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Live Video Streaming: The $30 Billion Industry You’re Missing Out On

 

The live streaming video market is growing at an alarming rate. In 2016 it was already valued at an astonishing $30 billion and is projected to grow to $70 billion by 2021 and it’s outperforming the growth of all other types of video by 113%. At Zype, we’re passionate about OTT, so our contribution of knowledge and services to this booming industry is something we’re really proud of. We want our customers to take advantage of what is one of the fastest growing and most lucrative industries in media today.

Here’s how you can grow and promote your live video streaming business.

Know your market

If you’re in the early stages of growing your business or are looking to expand your audience, it’s a good idea to go back to basics and take a look at who is interacting with your content. The biggest consumers of live streaming are millennials (shocking…) but people of all ages are creating and consuming live content at this very second. If you’re a Zype user you can easily check your audience data on your analytics dashboard. If you aren’t a Zype user or your provider doesn’t have easy to access analytics, you can send a short customer survey to learn more about your consumers and their preferences.     

Live streaming video stats

Get Multicasting

What good is your content if no one can find it? Promote your live event like your business depends on it (it does!) by sharing your content where your audience is. If you read our blog on Live Multicasting, you would already know that on Facebook alone, there are 1.32 billion daily users watching 100 million hours of video every day and Facebook Live videos are being watched 3x longer than regular videos. 82% of Twitter’s predominately mobile audience watch video content directly on the platform, and now Periscope enables them to watch live as well. Multicasting enables content owners to easily push their live event to all destinations in the cloud, including social live streaming platforms, from a single source.

Build a multi-channel campaign while you’re at it

Everyone loves a good hype campaign and achieving box-office style success is easier than you might think. If you have the email addresses of your audience you can start by sending a drip campaign with a ‘Save the Date’, and slowly reveal more and more information to really get your fans excited about your live event.

If your streaming your live content on Facebook or Twitter it only makes sense to build a paid advertising campaign to your audience and build lookalike audiences. Add a snippet of video content from a previous event or poster style graphic with details of where and when they can watch your live event. If you have a limited budget, we recommend uploading your existing viewer database to Facebook and excluding them from seeing your ad.

When the show is over

If you’re running your video empire properly, the show is never truly over. Keep in touch with your viewers after your live event and uncover insights to set your next stream up for success! Here’s what you can do:

Were our tips helpful or did you have some of your own? Contribute to the ever-growing video community by shooting me a note at jess@zype.com.

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