The importance of right now: exploring the demand for live video
With live video far outpacing the growth of other types of video content, it is important to address why live is seen as first-choice in video consumption for millions of viewers and making sure that any organisation is prepared to fulfil demands that are only going to occur more and more frequently.
According to a study, the streaming industry is estimated to reach $70.5 billion by 2021. *
Generally, organisations have come to accept the importance of video content, whether that is video on demand or live, and more and more are deploying IPTV or enterprise video platforms that supports the distribution of video. However, the degrees of capability and reliability of video platforms differs hugely. Surprisingly, there are still many companies that can’t distribute video in a fast and secure manner, and going live? That’s not even an option!
According to a study done by Forbes, 13% of total video traffic in 2018 will be live, and these videos running alongside advertisements can boost engagement by 22% **
Why is there an increasing demand for live video?
The rise of live video and IPTV is undeniably in correlation with the growing capabilities of smart phones and mobile devices. Over half of us watch videos on our mobile devices as opposed to on desktops or laptops. The portable nature of mobile devices means the demand to access live video, no matter where you are in the world has increased, and the infrastructure and enterprise video platforms are being rapidly developed to fulfil these demands and keep up with the sheer volume of video content that is being produced. For example, more video content is uploaded online in 30 days than major US television networks have created in 30 years.
Key applications of live video streaming & IPTV:
- CEO address
- Sports event
- Live music concerts or festivals
- Town hall address
- Key-note speakers at conferences and events
- Product launch videos
- Behind the scenes access videos
- Breaking news
Live video is ‘just’ more engaging
The facts don’t lie. Viewers spend on average 8x longer watching live video than VOD. People are more likely to comment, share or interact with a live video than they are pre-recorded content, they are also far more likely to watch a live stream, for longer. *** Facebook announced that their Live videos are on average watched for 3x longer than other video content and receive 10x more ‘likes’ on the social media site. ****
Culturally, we have reached a point where information is at our fingertips – and no-one wants to wait to grab a-hold of it. We live in a world where things are rapidly changing and constantly moving forwards and the ability to distribute instant communications via IPTV is not only paramount, but the expected normality. Can you afford to lag behind?