More than 8 in 10 marketing, sales and customer experience executives say that video is becoming more important as a form of content in their organization, according to a recent report. But how engaging are viewers finding business videos? The latest report [download page] from Vidyard looks at video completion rates for business-related videos, as well as other video benchmarks.
The average length of business-related videos on Vidyard’s platform continues to rise, from 4 minutes in 2019 to just over 6 minutes in 2020 and almost 10 minutes (9:58) last year. That said, the majority (56%) of videos produced for business purposes (such as to support sales, marketing and communication efforts) are 2 minutes or less, with 34% being up to one minute long and another 22% being 1-2 minutes long.
Vidyard reports that with the rise of virtual events and webinars, videos over 20 minutes long are seeing sustained increases. After the number of these videos rose by 66% year-over-year in 2020, 2021 saw them jump to 18% of all videos created (from just 6% in 2020).
Encouragingly, despite the increase in longer videos, completion rates actually rose last year. The average completion rate across all videos analyzed last year was 54%, up from 45% the year prior.
Vidyard’s analysts note that engagement peaks at the first 10% of the video, no matter its length, and then steadily decreases from there. Completion rates were highest for videos of 1 minute or less (62%), with completion rates also averaging over 50% for videos of 1-2 minutes (56%) and 2-10 minutes (55%) in length. The completion rate for videos of 20 minutes and longer was a more modest 26%, but even that was a small climb (+2% points) from the previous year.
Other Business Video Benchmarks
Beyond length and completion rates, the study offers other benchmarks for business-related videos on Vidyard’s platform in 2021. Some of those results follow.
- Business-related video creation almost tripled (+178%) over 2020 on Vidyard’s platform, with 80% of those videos being user-generated (up from 60% in 2020).
- The number of videos published by businesses varied markedly. However, the most prolific industries included High Tech (average of 882 videos per business) and Media, Entertainment and Publishing (797), while Not-for-Profit businesses produced the fewest (109).
- Each of the three sectors publishing the most traditionally produced videos last year – Retail, High Tech and Financial Services – created fewer such videos last year than the year before.
- Companies with more than 5,000 employees published an average of 1,151 videos in 2021 (down 14% from 2020), while those with 601-5,000 employees published the most videos (1,552), about triple (+196%) their output from 2020. Smaller companies (600 or fewer) created substantially fewer videos: those with 0-30 employees published an average of 297 videos.
- Small companies (200 or fewer employees) used internal resources for the majority (58%) of their videos, while large companies (more than 600 employees) used either external resources (21%) or a mix of internal and external (37%) resources for the majority of their videos.
Download the full report here.
About the Data: The information for this report was collected from anonymized video creation data from a sample of Vidyard customers, representing 1.3 million videos. The data encompasses the time period of January 1, 2021 to December 31, 2021.