At the core of social media is the ability to connect and share, and over the last decade, many platforms have emerged to enable this. It started with Facebook, which connected friends, then Twitter, which connected celebrities, and then Instagram, which focused on sharing photos. Now, however, the platforms are beginning to shift roles, and now all three are competing to become the social media platform most popular with consumers. This new focus on social is opening up new opportunities for brands and content creators alike.
For the most part, online streaming media has been considered a dying art. But as we all know, there are few things in life that goes without being improved upon. Much like the book industry, the media industry has faced a lot of problems. People have complained of poor quality, high prices, and limited access. But thanks to the advent of social media and the internet, things have changed fast.
The whole idea of live streaming is to create a sense of community, but not everyone has the same definition and experience of social media. For example, Snapchat is designed to be used as a more private form of communication, whereas Periscope is more about how you are performing rather than what you are saying. Twitter and Facebook are designed for engagement, but live streaming platforms such as Facebook Live and Periscope are designed for broadcasting to friends and followers. The Internet of Things is starting to make broadcasting itself easier and more accessible, and this means content is starting to be shared on a more timely and personal level.
Everyone seems to want to live these days. It’s not like we’re still living in the 90s. TV channels are not the only ones offering live content.
Technology has progressed to make this luxurious know-how available to the greatest number of people. You don’t have to spend a lot of money to create complex streaming installations. They have become so compact, affordable and simple. Just grab your smartphone, open the mobile app and you’re live in milliseconds. You may have noticed it on all the popular social media platforms.
Today, brands are investing significant amounts of money to leverage live video. But why?
Because live streaming is the new trend. People like them and interact with them more than any other content on social media platforms. Live video has helped brands consolidate their position on social media around the world.
Video streaming development
One of the main reasons why live video is so popular is its integration with social media platforms. Remember that social media platforms are already available to the masses. When such a popular product gets a feature that was a luxury just a few years ago, you can expect nothing short of a boom.
To understand the connection between social media and live streaming platforms, you have to go back 5 years. At the time, live broadcasts were not available to the general public. The term live streaming platform has been used to refer to business service providers that charge large sums of money to stream your content live over the internet.
1. Installation was complicated and expensive
Live streaming service providers were the only ones with the resources and infrastructure to deliver live content. If someone wants to broadcast their events live, they contact the service provider.
Unlike today, this was not just a mobile application, but a full suite of multiple software solutions, encoders, decoders, CDNs, servers, transcoders, video players and network infrastructure. Such a complex configuration can only be achieved by a specialized company offering live broadcast solutions.
Thanks to the live streaming capabilities of social media, ordinary users can now avoid spending money on infrastructure. The infrastructure is now anchored on social media platforms. The users have the possibility to use the already existing equipment through mobile applications or websites. In short, as a regular user, you don’t need to create your own live streaming configuration.
2. Battle for survival
The market is saturated with many social media platforms. However, both are very popular with their respective audiences. To continue to attract users and make money from advertising, they had to evolve, just as their competitors with live features evolved.
Five years ago, YouTube’s livestreaming feature was only available to certain creators in the United States. It was still in development. However, Facebook introduced its livestreaming feature quite early, in 2016, and gained massive popularity, already being the most popular social media platform at the time.
As a result, Twitter acquired Periscope that same year and integrated the livestreaming feature into its platform. A year later, YouTube finally made a live streaming feature available to the public.
More than 82% of social media users, when surveyed, said they prefer to view live content rather than read text-based content. These trends have forced most brands to focus on social media and reaching as many potential customers as possible.
3. The race for market share
It’s not just about survival. Social media platforms are doing their best to improve their livestreaming capabilities. A report from Buffer found that 31% of companies used live social media to promote their brands in 2017. This number has only increased in 2018, and we expect tremendous growth in late 2019 as well.
Companies are making full use of this luxury, but they are not the only ones using live streaming platforms. Livestreaming on social media is popular with businesses because it is already widely used by ordinary people. As more and more people participate in social media feeds, it becomes easier for brands to communicate with potential customers in real time.
Brands host live QNAs, show what happens behind the scenes, present product launches and sponsor other live events. All this has helped them increase their brand awareness and build trust.
In 2018, for example, Intel sponsored a Cybersport event, a global PUBG tournament. The event not only increased brand awareness, but also showed that the company’s technology is powerful enough to run such a heavy game and handle global live events. It was a positive advertisement for the brand, and it reached the masses because it went viral on Facebook.
Popular live streaming platforms
Looking at the trends, Facebook, which is already the largest social media platform, is getting the most traffic for its open-source video streaming platform . But other social media platforms are not inferior.
Facebook’s popularity as a social media platform has increased by over 330% since the introduction of the live streaming platform. More: Even YouTube admits that video usage on mobile devices has increased by 100% since the introduction of live streaming. With live video gaining popularity over other streaming VOD formats, several social media platforms saw their ad revenue increase by at least 113% in 2017. (Source of information: livestream.com)
A new trend is emerging: YouTube has also started live streaming some TV channels. For now, this list contains mostly news channels. However, it seems that YouTube will soon start broadcasting channels in other niches.
Streaming trends and assumptions
Can you pretend I’m so sure about 2019 or next year’s trends?
This area has dominated in recent years, and with its availability on social media platforms, livestreaming continues to evolve and attract even more businesses and prospects for a variety of reasons. Social media itself is the most effective marketing tool, and using live streaming will only increase its effectiveness.
It has become a career choice for many
Livestreaming on social media platforms like Facebook, YouTube and Twitch has given creators the opportunity to make streaming a career. Whether it’s travel, tutorials or live games, each of these platforms is full of creators offering interesting live content.
In particular, we are seeing significant growth in the gaming industry as a whole:
- Live streaming of video games has become wildly popular with the social media community.
- Streamers of video games earn 6 figures by playing live games.
- Although it’s not official, it’s believed that a popular streamer on Twitch earns over $100,000 a month from subscribers to the game.
- With the rising popularity of video game streamers on social media, many creators have found a way to get brand sponsorships and marketing deals of significant value.
Streaming on social media has really become a career opportunity and is encouraging many more people to join this league. The more creators participate, the more people will view their feeds and the more brands will use them to promote their business. We can clearly see that it is gradually creating an ecosystem in which social media platforms coexist.
This is a business opportunity for new companies
Not only are the popular social media platforms thriving, but more and more entrepreneurs are joining Facebook, YouTube and Twitch. It won’t be surprising if new platforms emerge with more specialized business ideas.
Entrepreneurs around the world are showing a lot of interest in creating their own live streaming platforms and launching their own shows in niches like cooking, travel, gaming, etc. The applications for the open source video streaming platform , have even doubled compared to last year.
People are excited about the possibility of creating such live streaming platforms. To do this, they are looking for ready-made live streaming solutions, such as . B. YouTube and Twitch clone scripts. There is compelling evidence that livestreaming is becoming increasingly dominant in the social media sector. At the same time, entrepreneurs are trying to capitalize on this prospect by setting up their own live streaming platforms, such as YouTube, Twitch and others.
So yes, I think live streaming is an emerging trend, and it will change not only the type of content, but also the type of social media platforms.
Do you think creating a live streaming platform would be a great business idea for 2019? We’d love to hear what you think about this. Are you involved in such a project?Despite the sheer number of streaming sites and services available, it’s still hard to keep track of them all. But the good news is that some popular services like Twitch have recently gotten much better at making content accessible on the web. The live streaming service recently unveiled a new feature that lets you subscribe with Facebook and get immediate access to live streams. That’s great news for viewers, but it’s also a feature that could easily be adopted by other companies. And similar to YouTube, it could allow for the creation of content bundles that make it easier to find and watch what you want, as well as find new creators to follow.. Read more about live stream infographic and let us know what you think.
Frequently Asked Questions
Is live streaming the future?
Live streaming is the future. It’s a new way to consume content and it’s changing the way we watch TV. What are the benefits of live streaming? Live streaming is a great way to watch content when you’re not at home. It’s also a great way to watch content on the go. What are the drawbacks of live streaming? Live streaming is a great way to watch content when you’re not at home.
What is the next social media platform 2021?
The next social media platform 2021 is likely to be a combination of Facebook and Instagram.
What will be the future of social media?
The future of social media is uncertain. It will continue to evolve and change, but it will not disappear.
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