With the majority of the world currently on lockdown, most global events have been postponed or were canceled altogether. In times such as these, the need for alternative solutions to live events has grown drastically. Luckily, people have found a solution to circumvent social distancing and isolation. We don’t have to leave the house to attend remote events anymore — we can now enjoy all the benefits of conferences, theater shows, conventions, and more from the comfort of our homes. All of that is thanks to live streaming technology!
We know that this might be quite surprising for some people, but it’s true. Many have already begun live streaming their events and shows over live streaming platforms such as Twitch. In fact, the platform has seen an incredible rise in viewer numbers since March 2020. Video conference platforms like Zoom and other Zoom alternatives have seen a similar increase in popularity due to many people taking their business meetings and classes to a live video setting. The platform’s user base jumped from 10 million to over 200 million in just about three months!
With all that said, it should be clear by now that you don’t have to cancel your upcoming event; instead, live stream it!
Are you worried you won’t get sufficient attendance to cover the necessary costs? Don’t be!
The Live Streaming Industry Is Booming
The live streaming industry has doubled in size between April 2019 and April 2020. But that is not the only indicator of its unprecedented growth. Here are some live streaming statistics from Restream that can better illustrate that:
- The most popular live streaming platform, Twitch, gets more than 15 million daily visits and is home to over 3 million content creators.
- Twitch features more than 500,000 daily broadcasts from unique, active streamers.
- One in five Facebook videos is a live broadcast nowadays.
- The watch time of Facebook Live broadcasts quadrupled during last year alone.
- Experts predict that live video consumption will increase by 1,500% by 2022 and end up comprising 17% of all internet traffic.
With all that in mind, the fact that professionals believe live streaming will become a $70.5 billion industry by 2021 should not come as a surprise! And how could it not with all the traction it’s been getting during these times of social distancing? It has been an enabler for many businesses and artists out there to stay relevant on the market. In other words, live streaming helped many people preserve their income during these times of mass layoffs. An excellent example of that would be artists who were highly dependent on income from touring. Luckily, when musical events around the world got canceled, many of these musicians found a home on streaming platforms like Twitch.
Is Live Streaming Just a Passing Trend?
If you think live streaming is only a passing trend, think again. Live streaming has been around for well over a decade now, but it lacked awareness. But now that it is part of everybody’s lives, and, most importantly, that it has proven an incredibly effective solution, do you think it will lose traction after the pandemic? Yes, of course, it will, but not as much as most would think.
Live streaming today is not just a temporary solution to a current global problem — it’s a reform of modern-day communication.
It would be foolish to think that the popularity of live streaming won’t go down after the pandemic. However, people will have already gotten used to live streamed events being part of their routine that the industry will still experience a boom, at least compared to its state pre-COVID-19. Also, more people will be more open to using streaming for different events, conferences, business meetings, and similar. Such widespread use and acceptance of live streaming will only nurture the industry and help it grow.
So is live streaming going to go away? We’d think not!
The Power of Live Streaming Solutions
Live streaming connects people. Also, it has proven invaluable at helping businesses all over the world survive lockdown. But even when the world returns to normal, live streaming will still carry incredible benefits for brands. Here is how live streaming can help your business:
- It helps you grow your audience — More and more people are tuning into live streams regularly, so filming one yourself is an excellent way to get your brand in front of more eyes.
- It’s cost-effective and easy to produce — Live streaming is a much cheaper option than video, for example, and it also requires much less time in the post-production process to release.
- It facilitates audience engagement — Live streams are perhaps the best way to engage your audience because they are more adaptable than the other most popular online engagement tool out there — video.
- It’s an excellent way to interact with your customers — Consumers worldwide want to see more humanity and personality from brands, so what better way is there to give them that than by interacting with them on live streams?
- It helps you raise brand awareness — You can use live streaming to project your company values to vast audiences and boost brand awareness.
- It’s a fantastic way to build trust with your audience — Allowing your customers to see the human element of your brand allows you to make meaningful connections and build trust.
Live streaming will undoubtedly prove to be a potent tool for your brand every step of the way. So whether you decide to use it to interact with your audience or stream your live event or a happening, you’re bound to find success.
And no, getting into live streaming doesn’t have to be hard!
Start Live Streaming With TargetVideo
We at TargetVideo understand that change is never comfortable, so we’re aware of how daunting live streaming may be to those unfamiliar with it. That is why we ensure all who decide to start live streaming with us have a seamless experience. If you wish to begin live streaming at TargetVideo, you will get to enjoy the following benefits and features:
- DVR Support (the ability to play, pause, and rewind live events)
- Multiple Streaming Quality Renditions (including HD)
- Mobile Live Streaming
- Live Stream Monetization
- Premium Customer Support
Also, our state-of-the-art video platform and user-friendly CMS ensure our users have a hassle-free experience when setting up their live streams. All you have to do is follow this guide to get an embed link from us that you then paste on your website. After that, your live stream is done and ready to go!
Oh, and if you’re a live streaming beginner, don’t worry; we have plenty of useful content that can help you prepare for your first live stream. If you’re looking for some reading material on the topic, check out our guide on how to live stream video content and our live streaming tips and tricks — we’re sure you’ll love them!
If you want to join the TargetVideo family and start live streaming events with us, send us an email, and we’ll create a custom pricing scheme fully tailored to your business needs.
So if you have an event coming up and are considering canceling it, remember — don’t cancel your event; stream it!
