Still posting quirky photos on Facebook? Tweeting yet more wordplay? Wake me when it’s over because right now it’s all about Live Streaming. You hear that buzz? That’s thanks to apps like Periscope and Meerkat.
Four months after its launch Periscope can already boast 10 million customers. The user engagement and adoption for this form of Social Networking is totally for real, with Meerkat kick starting the concept and Periscope (which has clearly taken over) jumping on in.
The big question, of course: How important is all this to Marketers? Well, let’s look at the numbers. According to OOYALA’s Global Video Index, time spent watching video on mobile devices increased 160% year-over-year in Q4 2013. By 2019 more video viewers will watch an average of 21 hours per month on their devices, up from 12.7 hours in 2013.
Instagram and Vine let people record short videos and post them for later viewing. Periscope lets you look at the world through others’ eyes, right now. It’s like a news feed of real time videos where you can see what your friends – or strangers — are experiencing at that very moment anywhere in the world. Twitter was quick to spot this disruption and bought Periscope in February 2015, before it was launched.
Periscope celebrated their exponential growth on August 2, 2015—when they reached 10 million active users— with this Medium post in which Kayvon Beykpour’s (CEO, Periscope) claims 40 years of live stream watch time daily. That’s sure to become a new metric: live stream watch time (LSWT).
Some brands have been early adopters, learning as they go. Some recent examples:
Spend an afternoon browsing Periscope and Meerkat feeds and it’s obvious that 1. This disrupter is in its infancy and 2. It is eminently exploitable. The trick will be – as it is in any up to date approach to digital content marketing – making the live broadcasts relevant, interesting, exciting, worth looking at. Serve up the equivalent of cheesy TV ads and your brand will fall into a black hole. But provide something of value – there’s no telling where this can go.