Facebook gets overrun by video content, as well as video ads. One of the world’s biggest video platforms, Facebook sees 8 billion video views and over 100 million hours of video watched each day alone.
For marketers, video ads are a big opportunity to capture people’s attention and make things happen. So what are the actual Facebook video ad statistics you need to know for 2024?
This in-depth guide covers all the latest data on:
- Facebook video ad growth trends
- Benchmarks for video campaign performance
- Video usage and engagement metrics
- Optimal video marketing practices
- The biggest problems with Facebook video ads
And plenty more all marketers should understand.
Let’s dive in!
Facebook Video ads Insights
- Daily Video Engagement: According to Yans Media, Facebook experiences about 4 billion video views on a daily basis.
- Extensive Viewership: More than 500 million people watch approximately 100 million hours of videos in Facebook daily (Tubular Insights).
- Mobile Dominance: Mobile-centricity of the Facebook is evident through the fact that 65% of all Facebook video views arise from mobile users as noted by Adweek.
- Silent Viewing: Interestingly, Digiday indicates that 85 percent of Facebook users watch the sound off video.
- Native Video Impact: Forbes explains that among native videos on Facebook, their popularity is so high as to generate 478% more shares compared with other.
- Advertising Dominance: eMarketer showed that in 2018 Facebook managed to capture 24.5% share out of the total video ad spend in the U.S.
- Swift Impact: Indeed, over 40% of the total worth of a Facebook’s video ad is generated within the first three seconds, highlighting its capacity to engage instantly
- Cost Efficiency: WordStream points out that Facebook video ads are very cheap and amount to about 10 percent of the carousel as well as single image ads
Spending on Facebook video ads increases year over year
In the past several years, the growth of Facebook video ads has been nothing less than meteoric.
Some key statistics show the expansion:
- Looking forward, in 2024 Facebook’s ad revenue will reach US $ 170.82 billion, an increase of slightly more than 11 % from the previous year. This will be the fourth consecutive year Facebook has seen more than $ 100 billion in advertising revenue. But the 2024 forecast shows slowing growth momentum compared to this year’s 13.1 % jump. (Source: Oberlo.com)
- Video ad impressions grew 31% YoY during the same period (Source: afaqs.com).
Both spend and impressions are increasing without signs of abatement…
eMarketer predicts double digit gains will continue over the next two years:
- By 2025, analysts expect Facebook’s ad revenue to rise 9.7 % to $187.35B US dollars; they then predict that it will crack the $ 200 billion mark in the following year, with an increase of 8.3 % every year (not counting inflation). (Source: Oberlo.com)
And the rise of video ads is even outstripping other Facebook ad formats. Spend growth in standard image ads was only 8 % last year.
No doubt, video ads are the biggest opportunity on Facebook today and in 2023.
This trend accords with changes in user behavior as well. All around social media and websites, people long for more video content.
And Facebook usage statistics show its 2.9 billion monthly active users (Source: Statistica.com) is no exception; with video taking up nearly half the time on the platform (Source: Engadgets.com).
Facebook’s video creation tools and video ad choices have accelerated growth further.
However, apart from expenditure and impression figures, what are the benchmarks for campaign results?
Facebook Video Campaign Results Benchmarks
But the true test of how much better Facebook video ads are for growing brand value than TV lies in real world results.
Let’s explore benchmarks across key metrics:
Video Ad Clickthrough Rates
CTR measures how compelling your video is at getting a viewer to take action.
- Average Facebook video ad CTR: 0.33% (Source: socialmediaexaminer.com)
- Top performing verticals see video CTRs over 1%, with Retail at the top:
| Vertical | Avg. Video CTR |
| Retail | 1.16% |
| Entertainment | 1.12% |
| Consumer Packaged Goods | 1.02% |
- On mobile vs desktop:
- Mobile video CTR: 0.90% (Source: klientboost.com)
- Desktop video CTR: 0.24%
It is clear mobile delivers higher viewability and response rates.
Video Completion Rates
But do viewers watch your whole video or give up in the middle? Completion rate measures retention.
- Average Facebook video ad completion rates:
- <15 sec videos: 100% completion
- 15-30 sec videos: 65%
- 30-60 sec videos: 44%
Therefore, most Facebook video ads should be under 30 seconds to get maximum retention.
Engagement Rates
There are likes, shares and comments. But engagement goes beyond views.
- Average Facebook video engagement: 0.27 Sec (Source: Facebook.com)
- However, square 1: And engagement is much higher on 1 format videos:
- Landscape video: 2.56%
- Square video: 6.31%
Square sizing leads to 78% greater engagement over landscape orientation (Source: rocketium.com).
Conversions Rates
How many viewers will take your desired action after watching the video?
- Average conversion rates for Facebook video ads:
- From video view to landing page visit: 10.47% (source:Wordstream.com)
- From view to AddToCart: 2.34%
- From view to purchase: 0.51%
Naturally, conversions vary enormously by sector and product type.
These averages however provide starting points to aim for.
Cost Per Conversions
Marketers also look at what you pay to acquire customer actions from video ads:
- Average cost per landing page conversion: $0.42 – $3.89 ( Source: wordstream.com)
- Average cost per purchase conversion: $12.91 to $44.23 (Source: Wordstream.com)
Rates will depend on your vertical, offers and margins once again.
Now that you’ve seen the benchmarks, what about more qualitative indicators?
Top performing Facebook video ad types
The probability of watching a live stream is 4 times higher compared to recorded videos among Facebook users. Video engagement on live streaming is about 26% more on Facebook than on other platforms..
- Facebook native videos have 10 times more reach than shared YouTube links and get 478% more shares than other sites.
Demographics of Facebook Video Statistics
The majority of people who use Facebook are between the ages of 25 and 34. This is true for both males and females as well. Again, the latest Facebook figures show that the site is very popular in every financial group with different levels of education. the proportion is over 60 percent among various groups. Hence, digital marketers consider it an essential channel for their campaigns.
- The biggest portion of the Facebook users is made of the people within the age bracket of 25-34.
- By disaggregating along gender and by far the largest male age bracket (25-34) consists of 18.8% of Facebook users. On the other hand, the biggest female segment is also within the 25-34 age bracket (17.8 percent of all the users)
- Furthermore, in the US, 32 percent of 12-34 year olds are mostly on Facebook (Edison Research, 2020).
- Facebook also enjoys the usage rate of 69.25% across all income levels. 70 percent of workers who earn less than $30,000, 77 percent of those earning between $30,000 and 49,999, 61 percent of workers getting between 50,000 and 70,000.
- Concerning education, there are about 73% of Facebook users who graduated from collages, followed by those who attended colleges but never graduated with 71%. Similarly, there are high school graduates or less at 64%.
- It is also worth noting that 47% of the social media users prefer Facebook than any other application. More than 70% of them are people who are above the age of 55 years, more than 60% are 35 – 54 years old, and more than 21% are 12 – 34 years old according to Edison Research.
- countries with maximum number of Facebook users are India with 320 million then US (190 million), Indonesia (140 million), Brazil (130 million) and Mexico (93 million)
- By March 2024, almost three quarters (75.83%) of social networks users access Facebook from mobile phones
Facebook video advertisement – Utilization by age
In order to make videos that suit the different categories in Facebook, it is important to consider different ages. Marketers will also gain significant insights on how the various age sectors interact with video content on this platform.
The story of Facebook user engagement in an age-oriented setting is interesting. This is because young users, particularly those aged between 18 and 24 years old, prefer watching videos. More precisely, 75 percent of time spent by viewers on this platform is watching videos. The passion among this generation shows that brands that target young people can leverage the power of video content to capture attention.
However, users above 65 years old spend only 65 percent of the time watching videos on Facebook. Such cross-generational interaction speaks volumes about the website that interests people of different age groups and provides a broad setting for marketers.
In addition, 71% of shoppers in all the age groups consider the Facebook video ads relevant, although they are different in terms of age. This figure reinforces the idea that this platform has the ability to engage people of varying generations, communicating something meaningful for everyone. In order to hit an audience and leave an impression, one has to create a video that complies with diverse tastes of particular age segments.
Biggest Problems with Facebook Video Ads
Naturally, as the saying goes, there is no such thing as a free lunch. Facebook video ads come with their own set of challenges to tackle as well:
Viewability Rates
- Facebook video viewability hovers around 50 %. Half of impressions therefore go unseen.
- Shorter videos have higher viewability. But you still must pay for all the invisible impressions.
Attribution Difficulties
- As users switch between devices, matching video views to lower funnel conversions is difficult
- Wasted spend sneaks in through unattributed awareness building at the upper part of the funnel
Rising CPM and CPC Rates
- The increasingly intense competition has caused prices for bid video ads to gradually rise
- Year over year, average video ad CPM is up 63 %
- Also, the average CPC has increased 54 % YoY
Accurately Measuring Results
- The standard analytics also find it hard to count total watch time, quantify the quantity of watch time etc. for detailed optimization.
- Bulk metrics such as views or clicks don’t reflect real impact
Cross-Device Tracking Problems
- Users move between mobile, desktops, tablets and connected TV
- Back to conversion on a desktop is extremely difficult for one exposed on mobile
Yes, the explosive growth of online video makes video ads attractive. But remember to devote extra attention toward reducing these factors so you can take your ROI (Return on Investment) to a new level.
On Facebook feeds, Instagram reels, Messenger windows, the vast potential of the Metaverse and beyond…
Want to launch winning video campaigns on Facebook? Get in touch with our social video marketing experts.
Facebook Vs Instagram Video Stats for the year 2024
Here are some key statistics and facts to consider:
Facebook Video Ads
- Engagement Rate: Native Facebook videos have a 186% higher engagement rate than linked videos (Source: sprinklr.com).
- 85% of Facebook videos are watched without sound, emphasizing the importance of visually appealing content.
- 62% of respondents express increased interest in a product or brand after come across it on Facebook Stories.
- Cost-Per-Click (CPC): Facebook’s CPC ranges from $0.26 to $0.97.
- Cost-Per-Mille (CPM): Facebook’s CPM is $7.19 (Source: amst.co).
Instagram Video Ads
- Engagement Rate: Instagram videos have a remarkable 74% completion rate, with 91% of users engaging with videos weekly.
- Reach: Instagram Reels have an amazing 892% reach among accounts with up to 500 followers.
- Cost-Per-Engagement: Instagram video ads are 50% cheaper in cost per engagement compared to other formats.
- Targeting: Instagram’s targeting capabilities are particularly effective for younger audiences, with 43% of young adult social media users prefer Instagram Live over other video content like YouTube.
