Aside from being both cost effective and effective in general, live video is on the cusp of becoming the next big thing for brands and organizations. Here are five trends that we believe are defining the future of live video streaming and will transform your business.
- The rapid growth of online video: Since its inception, live video has been dominating online media. Over the years this trend has continued to grow in usage and popularity and has become the preferred media choice for communication. By 2019, it is projected that 80% of global Internet consumption will be video content. This trend is undeniably here to stay.
- The lure of 4K media: Since the release of 4K media, more and more video content is now being created in ultra high definition. The online proliferation of these high-quality videos have been welcomed with open arms and viewership rates are higher than ever. People are actively seeking out content with high-quality resolution, and the content creators who can give the people what they want will certainly cash in on this trend. As technology advances and 4K recording equipment becomes more widely available and affordable, we’ll see a further increase in 4K video, especially mobile live video.
- New video and live streaming platforms: Over the last two years we’ve seen a continuous surge of new apps and online platforms dedicated to live video. Meerkat, Periscope, Facebook live, Instagram live, Snapchat, the list goes on and on. The emergence of all of these apps just goes to show the appetite for live video technology within the market. Businesses are leveraging live video for marketing, sales, and CRM purposes, amongst others, and as time goes by more and more organizations and brands are adopting the trend.
- Progressive decline in standard TV viewing habits and subscriptions: It’s no secret that traditional television viewing habits have declined in the last decade. People are forgoing their cable television subscriptions and replacing them with streaming sites like Netflix and Hulu. They are now even substituting their television sets for laptops and mobile devices. The direction has shifted significantly in favour of online videos and on-demand services. This trend is going strong and the future lies with online video – the days of terrestrial and cable television is coming rapidly to an end.
- Inclusiveness: Both the interactive features integrated into live video and the inclusive nature of watching a live event as it happens, makes the experience more captivating and compelling for the audience. This is the thing that will continue to draw in viewers and increase engagement time after time over traditional media.
These are the top trends that are influencing the future of live video. From what we predict, the future of live video, especially mobile live video, looks extremely bright – so don’t get left behind and get started using live video as soon as possible, if you haven’t already! Check out how the Iris Platform could help you with mobile live video.