State of the Marketing Budget 2023
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Video culture is more dynamic today than it has ever been. The 2023 YouTube Culture and Trends Report recently highlighted three trends that are redefining the way content is created and consumed. Based on surveys conducted across 14 countries, the report explores the rise of fan-creators, the use of multi-format video and the impact of AI. Observing these trends will help you better understand the high engagement levels and growing demand associated with video content.
The Rise of Fan-Creators
Gen Z is blurring the lines between audience and creator. An impressive 41% of this demographic claim they are video content creators. Brands, too, aren’t mere bystanders in this shift, reposting fan-generated content and reaping the rewards.
54% of viewers now prefer a creator’s perspective on significant events, such as the Oscars, rather than watching the live event. This can be attributed to emerging technological tools on platforms like TikTok (notably the Duet feature) and the recent additions to YouTube Shorts, including Collab. Such tools empower users to add their commentary into videos that were originally created by celebrities and prominent brands.
Multi-Format Creation
The modern viewer seeks accessibility and ease. They want to access content which is:
- Diverse (news, entertainment, education)
- Distributed in a range of different video formats
- Delivered straight to their feed
- All on one platform.
Brazilian channel @CazéTV, posts YouTube content in the form of Videos, Shorts, and Lives. With 9 million followers, he managed to secure broadcast rights to livestream the FIFA World Cup in 2022. By giving soccer fans the opportunity to watch the matches for free, @CazéTV broke conventional viewership records with over 6 million concurrent views. YouTube suggests that multi-format video creation can result in greater brand recall and awareness.
Embracing New Audiences with AI
With 2.3 billion active users, language can be a barrier for brands with a global audience. This gap between creator and viewer is being bridged by AI. 54% of viewers follow creators who share content in a language other than their own. Singers on YouTube, such as @Midnatt, use AI to refine their pronunciation and share songs in various languages. Rather than relying on closed captions, viewers can choose what language they hear the creator’s voice in. This allows content to be consumed by a previously unreachable audience.
Read the full report here.