From yesterday’s Facebook Q2 results analyst telephone conference as transcribed by Seeking Alpha:

Mark Zuckerberg: …if you go back 10 years, most of how people communicated and shared was text. We are going through a period where now it’s mostly visual and photos. We are entering into a period where that’s going to increasingly be primarily video, and we’re seeing huge growth there.

[…]

Chief Operating Officer Sheryl Sandberg: So over 1 million SMBs (Small and medium-sized busiensses) have posted a video on Facebook, which is pretty amazing, because I doubt 1 million SMBs have ever run what is a video or TV ad.

What tools will these millions of business owners and Facebook users be using to make their Facebook videos? Facebook and Google favour online applications. Adobe, Apple and Avid will promote mobile apps and computer applications.

As the market expects video tools to be free or almost free, price won’t be a differentiator – maybe features won’t be a differentiator. It’ll come down to the user interface. The editing metaphors that win the mass consumer battle will the basis of future editing UIs for everyone.

Frequency of words in the analyst call:

• Facebook: 62
• ads: 49
• video: 34
• ad: 33
• mobile: 33
• Instagram: 31