, digital video's convenience has unlocked new opportunities for businesses to reach a wider audience.

The popularity of streaming services such as Netflix, Hulu, and Amazon Prime Video has also contributed to the increase in digital video viewers.

Ultimately, businesses need to understand the advantages of leveraging digital video viewership for increased success. Now is the time to take advantage of the ever-growing demand for digital media and capitalize on this emerging trend.

Contributors

Nellius Mukuhi
Writer
Nellius is a cryptocurrency investor and journalist who has been in the nascent space since 2018. She is a seasoned writer who loves to travel and focuses on delivering relevant, valuable content for audiences.