Live streaming has been enjoying a healthy following over the last few years, but as 2020 has forced us indoors and online, its success has skyrocketed. Here’s how and why live stream video broadcasts have been booming in 2020.
The Stats Say it All
Enforced lockdowns from the Covid-19 pandemic have seen swathes of events, meetings and activities cancelled this year. But, instead of writing these all off completely, businesses, providers and influencers have been turning to the internet to live stream their content instead. As well as providing an online alternative to many cancelled activities, many people stuck indoors during lockdown have watched live stream content as a source of entertainment.
The statistics prove just how popular live streaming has become. From April 2019 to April 2020, the live streaming sector surged by 99% with regards to hours watched. Between March and April this year alone, the live streaming industry witnessed a growth of around 45%, with popular platforms such as Youtube, Twitch and Facebook seeing vastly increased audience figures. Indeed, the average amount of screen time this year has rocketed by 76%.
While many of the gaming brands have exploited the live stream market and enjoyed massive gains this year, other names and sectors have jumped on the live streaming bandwagon and earned substantial success. In particular, the daily PE broadcast from Joe Wicks firmly but this fitness coach on the map, where he garnered over 700 million views worldwide with his live stream workout sessions. A raft of key industry influencers, from top chefs, to beauty specialists have also all benefitted from live streaming this year, with many music, fashion and sporting events, as well as festivals, broadcasting live over the internet.
Yet, away from the world of showbiz, many businesses have been taking advantage of live stream platforms to keep in contact with clients, customers and colleagues, with Zoom meetings, in particular, playing a key role in collaborating with others who have been forced to work from home. Educational establishments have also used live stream broadcasts to simulate a classroom situation, to continue learning and training.
Live Streaming is here to stay
While live streaming may have become especially popular this year because of the pandemic, it’s likely that businesses and influencers will keep using this form of communication and marketing even when life returns to normal (whatever that will be). Researchers believe that the live streaming market is set to grow by an estimated 20.4% over the next six years alone.
Experts reckon that live video vastly increases consumer engagement, with 70% of brands claiming that video content produces higher conversions than other methods. Crucially, those brands that use video content can expect to see a 49% faster revenue growth compared to those that don’t. Researchers have also found that over 80% of consumers would prefer to watch a live stream from a brand, rather than reading their social posts or blogs.
The benefits of live streaming are also enormous for every business. Our team ensure high quality broadcast production live stream video. Being an interactive format, it is a really useful method to gain feedback from your followers, to give you ideas about how to shape your future content and product offering.
If you’d like to reap the benefits of using live stream content for your next business event, conference, awards ceremony, or anything else, please contact our team at livestream.uk.