Is Video Production a Dying Industry?
People have always been mesmerised by moving pictures. In fact, Cisco predicted in a recent study that by 2021, 82% of internet traffic will be made up of video content. What isn’t there to love about videos and films? Videos stimulate both our visual and auditory senses, which creates a longer lasting memory. Unlike texts or pictures that require further interpretation, videos can give you an entire explanation in a few seconds, if you do it right.
Nevertheless, as the number of videos appearing on our screens seem to multiply exponentially, a conflicting trend can be seen in the video production industry. While the value and frequency of video content increases, the value behind the team who shoots and edits the video is falling exponentially.
Video Production: Past and Present
When we talk about video production during the good old days, we mean fancy equipment, big budgets, big effects, and maximum creativity. Today, video production is more about achieving measurable business outcomes which usually means keeping production costs to a minimum. At the same time, budget saved on video production is allocated to sales and marketing strategies going on behind the video to boost business results.
The industry is experiencing a shift
Thanks to the evolution of technology, this is more possible than ever. According to Social Media Today, the number of videos posted per Facebook user in 2015 increased by a whopping 75%. Overall, Facebook churns out an average of 8 billion video views per day. Thus, it is evident that anyone with an iPhone or at least a working camera can shoot any video content these days. There is also an abundance of savvy tools available to create stupefying content.
Moving forward, the key to successful and meaningful video production is specialization. To succeed in the industry, brands are in search of value. Because after all, with so many resources at our fingertips, brands are seeing opportunities in relying on in-house production.
To provide value in video content production, you need an abundance of creative thinking to product content that stands out of the crowd. At the same time, to succeed as a video producer requires an understanding of each individual brand’s business and the content that will leave a positive, meaningful mark on their viewers.
The content must also be strategically distributed with an understanding of the different platforms, and the impact that each one brings to the particular brand. Why? Because when customers watch the right video at the right time, it leaves a positive connotation which in the long run translates to customer loyalty and sales.
Video production is not dying. But the industry as a whole is shifting. Less focus is on the equipment, as it’s more about the value of the content produced. It is no longer just about creating pretty visuals. Everything that goes on before, during, and after the video production process adds up to build meaningful, lasting moments between brands and their audiences. This is what brands are looking for.
