Live streaming has taken the digital world by the storm. The facts and figures that float around indicate there is no stopping its rapid growth. And even in these early stages, live videos are an incredible tool for arresting your audiences’ attention, spreading brand awareness, and communicating messages in a new and immersive way.
The meteoric rise is due to that alluring immediacy that recorded videos and static images simply cannot replicate. Likewise, live streams feel more genuine and less scripted than most other types of content. So, are you ready for a short and compressed history lesson that could help you propel your brand ahead of the pack?
The game has changed
Video games were responsible for spearheading live streaming into the mainstream.
It all started back in the mid-2010s, when Twitch managed to attract a devout following. In a short period of time, its usage rates exceeded major streaming services like HBO and made elite-level streamers such as Tom Blevins rich. YouTube was quick to join the party with its Gaming sub-site and ushered in a new era in video game streaming. Nowadays, hundreds of thousands of people watch games like Fortnite and even gaming consoles come with built-in streaming features and camera integration.
Strong winds of change sweep across the online gambling industry as well. Players who seek only the best live casino service these days want to be able to go against live dealers. They accept nothing less than striking HD graphics and seamless real-time feeds. Providers like PlayOJO have risen to the occasion, enhancing the virtual gaming experience and prompting other casinos, betting sites, and bookmakers to move towards the live streaming frontier as well.
Pushing the media boundaries
Gaming trends heralded the live screaming explosion that followed in subsequent years. You certainly do not have to take our word for it— the available stats are quite telling.
First of all, the video streaming market is projected to grow to a whopping $70 billion by 2021. The upward trajectory is poised to continue past this milestone and it is not clear when we will hit the plateau. If we had to guess, we would say that it is not likely to come soon, especially with more self-service vendors and platforms entering the race. Besides that, another trend playing into the hands of live streamers is easier access to video on mobile devices, mostly via apps such as Instagram’s Live Stories.
Furthermore, one of the main driving forces behind the proliferation of live streaming is the audience’s obsession with the immediate gratification it offers. People want meaningful interaction and the quickest way to achieving a goal, be it finding handy information, becoming a part of a cause, or forgetting about the real-world problems for a moment or two. What is more, consumers are overjoyed to take part in running commentaries and act as much more than passive recipients of messages.
Live videos in global limelight
We can best observe the dynamics of this surge in the social media landscape.
Facebook Live is certainly setting the frantic pace as the most popular platform in existence, despite some major hurdles such as violence on videos. According to the social media behemoth, more than 2 billion people have watched its live broadcasts. Twitter is determined to catch up, spending millions on live streaming NFL games and raking in ad revenue as a result. Other brands are awakening as well, taking advantage of the fact that social media produce 1,200% more shares than text and images combined.
Beyond social media, they are also using live video experience to drive 41% more web traffic from search engines. Studies have revealed that the conversion rates are also much higher across mediums (such as email) when videos are included. People cannot seem to get enough of juicy behind-the-scenes insights, company tours, product launch videos, executive interviews, etc. These pieces of content unveil the inner workings of companies, showing a brand’s human face and inviting immediate feedback.
Getting down to business
B2B brands have to take notice too and jump on the bandwagon sooner rather than later. After all, 75% of executives watch videos on business websites at least once a week and 59% of them would rather watch a live video than read plain text. These findings reflect broader, aforementioned shifts in media preferences of internet users and shorter attention spans. In the light of these realities, all other content formats appear as either inconvenient or dated.
So, like it or not, live streaming represents the pinnacle of modern media experience. It is an amazing strategy to steal the digital show and tell a compelling story. So, I would advise you not to swim against the current. Dominant brands of today, such as Coca-Cola, Buzzfeed, and Chevrolet are upping the ante on video marketing and medium and small businesses have no intention of lagging behind.
Video killed the radio star and now live streaming is effectively blowing other media outlets out of the water.
Full steam ahead
The overwhelming body of evidence suggests that live streaming is here to stay and rock the digital world. Namely, live videos are taking over media outlets and serving as the most prized assets in digital marketing collateral. Users on social media and other booming ecosystems have embraced this riveting trend, paving the way for underlying platforms to reach even new heights.
So, if you really mean business, it is time to prime your marketing cannons: harness the power of live videos to put the best face of your brand forward.