The real-time engagement brought by live streaming is booming exponentially, and it’s inevitable in the future.
Marketers, entrepreneurs, and content creators are using this wonderful tool to eliminate unwanted expenses and increase the viewership and brand awareness of their businesses.
But only a few businesses are at the top of the scale because they catch up and act according to the trends. If you want to be one of the top live streaming creators, check out the top live streaming trends in 2024, listed below
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What is Live Streaming?
Live streaming is the act of broadcasting live video or audio content through a platform to viewers over the internet.
Live streaming brings more engagement, viewership, and brand credibility to businesses and creators who are looking to build quality businesses.
Benefits of Live Streaming For Marketers
Live streaming offers numerous benefits like enhanced viewership, cost cutting and here we have listed a few of them industry wise with data:
1. Sales:
In 2023, China has brought in a huge 19.2% of retail ecommerce in sales via live streaming
2. Shopping:
- The tiktok’s competitor Douyin has made around 40% of it’s users to shop through live streaming
- Livestream commerce brings more marketing opportunities to brands to engage with their products and to interact easily.
3. Predictions:
Although the US has short returns in terms of live streaming shopping, a study predicts that around $130.10 billion sales will be made by 2026, (Insider Intelligence forecast).
Reaching Target Audiences in Live Streaming:
Live streaming is one of the simplest ways to reach your target audience, it brings you closer to the target audience rather than any other source. Check the lists below to know how to reach your target audience.
1. Geo targeting:
- Some of the live streaming platforms are enabled with features where you can target a specific region in the globe, rather than marketing all over the world.
- This helps you focus on your consumer, fans and viewers on a particular you want to reach.
2. Choosing right Topics:
Working with Google and creating compelling SEO targeted keywords are important as it gets competitive out there, targeting your audience with recent trends.
3. Tips:
Don’t go overboard with topics unrelated to your live streaming content.
4. Marketing:
Email marketing is one tool where you can use it for a personalized approach to your viewers and you can also send them a quick intro about your live streaming event. This will add up more connectivity with your audience.
The above ways are found to be highly productive. Make sure you use your creative side to spice it up.
⚡️ Read Also: 10+ Best Live Streaming Platforms for 2024 (Free & Paid) 🌟
Statistics for Live Streaming Platforms
- According to conviva, live streams are having an viewing time is estimated to be having an average time of 24 minutes
- A study conducted by intellectual Cunning states Live streaming boosted China’s buyer’s economy around 320 million and in individuals, almost 45% of the country’s digital buyers are made via digital purchases via livestream.
- The prominent Streamlabs states that in the first quarter of 2022 over 8 billion stream hours were streamed by viewers
- Vorhaus projected that by 2024, 920 million people will watch live games.
- Apart from games and education, Breaking news live stream is one of the most watched live streaming video
Types of Live Streaming Users:
Live streaming is a powerful tool and it has evolved as time moves. Over the years we have come across different stages of live streaming and the current year has been a golden age, as the viewers are booming up.
According to ericsson, live streaming is based out on different set of users and their usage,
These users are differentiated into :
- Light users- less than average users who access less streaming services,
- Power users– users who access more ways to live streaming
- Social media users- social media users who access live streaming through the platform
- Video-centric users- users who use video streaming on a regular basis
- Browser centric users- users who use browsers for at least a week
- Utility users- users who use emails, voice calls for basic needs
Live Streaming Trends in 2024
Live streaming has been very popular this year with many top and new businesses adapting to it. Some of the popular industry and trends that got special attention in 2023 are mentioned below:
1. Gaming:
- During lockdown, gamers pushed boundaries and communicated online through platforms like twitch and youtube. Esports or internet sports is a new term that got coined and the world is adapting to it.
- As live streaming is bringing more viewership and earnings, the NBA has brought in a streaming option to broadcast their games live.
- According to Softjourn, the recent study states that the viewership has increased, and predicted to do more in the future.
2. Education:
- Live streaming was a problem solver for student during covid times and its enriched features like live webinars, live chat and Q&A has empowered students to solve queries
- M-learning i.e., mobile learning has evolved much among students for attending online classes.
3. Retail industry:
- The world’s most popular fashion brands are using live streaming with models and fashion designers explaining about products to bring in the consumers and to draw more new viewers.
- China generated a whopping 423$ billion in e-commerce sales, Shoeby, a dutch fashion brand built their own website to increase sales and created their own live shopping platform.
4. Healthcare:
During lockdown, most of the doctors were able to reach out patients though live streaming platforms and as of now they are very useful for patients to sort out medicinal queries and doubts.
5. Customer support:
- Live customer support is a quintessential when it comes to the competitive business world, most of the in-house support consumes more time and live support through live streaming is an aid to all of them.
- Support team can easily reflect on customers’ problems and sort them remotely rather than customers visiting support centers.
Conclusion:
Regardless of the trends, the live streaming market is an irreplaceable subject in the upcoming years and the ones who adapt to it with the right live streaming platform will reach heights and some of our suggestions to live streaming platforms are OnTheFly, Restream, and Twitch. Research and find the suitable platform for your business and step into a brighter future.