YouTube’s short-form video platform ‘Shorts’ now has over two billion monthly logged-in users, which is no small feat considering it only launched in 2020. Advertisers too are eyeing up the TikTok alternative, as video content continues to grow in popularity, offering major opportunities for businesses to reach young audiences.
In a December 2022 survey published by Insider Intelligence, 50 ad buyers in the United States were asked whether their largest clients are advertising on video platforms, and if so, which ones. The poll found that where TikTok remained by far the most popular choice, with three quarters of respondents saying their largest clients are advertising on it, Meta’s Instagram Reels was also a top contender, with two thirds of ad buyers reporting that their clients advertised on it. Despite being newer to the game, YouTube Shorts is catching up in the rearview mirror of its competitors with just under half of respondents’ clients having said they are advertising on it.
Analysts at Insider Intelligence highlight how TikTok will have to work to keep its leading position, noting that while the possibility of a TikTok ban did not initially made advertisers reduce spending, ongoing tensions between the U.S. and China over ByteDance divesting its U.S. TikTok stake “aren’t likely to instill confidence.”
Find out more on how social media marketers plan to double-down on short-form video in 2023 here.
