Is Video Production in Demand?
There has never been a better time to be a talented video creator. Not only are videos being produced for consumption on video-sharing websites, such as YouTube and TikTok, but they are also frequently used in marketing efforts for companies of all sizes. Creators with fundamental video production skills will find a market full of opportunities. This industry, however, is not without its unique challenges. Understanding this landscape is a key to success in the video production field.
Demand is Up, Budgets are Staying Stagnant
The demand for video production has been steeply increasing, rising as much as 200 to 300% by some estimates. However, the budgets to meet those needs are simply not keeping up.
A product-centric video can increase landing page conversions by 80%, and companies are catching on. Video can also contribute to sales directly. Studies show that 88% of users who watched a brand video about a product or service were convinced to purchase it later.
Video production teams have to be more efficient to keep up with demand as well as get the most out of their clients’ budgets.
Commercial Video Production is Everywhere
Mobile Internet traffic is through the roof, which has helped fuel the demand for video production even more. Did you know that the share of all Internet traffic generated via a mobile device was less than 1% in 2009? As of 2021, that total is now 54.4%. The number of mobile users has increased virtually every year, and many expect that it will continue to climb for years to come.
There is no question that mobile websites need a significant amount of video to help keep them interesting, relatable, and convincing. Thus, the demand for commercial video is anticipated to grow over the coming years.
Video is the Preferred Medium
The preferred way to reach customers these days is via video. Consumers respond well to videos that highlight products and services. Viewing more compelling videos encourages more frequent and larger purchases. Companies that fail to capitalize on this are generally selling themselves short.
The Industry is Growing
If you are thinking about getting into the video production industry, rejoice! According to the Bureau of Labor Statistics, the industry is predicted to grow by 29% between 2020 and 2030. This is significantly above the average for all industries and presents a very good reason to consider getting involved with this field. You may discover that it is the right one for you and your business to invest in.
Conclusion
There are many things to be excited about in the video production industry. If you are looking for a shining example of a company that is getting things right, check out the Once Films production team.
Our team has been together for over a decade, using in-house staff and equipment to produce truly outstanding videos for our clients. Our work is highly effective for those customers, and we continue to win recognition from the industry for the incredible stories we tell.