New research from Tata Comms Media reveals that global corporations overwhelmingly view video as a vital element of their communications strategies with customers, investors and employees, now and in the future. Moreover, almost half of companies are boosting their budgets in this area by more than 50%. The news comes just in time for the International Broadcast Convention – IBC – in Amsterdam (13-16 September), where leaders in media will be demonstrating and debating the future of video and how it impacts all areas of life and business.
Tata Comms Media commissioned Sapio Research to conduct a survey of 300 major enterprises based in the United States or United Kingdom in sectors such as finance, technology manufacturing, healthcare, and retail. The Rise and Rise of Video and Livestreaming in the Enterprise report shows that 99% of respondents recognize online video as important to their organization going forward, with nearly half (48%) deeming it critical. It also reveals a significant uptick in the planned use of video over the next two years as an impressive 92% of the organizations surveyed intend to increase their video usage.
The research also shows that 46% of the organizations surveyed increased their budgets in this area by more than half over the past two years, with 44% planning to do so in the next two years. In fact, only 2% of respondents have failed to increase their video budgets, demonstrating how widespread the recognition of video’s value is. The primary motivations for this increased investment include the perception that high-quality video is a hallmark of modern enterprises (57%), the need to boost sales (53%), and a desire for better content (53%). I
In listing their top three online video priorities, more respondents named livestreaming (60%) events – such as product launches, investor briefings, and customer conferences – than any other type of streamed content.
“Video now sits at the core of communications across major global organizations,” says Dhaval Ponda, Vice President and Global Head of Media & Entertainment at Tata Communications. “These findings highlight the strategic role video plays in enhancing corporate image, improving communication quality, and driving business growth – now and in the future. The shift towards more extensive use of video is about strategic deployment across multiple platforms and formats. Enterprises are leveraging video to boost a multitude of functions, driving sales, enhancing training, engaging their industry through social media, improving websites, and creating informative live and recorded content. The research shows just how powerful and strategic video – especially live content – is seen as a communications tool across the corporate sector.”
The Rise and Rise of Video and Livestreaming in the Enterprise will be published in late October 2024. In advance of the full report being available, Tata Comms Media will share a series of updates spotlighting the key trends that the report identifies over the coming weeks.
Visitors to IBC2024 can find Tata Comms Media on Booth 14.H06.
