Monetizing Short Videos: Strategies for Success in the Expanding Platforms Market

The global short video platforms market size was valued at USD 1.52 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.2% during the forecast period. The increased global internet penetration, increased production of videos and online content, and the proliferation of smartphones are some of the main factors anticipated to propel the growth of the market. For instance, in November 2022, Jio Platforms, an Indian Multinational Technology company, partnered with Creative Android Asia, a creative services company, and Rolling Stone’s Indian edition launched a new app called Platform. Platform app aims to target celebrity entertainers with an ecosystem designed for organic growth and consistent monetization and empowers creators to advance through ranks and reputation.

Short video platforms have given companies a new option to distribute internet video adverts. The quality of commercials is the major component that draws customers to short video platforms.Advertisers want to leverage the power of short videos, combining it with the growing popularity of influencer marketing, to deliver their product and messaging effectively, which is a major factor driving the rise of short-video platforms.Shortvideo platforms in India, such as Dailyhunt’s Josh, Times Internet’s MX TakaTak, and ShareChat’s Moj, are enticing companies to advertise on their platforms over the holiday season since they have achieved sufficient scale in terms of audience reach.

Healthcare video production is an excellent method for delivering educational content since it is both cost-effective and visually audibly conveys information. Healthcare video also ensures that each patient receives consistent clinical details in an easy-to-understand manner. For instance, MedPower LLC is a U.S.-based platform that provides training to doctors, nurses, and other medical personnel through short videos. The medical explanation video employs a combination of character animation and the analogy of the MedPower equipment. The video displays difficult training materials being fed into the machine and then spits them out in shorter video courses provided by MedPower.

The increasing penetration of wireless networks and easy internet access in developing countries are driving more people to short video platforms. Many users have easy access to high-quality short video content because of the widespread adoption of 4G and 5G networks, which is expected to significantly increase video content consumption on short video platforms. Ericcson’s Mobility Report, published in June 2021 stated that 22% of users of smartphones in India already own 5G-ready handsets. Moreover, the company also predicted that 5G adoption will be much faster than that of the 4G/LTE spectrum.

Detailed Segmentation:

Type Insights

The video post segment dominated the industry in 2022 and accounted for the maximum share of 59.1% of the overall revenue. Video post promotes stronger engagement with targeted audiences and is easier to consume and recall.

Deployment Insights

The application-based segment dominated the market with the revenue share of more than 75.7% in 2022. The application-based segment includes Instagram Reel, Tiktok, Beat.ly, Vimeo, and others. The availability of wireless broadband technology and the emergence of 4G/5G mobile networks are expected to drive the segment growth.

Platform Insights

The IOS segment dominated the market with a revenue share of 42.6% in 2022. The global increase in smartphone adoption is a primary factor driving the expansion of this segment. Consumer data is at risk when using the short video app, but IOS is designed in such a way that no one can obtain it without the user's permission. Moreover, the iPhone's memory is encrypted, making it impossible to hack the device and read confidential data.

End-use Insights

The media and entertainment segment led the industry with the revenue share of 47.4% in 2022.The surge in live streaming events and growing consumer base, and advancements in mobile technology are predicted to play a significant role in the development of the media and entertainment segment. The essential aspects of the entertainment market include electronic, exhibition, live, mass media, and musical.

Regional Insights

North America dominated the industry in 2022 with the revenue share of 37.6%. The region’s growth is projected to continue shortly with the advent of superior 5G network technology, which will make short video platforms much faster and more agile.

Key Players of Short Video Platforms Market