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Live streaming is the evolution of live TV. The reasons why live TV made such a big impact was because it brought viewers up-to-date, informative and accessible content. Though it’s still popular, since online streaming, TV subscriptions have been in decline.
Its decline can be attributed to the growth of streaming and specifically to a shift in viewers’ behavior. The online video industry showed viewers that they should be in control to watch what they want when they want it.
While on TV, the content and accessibility are limited, on online streaming there is endless content accessible for free and with mobile devices. Even though viewers still have the time constraint on live streaming, it’s more flexible than on TV. They can watch on their phones and, most of the times, they can also watch the recording of the live video later.
One of the main reasons why live streaming is so important, for brands and individuals, is because of the level of interaction and engagement it offers. No other platform or marketing strategy allows for such level of interaction. Live streaming also has the highest rate of engagement of all content types.
On a live stream on Facebook, for example, viewers can post their comments and it shows up live, automatically. There is an opportunity for other viewers to interact with that person and for the presenter to interact as well. This instant gratification creates a deep connection between the viewers and the presenter. It also drives more viewers to engage with your content, in the hopes of reaching you.
The real-time interaction brings your audience closer to you and opens a great communication channel. You can ask them questions to get to know them better and they can do the same. What’s more, when they interact with each other, it creates a sense of community and they will associate you with it.
The genuine interaction that live streaming allows, creates a relationship with viewers. Videos on demand simply can’t create the same feeling because there’s less room for viewers to identify with the presenters.
The fact that a live stream is actually live, brings a human element to it. Anything can go wrong, at any time. If presenters make a mistake, stutter or laugh about something, viewers see the authenticity and identify with them. Unlike Live TV News, where anchors seem stiff and emotionless. Why do you think people love to see them make mistakes on live TV? It humanizes them and it’s relatable.
Being relatable is extremely important for any content creator. Though it might be more challenging for brands because they need to show their human side without being “human”. The personality of a brand needs to be in tune with its customers.
When you think “why live streaming?”, try thinking “why NOT live streaming?”
One of the reasons why live streaming can help you reach more people is because platforms will favor live content. For example, if you go live on Facebook, the chance of your followers seeing it on their newsfeed is higher than if you share an image or a video on demand. YouTube will also favor live video on its searches, as will many other platforms.
With increased exposure, you can generate more leads for your business or get more followers for your personal brand. Within social media, it’s also easier to get people to find and share live videos. Since it requires immediate action, they’ll need to share your content right away so their friends can also see it.
Another reason why live streaming is great to grow your audience is its cost-effectiveness. In the marketing world, there are many effective ways to reach people, but most require large investments. In comparison, live streaming can be created on a shoestring budget and still bring great results.
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.
