People have really short attention spans these days, so it’s no surprise that short video and social media content is reigning supreme. What’s more, it’s not exactly shocking that consumers are falling in love with Snapchat stories.
More than 33 percent of daily Snapchat users make stories that stay live for 24 hours. Users are now watching 10 BILLION videos per day on the app, which is up a whopping 2 billion from February alone. Naturally, the company is shoving this data in investors’ faces to explain that the app also serves content creators and not just consumers.
Video is a major focal point in today’s social media landscape. Facebook made their streaming service, Live Video, a priority and have been prompting people to create and share their video. What’s more, they’re offering to pay content creators.
On Snapchat, “conversations are not only including a photo or video, but are being started by them,” said Robert Peck, an analyst at SunTrust Robinson Humphrey. “People’s behavior is changing so that photos are being used as speech instead of a repository for memories.”
While Facebook and Twitter don’t release statistics regarding what percentage of users broadcast per day on Live Video or Periscope respectively, they do focus on views and time spent on the apps. The average Facebook user spends 50 minutes per day on their apps, excluding WhatsApp, and the social media giant found that video creation and consumption has tripled since last year.
All that does is feed into the mantra that video is king in this day and age, which is something that Snapchat is surely aware of as their 100 million + daily users spend an average of 25-30 minutes per day sending pictures and video.