The internet’s first live video stream in history is a performance in 1993, by a band Severe Tire Damage at an event Xerox PARC was hosting in Palo Alto. The members of the group were computer scientists working for big companies such as Apple Computer back then. They live-streamed their show by a system called Mbone, which was designed to decrease the amount of bandwidth required to transmit video and audio, yet streaming the footage took half the internet’s bandwidth at the time. After this humble beginning, in 1994, Severe Tire Damage opened the Rolling Stones’ first online internet show.
Live video has come a long way since then. It has become one of the most popular types of online content. The main social media platforms such as Facebook, Twitter, Instagram, YouTube, and LinkedIn have all adopted live streaming features. Live streaming didn’t stay as a feature but has also become the core function of some platforms such as Twitch and Periscope.
Companies use live videos to promote their products or services, increase brand awareness, and help their customers by organizing live product tutorials, Q&As, virtual events, etc. It is worth considering live video as a part of your online content strategy, but upon what facts should you build your live streaming strategy? Here are the crucial statistics you should keep mind if you are considering live video.
Growth of Live Video
- Live video grew by 93%, with an average viewing time of 26.4 minutes per session in 2019. (Conviva)
- 47% of live video viewers globally stated that they are streaming more live video content than the previous year, 2018. (IAB)
- Globally, 67% of consumers have watched live streaming video. The number goes up to 90% in MENA region and 70% in the APAC region in 2018. (IAB)
- The global video streaming market size is projected to reach USD 184.27 billion by 2027. (Grand View Research)
- The global video streaming market is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 20.4% from 2020 to 2027. (Grand View Research)
- On Facebook, one in five videos broadcasted was live in 2017. (Facebook)
- Daily watch time for Facebook Live expanded four times in a year in 2017. (Facebook)
The Audience and The Platforms
- 62% of viewers use smartphones to watch live video content. Yet, consoles, smart TVs, and other specific streaming devices are most preferred for long periods (2 hours or more) of live streaming. (IAB)
- Social media platforms (at 52%) such as Instagram Stories, Facebook Live, etc., and Digital Streaming Subscriptions (at 41%) such as Hulu Live, YouTube Live, DirectTV Now, etc. are the most popular live video content sources. (IAB)
- Millennials are most likely to watch live video on a smartphone (56%) or tablet (44%). (PipeWolf Media)
- On average, 1.05 million viewers were on Twitch in the last quarter of 2019. (Statista)
- In Q2 of 2019, Twitch users watch 2.9 trillion hours of live content. (Stream Elements)
- Twitter streamed more than 1,300 live events throughout Q1 2018, nearly a 3X increase over Q1 2017. (Twitter)
- Of the 100 most popular YouTube live streams, over 60 happened in the past two years, as of December 2018. (Think with Google)
- 80% of people would rather watch live video from a brand than read a blog. (Livestream)
- More than 35% of marketers use live video as part of their social media strategy. (HubSpot)
- Ad views on live streaming grew by 56% in 2018. (FreeWheel)
- Pop-ups (39%), pre-rolls, and sponsored by messages (33%) are the most common types of ad units encountered while live streaming. (IAB)
As we can understand from these stats, live streaming is becoming more important for consumers and brands. Yet, if you are planning to go live, there are some factors you should consider before streaming. Check this out to learn more about how to live stream successfully.