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How Crisis 2020 Boosted Live Streaming

  • Rating — 5 (3 votes)
  • by Anna - Technology Author and Strategist
  • Updated on June 18, 2020
  • Read —
    4-5 minutes

In the last two months the popularity of live streaming and number of newly appeared broadcasting platforms skyrocketed. This unexpected interest in live streams is caused by coronavirus and quarantine. People have to avoid public places and direct social contacts, and of course they have to stay at home. 

If not so long ago we all could go to concerts, museums and art galleries, now we cannot enjoy all those things. So the only available kind of entertainment we all have is the Internet and everything it offers. And that is exactly when live streams become handy. They are a perfect alternative to real events and they are also real-life saviors that do not let us get extremely bored. 

The time spent in isolation at home can be quite depressing but on the other hand it grants all people a great opportunity to learn something new or to enjoy usual things in an unusual way. For example many musicians and singers are temporarily left without their jobs, opera houses and theaters cannot give any performances right now. 

But why not broadcast a performance or a concert? And that is exactly what New York`s Metropolitan Opera.  It is so-called online music festival enjoyed by both the musicians and their fans. The musicians who manage this digital event sell tickets online for $20 each and offer high-quality live streams of a concert for this price.

Do businesses need live streaming platforms? 

Real Time Live Stream is a very promising industry that can bring a decent income to business owners who consider building their own broadcasting platform. Just take a look at the statistics below! 

One major advantage of live streaming is that you can find your audience that will like the content you are sharing. It is possible to broadcast literally everything. We have explored this business niche and discovered that the most popular types of live streams are: 

  • Concerts and various music performances (opera, musical, DJ sets, etc.); 
  • Sport events (different matches and competitions); 
  • Theater performances; 
  • Advice from specialists in different spheres of life; 
  • Online tours (in museums, galleries, historical places, etc.);
  • Cooking lessons; 
  • Educational lectures. 

And this list can be extended further. As you understand the possibilities for businesses are endless. Even the companies that at a first sight do not need to broadcast anything, may actually benefit from live streams. Sometimes business opportunities are just not so obvious.

Let’s take Chinese company called Joyoung. They are a leading manufacturers of kitchen appliances and as many other enterprises they experienced hard times this year. When the outbreak of coronavirus started in China and all companies had to be temporarily closed, Joyoung came with an awesome idea that afterwards boosted their business

This company started broadcasting the testing of various kitchen gadgets and demonstrating how helpful they can be in quarantine. It was a brilliant idea, because many people were locked in houses and had to cook. As a result the sales of Joyoung increased drastically due to live streaming practice. This example demonstrates that live streaming can be a powerful tool if it is correctly used in business. 

Feel that your business needs a live streaming platform?

Can live streaming platforms be profitable? 

Do you still have doubts whether creating a broadcasting platform is a good idea that can lead to success and bring you money? Then you should definitely take a look at some great examples and check out how they manage to bring income. 

First let’s speak about YouTube live. You’ve probably heard about this popular platform and know how huge its active audience is. YouTube live incorporates advanced analytics and a number of services like chatting and a variety of tools. To receive money on YouTube live all you need to do is to broadcast something interesting and that’s all. You will be paid for advertising and for the number of stream viewers ($2 per 100 people). 

But not all platforms work like this. Some of them offer their viewers to buy a subscription. Such approach is more reliable and better for a business. Let’s take Twitch, a famous interactive live streaming platform that even has no annoying ads within it. Twitch allows all users to watch whatever video they like directly from their console. While the basic account is free, the users who would like to enjoy turbo accounts should pay $4.99 monthly. 

Upstream is one more good example of a broadcasting solution. It lets all users to live stream their important events or online shows. It is mostly used by marketing and other teams and it hosts 2+ million videos per month. Upstream offers a lot of useful features and also fast and effective online support. To use this live streaming platform users should be ready to pay $99 per month. 

To sum it up

Live streaming is a great niche to invest into. It grants a business many new opportunities and can keep bringing profit independently of circumstances. Live streams give people a feeling of presence and help to forget about social distancing for a moment. People can enjoy the performance, music or wise advice shared by professionals thanks to high-quality audio and video.

In times of pandemic live streaming became an important part of our lives and let us feel connected to each other without leaving our rooms. The connection to the world is what broadcasting is about and that is the main reason why it will keep getting more and more popular even after the quarantine. 

Have a live streaming app in mind?

Anna - Technology Author and Strategist I am mainly focused on enterprise mobility (Apple, Android), and digital transformation, highly curious about all emerging tech trends, always pay close attention to crucial details and try to find answers to a lot of questions before writing about something.
Alexandra Rostovtseva Being a proficient leader with over 10 years of experience in Project and Product Management, Business Development and Sales, I have strong skills in Negotiations, Crisis, Client and Risk management. Being an outstanding communicator I’m also a good mentor and leader in the tech industry. Experience and expertise are the key foundations in my ability to provide deep insights into the industry and as result I’ve also been published or was a contributor to several tech and business articles.

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