Future Of Live Streaming

In the not-too-distant future, streaming video in real-time is going to have an enormous impact on entertainment and commerce. In the coming decade, live streaming and democratized content will be the new norm, and any brands or organizations that establish themselves at an early stage will be those who push forward and shape the new landscape of living. Beyond just selling streaming as a service, the most innovative companies today are building live video into their products to build completely new offerings -- thereby pushing the limits of what is possible. Technology such as the Oculus Go, PlayStation VR, or the HTC Vive has impressed, but I expect technology companies will take huge strides over the next five years to integrate VR with live events.

In tandem, we are seeing marketers around the world jumping into the live-streaming space, looking for new, smart ways to reach their target demographics and engage their audiences in real-time, and according to MediaKix, 63% of marketers are planning on increasing the use of live video in their upcoming campaigns. Demographics who were slower in the past to engage in this medium, whether because of lack of awareness or the perception that the content they were looking for did not exist on these channels, are now ready and eager to adopt live streaming content. The trend towards live-streamed content is adopting video marketing on social media, bringing customers and brands more closely into touch.

The live streaming strategy benefits retailers, producing video events in real-time, creating a more authentic engagement with customers, and viewers, and in turn engaging consumers. With the live video streaming trend, eCommerce businesses will experience increased sales by going live with their products and performing live events concepts like See-Now-Buy-Now strategies. While previously, live streaming might have been an interesting, gimmicky addition to many new business models for live streamers, now, it is an essential method for communicating to your customers and audiences.

Classical musicians and their audiences embraced streaming in lockdown, and the potential for increased viewership, which the new technologies will only add, is one of the bright spots emerging out of the COVID-19 pandemic. Combine this massive market with increased streaming innovations, including metaverse engagement, VR, and increased connection, and it is clear why this market is poised to reach hundreds of billions of dollars over the next five years. Today, streaming video accounts for almost two-thirds of all Internet traffic, a figure expected to grow beyond 80% by the end of this year - without even taking into consideration the huge effect that the global coronavirus pandemic has had on streaming video.

According to a GlobalWebIndex survey conducted in Q3 2020, 32% of YouTube users globally watched a live-streamed video on the platform within the last month. According to Sprout Social, which measured consumers' appetite for various forms of social content between Feb. 28 and March 4, 2020 - before pandemic-related shutdowns across the U.S., too - 40 percent of U.S. internet users said they wanted to see more live videos. In a GlobalWebIndex survey conducted in the fourth quarter of 2020, 22 % of U.S. and UK social streamers said having a "buy" button available while a live streaming session would be the main driving force behind purchasing, compared to only 13% of social media users saying the same about social media content overall.

All musicians, dancers, theater artists, and other performers are eagerly anticipating the return of live audiences, but even if lockdown ends, live streaming seems as unlikely to disappear as our N95 masks. Whether it is an influencer giving their daily dose of advice to their followers, or a brand unveiling new products to millions of viewers, live video is here to stay. Plus, the FIFA World Cup is happening this year in Qatar, and there is going to be more live sports streaming around the world than ever, connecting fans across the digital divide.