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Short-Form Content's Global Impact

GOOVER DAILY REPORT October 14, 2024
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TABLE OF CONTENTS

  1. Summary
  2. Short-Form Content as a Dominant Media Trend
  3. Impact of Short-Form Content on Global E-commerce
  4. Key Platforms for Short-Form Content Consumption
  5. Conclusion

1. Summary

  • This report investigates the substantial rise and influence of short-form content on global e-commerce and media consumption trends. Platforms such as TikTok, Instagram Reels, and YouTube Shorts lead the charge, reshaping marketing strategies with impactful, concise messaging. The analysis encompasses case studies, such as CosRX’s ‘Snail Challenge’ and Samyang Foods' ‘Fire Noodle Challenge,’ which utilized these platforms to significantly enhance brand visibility and sales. Furthermore, there is a noticeable shift in media consumption patterns, with users favoring short-form media due to its compatibility with fast-paced lifestyles. Demographic usage data reveals a strong preference among younger audiences, with platforms like Instagram and YouTube rapidly increasing in popularity. This trend is profoundly altering how brands and educators engage with audiences, heralding a paradigm shift in marketing tactics and cultural exchanges.

2. Short-Form Content as a Dominant Media Trend

  • 2-1. Rise of TikTok and Short-Form Content

  • The rise of short-form content has created a transformative trend characterized by platforms such as TikTok, YouTube Shorts, and Instagram Reels. Short-form content, which primarily consists of brief videos, has gained particular popularity among Generation MZ, who seek quick entertainment and information, often within short durations. Notably, TikTok achieved consumer spending of $3 billion last year, and YouTube Shorts recorded daily views nearing 30 billion. The accessibility and engagement of these platforms have intensified, with 7 out of 10 consumers aged 15-59 having encountered short-form content within the past year. Such rapid popularization has diversified the channels for short-form content, extending beyond TikTok to include Instagram and YouTube. Moreover, usage trends reveal distinctions among different age demographics, with platforms like YouTube and Instagram experiencing increased engagement, especially among younger users. As a result, short-form content continues to reconfigure how consumers access and interact with information, marking a significant shift in media consumption patterns.

  • 2-2. Changes in Media Consumption Patterns

  • The consumption patterns of media are changing significantly with the advent of short-form content. Short-form media is designed to align with the fast-paced lifestyles of modern consumers. Following the onset of the COVID-19 pandemic, there was a marked increase in online activities, particularly on platforms that serve short-form content. Users now spend an average of 46 hours and 29 minutes per month on short-form applications, which is over five times more than the average monthly hours spent on OTT platforms (9 hours and 14 minutes). This underscores the trend that users prefer shorter, more concise formats that cater to their limited attention spans. Furthermore, brands are adapting by utilizing short-form content for marketing purposes, recognizing its capacity to rapidly convey strong messages that engage consumers effectively. Schools and educators are also employing short-form content to enhance learning outcomes, demonstrating its wide-ranging impact on cultural and educational formatting. The growth of short-form media is not just a trend; it is driving changes in societal norms and everyday interactions, shaping the media landscape for the future.

3. Impact of Short-Form Content on Global E-commerce

  • 3-1. Successful Short-Form Marketing Campaigns

  • The rise of short-form marketing has led to significant successes in e-commerce through various campaigns. Short-form marketing refers to the creation of advertising and marketing content that is brief and concise, capturing customer attention and delivering messages quickly. Notably, statistics reveal that South Koreans spend, on average, five times more time watching short-form content than on OTT platforms like Netflix. Successful e-commerce brands have notably leveraged this trend to achieve remarkable results. For instance, the ‘Snail Challenge’ by COSRX utilized TikTok, which resulted in over 1.3 billion views and substantial brand recognition. Additionally, Samyang Foods' ‘Fire Noodle Challenge’ on TikTok has recorded 700 million views, greatly boosting sales and enhancing brand visibility. The engaging nature of short-form content, characterized by visually appealing, repetitive, and catchy elements, transcends language barriers, making them effective for global marketing strategies.

  • 3-2. Brand Recognition and User Engagement Strategies

  • Brand recognition and user engagement have notably improved through targeted short-form marketing strategies, capitalizing on the unique attributes of platforms such as TikTok and Instagram Reels. Short-form content typically utilizes hooks early in the video to capture interest quickly, differing from traditional long-form content. For instance, the structure of these campaigns allows brands to create content that is visually engaging and has a high potential for virality through the use of challenges and hashtags. By fostering strong connections with users through culturally resonant content, brands have an advantage in reaching diverse audiences. Reports indicate that 74% of TikTok users feel connected to others from different cultures, and 67% report learning about other cultures through the platform. The strategic application of these insights into marketing has proven particularly effective for brands aiming for global reach.

4. Key Platforms for Short-Form Content Consumption

  • 4-1. Platform Popularity Among Different Demographics

  • Short-form content has gained immense popularity among different age groups, particularly among the younger generation, referred to as the MZ generation. According to various reports, platforms like TikTok, YouTube Shorts, and Instagram Reels are particularly favored by this demographic. The growth of short-form content has been accelerated by the pandemic, as social distancing measures led to increased online activity. Data shows that TikTok achieved consumer spending of $3 billion last year, and YouTube Shorts reached daily views of 30 billion. Additionally, it is noted that among consumers aged 15 to 59, 70% have been exposed to short-form content. In terms of social media and search portal usage, Naver leads as the most utilized platform for information search, while YouTube and Instagram are experiencing significant growth in usage compared to the previous year.

  • 4-2. Highest Usage and Interaction Platforms

  • Among social media platforms, Instagram and YouTube have the highest daily access frequency, averaging four or more visits per user each day. On the other hand, platforms like Naver Band show the lowest access frequency and usage time. Users show distinct interaction patterns based on the platform, with Instagram and TikTok often seeing users engage through reactions like likes and hearts, while YouTube is more frequently used for searching information or creating playlists. The usage of short-form content is characterized by its ability to convey strong messages in a concise timeframe, designed to suit modern consumers' shorter attention spans. The average monthly usage time for short-form content per user is reported to be 46 hours and 29 minutes, significantly surpassing the average of 9 hours and 14 minutes for OTT platforms.

5. Conclusion

  • The escalation of short-form content as a dominant trend has profoundly transformed global e-commerce strategies and media consumption habits. Platforms like TikTok, Instagram Reels, and YouTube Shorts enable brands such as CosRX and Samyang Foods to execute globally compelling campaigns, aligning with the modern consumer's short attention span. However, as popularity rises, brands must navigate the fine line between maintaining authenticity and creativity to avoid eroding consumer trust. While short-form content excels in capturing attention quickly, its transient nature presents challenges in conveying deeper, comprehensive messages. Future prospects suggest further evolution of such content, emphasizing the development of more nuanced engagement strategies that blend instant appeal with sustaining interest. Real-world applications might include more tailored and interactive content strategies, enhancing the power of short-form content as an educational and marketing tool across various sectors.

6. Glossary

  • 6-1. TikTok [Platform]

  • TikTok is a social media platform known for hosting short-form videos, typically under 60 seconds. It has popularized the format and driven the trend towards concise and engaging media consumption, influencing global marketing strategies.

  • 6-2. Instagram Reels [Feature]

  • Instagram Reels is a feature within Instagram that allows users to create and share short video clips. It's an integral part of Instagram’s strategy to compete with TikTok in the realm of short-form content and attract similar consumer engagement.

  • 6-3. YouTube Shorts [Feature]

  • YouTube Shorts is a short-form video service by YouTube offering content up to 60 seconds long. It is designed to compete with other short-form platforms by leveraging YouTube's extensive user base and encouraging user interaction through brief, creative content.

  • 6-4. CosRX [Brand]

  • CosRX is a well-known skincare brand that effectively utilized short-form content in its marketing strategy, notably through TikTok, to enhance brand recognition and sales globally. The 'Snail Challenge' campaign highlights its innovative approach to digital marketing.

  • 6-5. Samyang Foods [Brand]

  • Samyang Foods is a food brand that gained international success through the 'Fire Noodle Challenge,' leveraging short-form content on platforms like TikTok to boost sales and global brand awareness.

7. Source Documents