December 16, 2020
In 2020, the steadily growing category of video offers, especially the short form, aimed at younger target groups, increased. The latest to make a place in the room? Reddit.
The platform recently announced the acquisition of the short video platform Dubsmash. While the app retains its own platform and brand, Reddit will incorporate its video creation tools to enhance the creative options for developers and brands.
"Video is playing an increasingly important role in the way people want to connect. As we continue to grow our community, we strive to provide the best possible tools users need to find, create, and interact with each other through video interact, "Reddit shared the official announcement.
The way to the video
Since native video started in 2017, the usage of Reddit reports has grown dramatically, doubling in 2020 alone, resulting in millions of organic video uploads. Separately, a Reddit spokesperson told Social Media Today sources that a Reddit spokesperson told SMT that over 291,000 streams were shared by more than 54,000 streamers on the platform in the first year of RPAN.
While these streams were originally limited to 45 minutes, there is now a way to extend the length. This could open the window for developers to monetize their videos and access Dubsmash's 52 million active users per day.
For some background information, Dubsmash is considered to be one of the biggest competitors of TikTok, which achieved initial success in 2015 as a lip-synchronous video app. In 2017, it expanded its appeal by adding more features that earned it the title of social platform and relocated its headquarters from Berlin to Brooklyn. Fast forward to this year had over a billion downloads and was the second in the short-form video market.
Increase under-represented voices
Consumers prefer realistic depictions of life over depictions of escapism. Hence, hearing their conversations is more important than ever, rather than predicting what they want or value.
With this in mind, platforms need to adapt as brands take a stand on political and social issues far more than in decades past, not only providing a branch of support but also acting as advocates for the consumers they represent and for the consumers Problems they face.
According to the announcement, Dubsmash is "a welcoming platform for developers and users who are underrepresented on social media". Approximately 25 percent of all black teenagers in the US and women represent 70 percent of Dubsmash users. This seems to go well with Reddit's mission to promote a sense of community and belonging across thousands of topics and passion points.
"In our years building Dubsmash, we've learned how video can stimulate creativity, unlock interactions, and deepen connections within communities," added Suchit Dash, co-founder and president of Dubsmash. "Our focus is on showing another side of the internet."
The transition to video is just beginning
"The transition to video will be greater than the transition to mobile devices," Reddit CEO and co-founder Steve Huffman said in a statement to the Wall Street Journal. "We are only at the beginning."
Video streaming apps saw a 40 percent year-over-year increase, followed by games (35%), finance and shopping apps (25%), and social and communication apps (20%). Overall, it's safe to say that the global pandemic has accelerated the adoption of mobile devices in ways that simply cannot and will not be reversed. App Annie predicts we're roughly 2 to 3 years ahead.
Video is forecast to make up 78 percent of cellular traffic by 2021, up from 60 percent today. TikTok may be king for now, but that doesn't stop others from profiling themselves.
In an age of empowered consumers, video will continue to be a core format that is central to finding, sharing, and obtaining content. Brands should focus on experiences – and they need to be easy to navigate, extremely creative, and match the space and flow of communication. Video is one of those focus areas that are worth incorporating into your content strategy.
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