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Live Streaming - Just A Phase or Here To Stay?

Monday, May 11, 2020

Written by Jim Ragosta

Live Streaming has been popular during the COVID-19 outbreak, and I refer to “live streaming” in a broad way within this article because there are so many ways to do so. Live Streaming allows people to engage in real time, whether that’s watching your favorite artist perform, obtaining information from a press briefing, or watching your friend cook dinner in their home. Live streaming allows us to be more connected than ever with that “personal” feel, filling the void when we can’t be together in person. However, as we move closer to the “new normal,” will there still be a need for live streaming or is this just another phase? My answer may surprise you.

Live streaming has been around for a number of years but recently has seen exponential growth in use. The concept provides individuals/businesses opportunities to communicate with others in real time. Content types are fruitful, with video ranking as the number one way to engage and interact with people.

When the COVID-19 outbreak started back in mid-March, events were cancelled and people stayed home. TV viewership skyrocketed and time spent on the internet and social apps also increased. In conjunction, live streaming took off, with people scheduling ZOOM meetings, artists doing performances from their homes streaming to their social media channels, and the list goes on. With large participation from individuals/businesses utilizing these services and how it has become increasingly more common rather than uncommon, live streaming will not go away, rather it will just come at “a premium.”

Live streams can be created in various ways depending on the platform being used. Monetary exchanges are available during, before, and after streams, some services will not let you access the streaming content unless you pay up front. Moving forward, this concept will be increasingly popular, as it is easy, convenient, and safe for the live streamer and viewer. To access the private live stream event, you would just need to purchase your virtual ticket to have access to the URL. People may be hesitant to go to a concert with crowds of people, or perhaps just can’t attend because of their work schedule…..but what if there was an option to live stream the concert from home at a premium price? Get your group of friends together, and experience the concert in a new, safe way for $60.

Live streaming is CONVENIENT, and convenience generally comes at a premium price. Am I saying that if you wanted to go live right now on your Facebook page you’d have to pay? No, of course not, but the experiences many people are having for free currently being live streamed may slowly be looked at as another opportunity to make money by the live streamer.

Live streams can be created in various ways depending on the platform being used. Monetary exchanges are available during, before, and after streams, some services will not let you access the streaming content unless you pay up front. Moving forward, this concept will be increasingly popular, as it is easy, convenient, and safe for the live streamer and viewer. To access the private live stream event, you would just need to purchase your virtual ticket to have access to the URL. People may be hesitant to go to a concert with crowds of people, or perhaps just can’t attend because of their work schedule…..but what if there was an option to live stream the concert from home at a premium price? Get your group of friends together, and experience the concert in a new, safe way for $60.

Live streaming is CONVENIENT, and convenience generally comes at a premium price.

Am I saying that if you wanted to go live right now on your Facebook page you’d have to pay? No, of course not, but the experiences many people are having for free currently being live streamed may slowly be looked at as another opportunity to make money by the live streamer.