How livestreaming is changing the face of the events industry: Part 1
Livestreaming now accounts for more than two-thirds of all internet traffic and that number is set to rise to over 80 per cent by 2020.
But it’s not surprising. Livestreaming is a big business and is making waves among the younger – and now older – generation.
Perhaps the biggest breakthrough was the introduction of Facebook Live in 2016, an in-app livestreaming feature which brought instantaneous broadcasting technology to the masses. With access to some 2.2 billion monthly users worldwide, Facebook effectively normalised livestreaming, broadcasting, and viewing behaviour.
But recognition shouldn’t solely be awarded to Mr Zuckerberg. Pioneers in the industry took the virtual bull by the horns long before Facebook made a move on the market. Among those is the US-based Twitch.tv, a millennial phenomenon which brings millions of users around the world to watch other people play video games. The notion sounds entirely backwards to some, but wholly feasible to others – just look at the numbers. In 2015, Twitch announced it had more than 1.5 million broadcasters (that’s the people who host the livestream) and 100 million visitors per month. The company was purchased by Amazon (yes, the Amazon) the year previous for just shy of one billion USD.
YouTube also launched their live service in 2011, using it to broadcast landmark events such as the Royal Wedding and Coachella festival, which attracted 21 million people over the week. Twitter’s Periscope platform is also proving popular, with 350,000 hours of video streamed every day.
So, where can it go from here?
Perhaps livestreaming’s success can be attributed to accessibility. Almost everyone has access to the internet at home or at work, it’s often free to watch, and viewers are free to tune in and out as they please – or watch rebroadcasts at a later date.
And that’s why it’s changing the events industry. The ability to beam an event out to thousands, if not millions of spectators is an attractive prospect to customers and sponsors alike. Livestreaming can also come at minimal expense; the platforms are ready and waiting and you could even use a mobile phone or an HD camera. For high production broadcasting, you can easily outsource the equipment, crew and capabilities.
Studies also show that 30 per cent of people attending a livestreamed event attended the physical event the following year, while 50 per cent of those watching the broadcast may not have had any prior exposure to your brand.
So is livestreaming worth a pop? Almost certainly.
The salesy bit: sometimes things can go wrong in the middle of a live broadcast – and usually it’s because of the flimsy internet connection. To livestream in high definition, most providers recommend a minimum internet upload speed of around 10 Mbps (that’s megabits per second). That might be more than the venue can provide. We can deploy a fast and reliable internet connection at any site in the country so you can livestream your event without a hitch. Simply get in touch and tell us what you need.