The live streaming industry is growing at a tremendous rate. Already analysts are predicting that its value could grow up to $70.05 billion by 2021. Considering the fact that it’s a relatively new market, those are very impressive numbers.
Facebook, one of the most consistently popular social networks of all time, is a prime ground for live streaming marketing. Live Videos on the platform are watched three times longer than standard ones, for example, while the term “live stream” has grown more than 330 percent since the introduction of Facebook Live.
It is obvious that every social network and media platform that values videos is heavily investing into live streaming. In fact, some of them are built almost entirely around the concept of sharing live moments, such as Snapchat.
The aforementioned Snapchat has also provided incredible opportunities to connect with younger audiences. The age group of 16-25, for instance, is very difficult to reach via most social media yet they are very much accessible in Snapchat.
A lot of that has to do with the fact that live streaming promotes a sense of urgency like any other. No one wants to miss live videos and ephemeral content which provides exciting opportunities for unique events that will attract thousands of viewers.
The same goes for virtually every other platform that supports (and actively promotes) live videos. For instance, YouTube realized how important the concept of spontaneity is back in 2016 when it finally introduced live streaming via its mobile apps.
Today, the world of live streaming is truly ripe for the taking. Any marketers, influencers, advertisers, and anyone else involved in these types of industries should take a look at the infographic compiled by Filmora which should provide for some very interesting stats and figures on live streaming.