Social video creation platform Wochit's Q3 Social Performance Index report found that, on average, publishers who increased their video production found a three-fold increase in video views. But is it really as simple as producing more videos? Probably not.
The report reveals a "strong connection" between the number of videos posted each day and the number of followers for that particular page. In Q3, for example, 8 of the top 10 most followed publishers posted at least five videos per day. USA Today was the top producer, averaging 26 per day, followed by NBC News at 19 per day.
The report also shows signs that media companies are looking to Facebook video to drive revenue. In Q3, for example, there was a significant increase in the number of videos over 90 seconds, which is the minimum duration required for Facebook mid-roll. This increase supports the findings of a previous Wochit survey, in which two-thirds of publishers reported intent to monetize video with mid-roll. The 90-second videos, while still in the minority, also drove significantly higher levels of engagement.
Other interesting findings from the report, which compares results from videos posted in June through August 2017 (Q3) against March to May 2017 (Q2), include engagement is increasingly demonstrated through "Reactions" (Love, Haha, Wow, Sad, and Angry) over "Likes", that square videos outperform horizontal ones (by 7.2x the shares), and that Latin American audiences remain the most engaged worldwide
"While we've seen quantity of video increase every quarter, it's in Q3 that we see how big the impact that an increase in production can have on the metrics that matter most, like views and reactions," said co-founder and CEO Dror Ginzberg.
"We're also excited to see how the trend toward longer video progresses and if this does alleviate some of media's monetization challenge. Either way, we will continue dig through the data to provide the industry with insights and best practices that will help each attain their goals."