Fastest growing industry
Online streaming is one of the fastest growing industries. In fact, the video streaming market is worth more than 30 billion dollars. It’s expected to be worth more than 70 billion dollars by 2021.
More importantly, live video streaming is outgrowing video on demand. The year over year growth of live video is 113%, while long videos on demand have grown 30% and short formats have grown only 9%. [Neil Patel]
Another proof of the growth of live videos is the changes happening in all the social media platforms. Apart from the platforms created for live streaming, most social media channels now also facilitate live video. For example, Facebook live, YouTube live, Instagram, Periscope from Twitter, Live.ly from Music.ly and many more. Live videos are here to stay and they are taking over.
What’s more exciting about the live video format is its audience. Since live video is out there, on most platforms, people of all ages are watching and creating live streams.