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Will Facebook Become an Online Video Destination?

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Video is a huge social media market, and it seems like everyone wants to get in on it. Facebook has made some recent changes in the hopes that it can become a destination for video online. If Facebook becomes a home for video online, what could this mean for YouTube, and for video advertising?

According to TechCrunch contributor Josh Constine:

All businesses will soon be able to choose a featured video to be displayed extra-large with a live comment feed atop their Page, and cobble together playlists of more of their videos. This makes the Videos tabs of Pages look and feel a lot like YouTube Channels.

Indeed, Facebook could vastly expand the depth of its video tools by offering comments next to videos and creating video hubs. Currently videos appear uncategorized, without even a title on the thumbnail. With hubs though, Facebook could turn pages — which are experiencing some pretty low engagement rates — into destinations for fans.

Video has become a focus of Facebook recently. The implementation of video ads is one example, which while originally unpopular, seem to generate plenty of engagement. So far, the video strategy has been successful. In fact, users have taken to the ability to create and upload short videos, and since the functionality is native to the app, sharing is easy.

Sahil Patel writes for TheVideoInk

[D]on’t overlook how such an update to Facebook pages also impacts advertising on the social network. One can imagine all of the different ways Facebook can weave video ads on to these pages. That’s important for the company’s video business, which grows in audience size but largely remains un-monetized.

Video advertising has proven itself a very lucrative market, and marketers have seen the benefits of concentrating on share friendly Facebook as opposed to view friendly YouTube. However, YouTube is still the market leader for advertising, and it offers remarkably high conversion rates for purchases.

Image courtesy: Denis Dervisevic

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