Live Streaming Market Trends

Key Emerging Trends in the Live Streaming Market

The live streaming market is booming, thanks to various factors that are making it increasingly popular. One major driver is the growing trend of people watching live-streamed videos across different industries. This surge in demand is fueled by advancements in technology, such as cloud computing, mobile app development, and software integration. The COVID-19 pandemic has played a significant role in this trend. With the global workforce being advised to stay at home to stay safe, people are turning to video content streaming platforms like Netflix, Hulu, Disney Plus, and HBO Now for entertainment.

These platforms have experienced a substantial increase in customer subscriptions during lockdowns, with Netflix alone boasting 183 million subscribers. Interestingly, 80% of consumers now prefer watching live videos over reading textual content or blogs. Live videos are seen as more captivating and engaging than other forms of content. As a result, video streaming is predicted to account for over 82% of all internet traffic this year. In the United States, 42% of internet users streamed live video content in 2018, dedicating more time to longer live videos rather than shorter 1-minute clips. Several popular platforms contribute to the growth of live streaming in the United States.

Facebook Live, Meerkat, YouTube Live, Younow, Snapchat, Twitter, Periscope, and others are favored choices, with users spending an average of six hours per day on these platforms. This widespread use highlights the immense popularity and appeal of live streaming. Greater brand engagement and reach are also driving the live streaming market. Businesses and brands are recognizing the potential of connecting with their audience through live videos. This interactive and real-time form of communication allows brands to engage with consumers on a more personal level, fostering a stronger connection.

The live streaming platform's ability to reach a vast audience adds to its appeal for businesses looking to expand their reach and connect with a broader customer base. Additionally, the continuously growing number of internet and smartphone users contributes significantly to the expansion of the live streaming market. As more people gain access to the internet and smartphones, the potential audience for live streaming content continues to increase. This widespread access to technology creates a favorable environment for the live streaming market to thrive.