Has it really only been just over a year that the world started live-streaming from their phones? Yes, it has, and since then, the live-streaming space has gained many competitors.
Periscope reported back in August 2015 that it had hit an impressive milestone of 10 million registered users after just four months of its launch in March of 2015. While that milestone is impressive in itself, Periscopes true success comes from that fact that on any given day, just over 350,000 hours of video are streamed – that’s nearly 40 years of watch time every day from its iOS and Android apps.
While Periscope might have been first to the live-streaming game, in December of 2015, Facebook quickly followed and launched Facebook Live. Since then, Facebook has found great success and the latest figures report that people spend 3x longer watching live video compared to a video that’s pre-recored. As a consequence, Facebooks Product Manager, Vibhi Kant, stated in a Nuvi blog:
“We’re making a small update to News Feed so that Facebook Live videos are more likely to appear higher in News Feed when those videos are actually live, compared to after they are no longer live.”
There is no question that Facebook has a competitive edge in this space with its existing infrastructure and its 1.71 Billion userbase. With Facebook Live, it’s easier to reach your fans through the app natively vs. taking them off the app to a third party app. Since its launch in December of 2015, Users have been extremely satisfied with Facebook Live because it offers a more raw and candid outlet than periscope.
It’s worth mentioning that Facebook recently launched a partnership with Samsung to develop VR (Virtual Reality) technology incorporating Facebooks’s 360 streaming video. This exclusive deal is projected to grow Facebook Lives user base in the upcoming years and will really tell who the leaders in the space are.
Other companies such as YouTube, Meerkat, and Snapchat are playing in the live streaming space that was once dominated by periscope. It will be very interesting to see in the upcoming years to see which brand dominates the space and how the market changes all together.