Is 2017 the Year of Live Video?
As we’re approaching the end of 2016, there is a question on everybody’s mind: is 2017 the year of live video streaming? You bet! I predict adoption will dramatically increase due to several factors.
Proliferation of video platforms
The field is no longer solely dominated by niche platforms. Most of the major players in the web space came to understand that the act of live streaming is becoming a cultural norm. Many Individuals love to communicate with their communities (be it personal or professional) in a direct manner; video offering this unadulterated, “raw” form of communication.
There is something for everyone: Facebook Live, YouTube, Twitter Live allow to tap into your existing audience in those established communities. On the other hand, sites such as Twitch (gaming), Ustream (politics, tech) cater to specific demographics and subcultures.
A more connected world
The progression of live video streaming is closely related to Internet accessibility. In recent years a lot of progress has been made globally.
A report released in November 2016 by the United Nation’s International Telecommunication Union (ITU) shows that 47.1% of the population is online, (increase from 2015’s figure of 43%). Furthermore, the omnipresence of mobile networks has played an important role in increasing Internet connectivity. Mobile broadband networks currently cover 84% of the world’s population. There are many initiatives around the world to expand that reach such as OneWeb, which plans to make available affordable satellite-based Internet service worldwide as soon as 2019.
More affordable hardware and data
Not only the world is more connected than ever, the cost of mobile data and hardware has also decreased. In the US and other jurisdictions with similar levels of wealth, many entry-level smartphone handsets now cost below 100 dollars (USD) when purchased independently of a subscription.
Furthermore the cost of mobile data is becoming more affordable. For example it has been reported that daily data subscriptions are now selling for as low as Rs 4,999 in India (approximately 0.28 USD). One can expect competition to dramatically intensify on a global scale in the next year. Making data affordable will be critical to ensure users can use live streaming functionalities on their phone when wifi availability is scarce.
The augmented reality factor
Another element which might entice smartphone users to embark on a live streaming journey is the development of augmented reality. The ability of using AR environments during live streams will change the way we broadcast information.
So far, Snapchat has been at the forefront of that growing space with innovative filters. Some brands have started partnerships with the video platform to provide branded filters (for example the “Taco Bell Taco Shell Filter” which transforms your head into you guessed it … a taco shell).
Of course, the possibilities are endless with applications that go beyond entertainment: healthcare, education and more.
Brace yourselves … the revolution could be live streamed.
