One of the biggest developments of 2017 was live technology, video and streaming. There has been a variety of new innovations in the sector over the past year, many of which have been put to fruition making the offering of online footage more accessible than ever. This is increasing fan engagement in the entertainment industry. Whether you’re watching on mobile, tablet or desktop video quality has made significant leaps this year and this does not look to be slowing down anytime soon, in fact, it is stated that by 2019, online video will be responsible for four-fifths of global internet traffic.
Many have questioned what makes live videos so appealing to audiences? The rise in viewership of this format has been substantial with over 80% of internet and mobile audiences watching more live videos in 2016 than in 2015 a figure which still looks to rise. The digital age has led for individuals to require content on demand. As a result, the ability to live stream has allowed users to create content which is reactive. Technology advances have had a significant impact on the calibre of the picture, 67% of viewers have stated the quality of a video stream affects the consumption of footage. For this reason, there has been a range of developments both on mobiles themselves as well as connecting cameras. Most footage is taken off mobile, in fact, the younger generation is 56% more likely to also consume live content from a smartphone.
All social platforms including Twitter, Facebook, YouTube and Instagram have introduced the ability to live-stream over the last couple of years. With the competitive rivalry between the platforms, each is trying to outdo their rivals through introducing new features. Whether this is 360-degree footage, stickers or location tags all of these elements are helping to produce content which is creative and most importantly shareable.
Short streams have never been in more demand. Content which lasts less than 5 minutes is more like to be watched. The average time spent watching video on mobile is 2.8 minutes, this rises to 3.5 minutes for live streams. One of the main reason for this jump is due to the interaction which comes as a result. Not only can create engage with followers through the ability to answer questions you also have the ability to create reactive content which is more likely to be shared on the platform. It has been stated that 92% of mobile video consumers share videos with others, this is a phenomenal figure. It not only shows you that distribution of content is a significant part of the nature of online videos but it shows that the more easily achievable the more likely it will be used.
As we get closer to 2018 let’s examine what we see to be the next big innovations. As we have stated we believe Live-Streaming will continue to grow. Another area we expect to see significant growth next year is Virtual and Augmented Reality. In 2017 this technology has seen more investment than ever – seeing more organisation using this technology. One sector which is making excellent use of VR and AR is the sports industry. Using this technology allows consumers to feel as if they are part of the action, bringing the game to the audience creating a more engaging viewing experience for fans.
We also see that brands need to take more advantage of live streaming – whether this is behind the scene or at an event. Recent studies have shown that brand audiences would rather watch a video than read a blog post, even more so with live video with more than 81% preferring these compared to social posts. Even when purchasing a product, consumers are more likely to buy an item or ticket to an event after watching a video/live stream if this is used. This is something corporations need to look into for 2018 as producing reactive content which is attractive will help drive traffic and revenue.
