While there have been many unprecedented circumstances that have unfolded in 2020, it has not all been negative. Global pandemics aside, there have actually been some interesting societal changes that could lead to positive growth and developments in the future.
Government officials and concerned friends and family are urging continued self-isolation at home to protect the health and function of our hospitals and people, and there has never been a better time to do so. Our access to information through the use of the Internet has allowed most job functions, income streams, and relationships to continue and sometimes even thrive in a physically isolated society. On top of that, these relationships and business opportunities have leaned more than ever on the use of video, whether it’s digital animation, social media marketing, or corporate video productions, people need to get their message across now more than ever.
Fortunately, as people rely on staying home and using screens and technology, video is the perfect medium to communicate directly with consumers. Even Mark Zuckerberg, CEO of Facebook, believes video is a critical part of our future as he increasingly shifts his platform to video stories and video ads. According to Wyzowl in its annual State of Video Marketing Survey for 2020, 92% of marketers say that video is an important part of their marketing strategy. This is an increase from 78% in 2015. This growth has a lot to do with the 88% of marketers who say that video marketing gives them a positive ROI, or return on investment. That statistic has grown from just 33% in 2015, meaning both marketers and consumers are transitioning to video consumption to learn about the market and communicate with consumers.
Jonathan Barnard, head of forecasting at Zenith, spoke about his thoughts on this trend: “Online video consumption is growing rapidly, and the average person will spend half as much time watching online video as they will watching conventional television this year. This supply of rapidly expanding audiences is driving rapid growth in demand from advertisers, making online video the fastest growing digital channel by ad spend.”
This is great news for us and our clients as the opportunities for well-produced video continue to grow. There have been limited opportunities to produce live video content locally at our home base in Richmond, Virginia due to distancing requirements, however, our clients continue to demand online animation and marketing collateral. We have been able to find creative solutions to produce what our clients need, and that includes character animation, 3D modeling and rendering, remote interviews, and video editing from existing footage. From our perspective, the need for a strong message communicated through moving images and audio has not diminished, it is becoming the new standard in digital advertising.