One year ago I published my views on the rise of live video streaming apps, highlighting the success of live video streaming platforms, and what I thought the future held for video.
So what’s happened since?
Since, Periscope has slipped down the App Store rankings currently sitting at 632 in the US, while its main competitor from 2015, Meerkat, is dead in the water after getting pulled from the App Store back in September 2016.
Periscope App Store ranking, USA (2016). Source: www.appannie.com
What has forced this change in the outlook of streaming apps? Two words- Facebook Live. As predicted, Facebook Live has rocked the boat of the live video streaming landscape, and taken the reigns from Periscope as the live video streaming platform.
Facebook Live is all about what’s happening in the moment. So it shouldn’t be much of a surprise that content that’s still live draws much more engagement than video that’s no longer live. Users watch Facebook Live videos 3x longer that non-live videos, and live videos drive comments at over ten times the rate than videos that aren’t live.
I’ve said before that I see video as a mega trend on the same order as mobile. That’s why we’re going to keep putting video first across our family of apps and making it easier for people to capture and share video in new ways…We’re also improving live video as more people use it. New Year’s Eve was our biggest live moment ever, with more people going live than at any other time since we launched the product
Mark Zuckerberg, Facebook CEO¹
What does this mean for brands?
Social Breakers report:
“While media still lead the way with live streaming video, celebrities and companies have increased their usage by a total of 8% and 10%, respectively. It is possible that media have widely integrated Facebook into their live streaming strategy because they are able to reach a larger audience with minimum effort, which is essential to any breaking news story coverage. More importantly, the ability to publish live content perfectly fits the mission of any media company. Facebook Live has become just an extra platform that media companies can leverage to deliver news to large audiences.”²
Facebook Live and Periscope (2016). Source: https://www.socialbakers.com
Instagram Live Video
Following Facebook’s acquisition of Instagram way back in 2012 for $1 billion, 5 years on it’s obvious to see that Facebook always had big plans for the standalone platform. After being acquired by Facebook, Instagram have increased the number of active users from tens of millions to 600 million, with 400 million daily activities¹.
Global Social Networks Ranked (2017). Source: https://www.statista.com/
Instagram now has its own live video capabilities, as well as disappearing photos and videos for groups and friends much like Snapchat. Instagram Stories reached 150 million daily activities¹ just five months after the launch and more and more brands are using video on Instagram for advertising with 200 million video ads per month, making up 25% of ad impressions.
What’s next for live video?
With Facebook’s flourishing success, can anyone compete with them?
YouTube, owned by Google, recently announced that you will be able to stream live from your phone, just like Facebook Live. This will change the way YouTube influencers use the platform, allowing them to create live videos and bring them direct to their subscribers through mobile.
YouTube users with more than 10,000 subscribers will be the first to get the mobile live streaming capability first, with it then being rolled out to all users. One would assume this is to promote it exclusively and organically through popular channels before handing over the feature to the wider public. Much like Facebook, the YouTube app will have an additional live button and users will be able to discover live streams from channels that they don’t necessarily follow.
With over 1 billion users, YouTube prides itself in investing in creators with a dedicated team focussed on helping users make quality and engaging content. Dedicated to video content and its creation YouTube is the perfect platform for live video, so will this new mobile feature make it the new live video platform?
Thank you for reading and follow my Twitter account @marketing4s for all things digital marketing and social media.
¹ Fourth Quarter and Full Year 2016 Results (Facebook, 1st February 2017) https://s21.q4cdn.com/399680738/files/doc_financials/2016/Q4/Q4%2716-Earnings-Transcript.pdf
² Facebook Live and Periscope Live Streaming by the Numbers (Social Breakers, 25th November 2016)