Without a doubt, the internet is changing people's lives all over the world. People can now connect with one another remotely, and cool things can happen at the touch of a button, thanks to it. We now have access to live streaming services and are reaping the benefits.
Businesses are using live streaming, in particular, to engage a large number of customers and raise brand awareness. Live streaming is being used by artists, influencers, activists, churches, humanitarians, and many others to achieve their goals.
Without a doubt, live streaming has grown rapidly in recent years. Several debates have raged over whether the COVID-19 pandemic has had an impact on the live streaming industry. It has undoubtedly accelerated its growth. We'll show you how the pandemic has affected the live streaming industry in this post.
What is live streaming?
Livestreaming has grown in popularity. Regardless of its growing popularity, you may be wondering what it exactly means. If this is the case, you have come to the right place.
Live streaming can be defined as the transmission or reception of live video or audio over the internet. Whether you want to connect with customers, friends, family, business partners, and so on, live streaming is the way to go.
There are numerous live streaming tools on the market and new ones are emerging by the day. Facebook Live is a popular example of a live-streaming tool. Vimeo-Livestream and YouTube are also other live streaming tools that are making the waves.
What are the benefits of live streaming?
Long back, people only relied on traditional means of communication like newspapers and word of mouth to engage with audiences. However, with the internet. things have taken a shift. People can now live-stream anytime and engage with large audiences.
Live streaming is now among the most cherished tools all over the world. It offers so many benefits no one would want to miss. Let's look at the several benefits of live streaming below.
- With live streaming the type of streaming is live
The fact that live streaming allows for the transmission of live video to viewers is what makes it so powerful. This is fantastic because it strengthens the bond between the viewers and the hosts.
Viewers can see their hosts' facial expressions and determine the veracity of what they are being told. Having said this, there is no doubt that live streaming has a very real and powerful feel to it.
- Viewers have complete control over live streaming
Viewers can watch live-streamed content whenever they want, as long as they have an internet connection. While live streaming, you can watch a wide range of content, or rather the content you want to watch, which is a great way to stay entertained. This is in contrast to traditional television broadcasting, which forces viewers to watch whatever is available.
Without a doubt, live streaming offers a great deal of flexibility because it can be viewed on a variety of devices such as your smartphone, tablet, laptop, or smart television. It also has a number of features, such as the ability to record a live stream, which adds to its appeal.
- One-to-many broadcasting is possible with live streaming
One of the reasons why so many people have embraced live streaming is its ability to broadcast one-to-many. This is a wonderful thing, especially for businesses, because it allows for an infinite number of viewers to be engaged. This is convenient for both viewers and hosts of the live broadcasts.
As previously stated, engaging a large audience increases brand awareness, which in turn increases revenue. Any prudent business owner would not want to pass up such an excellent opportunity.
- Livestreaming is a low-cost option
Another factor driving live streaming's popularity is its low cost. Nobody wants to put their money into something that will strain their finances. Live streaming is probably the best way to connect with people all over the world for a low cost. Live streaming is a relatively inexpensive option whether you own a business and want to connect with clients or simply want to watch movies on Netflix.
People used to rely solely on movie theaters for entertainment, but since the pandemic outbreak, the majority of people have switched to live streaming. People can now watch their favorite movies and enjoy other forms of entertainment thanks to services like Netflix.
How has COVID-19 accelerated live streaming?
According to research, the video live streaming industry was worth more than $30 billion in 2016, and it is expected to double this amount by 2022. There is no doubt that the pandemic has had a significant impact on the industry's rapid growth. Instead of conducting campaigns or engaging with clients in person, businesses have been able to do so through the use of live streaming.
This has allowed them to engage a large number of people at once, saving time and other resources. This is only one example of how the pandemic has affected the live streaming industry. Let's take a closer look at some examples below.
- Live streaming has progressed from a source of information to a source of entertainment.
Lockdowns were imposed throughout the world as a result of the pandemic. In order to contain the novel coronavirus, numerous malls, shops, and cinemas were closed. As a precautionary measure, people were urged to stay at home.
To avoid being bored at home all day, many people have turned to live streaming platforms. As a result, there has been an increase in the number of people who use live streaming platforms. Hulu, YouTube TV, and Netflix, for example, are examples of streaming platforms. Twitch's user base has grown, as has the case with many other streaming platforms.
- The need for information and updates concerning the pandemic
While many people were on lockdown, there was a surge in demand for information about the pandemic and how to proceed. Thousands of people flocked to live news broadcasts to learn about the latest coronavirus updates. As people sought information, the number of people using live streaming platforms increased.
- The need to find new ways of doing business during a pandemic
Because of the imposed lockdowns, many people could no longer go to work physically, and if nothing was to be done businesses and companies were going to encounter some big losses. Businesses and people, in general, started using live streaming in order to engage with audiences.
Those who sell merchandise started doing live streaming to engage with customers, and show them new arrivals and merchandise that is on promotion. Artists like musicians also began utilizing live streaming so as to engage with their fans, which was pretty much successful. Since many people could not go to work physically, they started working from home and if there were any meetings to be done they were done online.
Live streaming will probably continue to grow post-pandemic-Why is that so?
The live streaming industry is guaranteed a bright future post-pandemic. This is because live streaming has become the new normal and it seems people won't withdraw from it. Businesses, churches, and organizations are reaping the benefits and there is no going back. Social media influencers are on the rise, and live streaming is helping them do better work and engage more people.
Conclusion
From what we have discussed above, there is no doubt that the pandemic has positively impacted the live streaming industry. Since covid-19, the live streaming industry started growing rapidly. This was due to the fact that people needed to adapt to the change the pandemic had brought and be able to conduct their businesses as usual though this time online. Its flexibility, as well as affordability, makes it a better choice of tool to engage with audiences.
The future of the live streaming industry seems bright, even post-pandemic. People have embraced it and are using it to make the world a better place. Live streaming has indeed become a game-changer.
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