Today, live streaming has evolved from being a cutting edge method of reaching out to people into one of the most popular and mainstream forms of broadcasting. It’s not just small streamers who are engaged in this industry. Big brands such as Google, Amazon, Apple, etc., have all realized the potential of this sphere and were quick to hop on the train to the future. Let’s take a look at the history of live streaming, some current facts and what the future holds for this industry.
Live streaming is no longer a new phenomenon – it has become one of the most famous forms of broadcasting and entertainment. While much of this boost in popularity can be attributed to the ongoing pandemic, experts say that the story has only begun for this industry which is oozing with potential and opportunities.
Latest Live Streaming Facts & Trends
Here are the latest facts about and trends of the live streaming industry.
- The pandemic changed the way people spend their time at home. Around half the population of the world uses the internet every day.
- Streaming platforms have now become the leading source of in-home entertainment.
- Co-viewing has gained significant momentum during the pandemic for a shared viewing experience.
- During the pandemic, the number of users on Twitch grew by 101%.
- Over 99% of the companies are planning to continue using live streaming as a marketing tool.
- During the first quarter of 2020, there were around 400 million subscribers streaming music worldwide.
The Future of Live Streaming
The pandemic has changed the way people enjoy the content for good and it is highly unlikely to change any time soon. It’s almost like COVID-19 opened Pandora’s box for this industry. In fact, a report by Market Research Future claims that the size of the live streaming market is expected to reach USD 247 billion by the year 2027. This consistent growth will be due to social media platforms providing opportunities for people to connect with the world, the rising popularity of esports, and renowned personalities and businesses using these tools to reach a greater audience.
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However, if we look at the other side of the coin, the world has started taking its baby steps back to normalcy. In the United States, people are already filling stadiums for concerts and sports events. So, does the prediction still hold true? Here’s how we think the live streaming industry will continue to thrive.
Exclusive moments – While streamers often follow the one-to-many structure and stream to their viewers worldwide, brands can also go for the one-to-one structure to arrange for VIP sessions and reward their most loyal customers anywhere across the world.
Talent acquisition – Live streaming makes scouting for the right talent easier regardless of where the person is geographically located.
Global reach – Experts argue that a band might hold offline shows in a stadium but their reach will only be limited to the few thousand people attending. However, if they choose to livestream it as well, they will be able to reach practically the entire world.
Live streaming is truly the future – it is rapidly replacing all forms of traditional sources of entertainment. Get in on the action before it’s too late with Flutin today.