Live streaming is becoming increasingly popular. For many businesses it is now the mainstream channel to progress given the social distancing norms prevailed upon us due to the COVID-19 pandemic. Live streaming allows small businesses to connect with their audiences without physical presence. Advertisers and PR professionals are establishing innovative ways to engage with the audiences online. The number of live audiences across the world is growing tremendously. The enthusiasm around the phenomenon and the eager interest by both businesses and consumers, it is inevitable to understand the global perspective on live streaming and have a deeper understanding of the important elements that influence it.
The Live Audience
According to a 2018 research by Interactive Advertising Bureau (IAB), around 67% of consumers globally have streamed live content and 52% of them opted for free live streaming instead of subscription-based solutions. Presumably, the audience base for live streaming has increased significantly this year due to the coronavirus. The increase in sales of smartphones gives way to the idea that the live streaming trend will only grow.
Live audiences are selective in the content before deciding on live streaming. The popular choices are events which they cannot enjoy in person like music concerts and sports events. Experts speculate that November-December 2020 will witness the highest number of live streaming owing to the FIFA 2020 World Cup.
These statistics should compel businesses to explore live streaming options and creative strategies in this moment.
Medium Of Live Streaming
Undoubtedly, social platforms like Facebook, YouTube, Periscope, and Instagram are popular amongst audiences to stream live videos. Social platforms are easily accessible and not all live content are subscription-based.
However, with live streaming becoming the center of attention in the digital industry, businesses are now leaning towards professional live streaming services like technological support and infrastructure. While not exponential, the growth of live streaming solutions is notable. Using these live streaming solutions, a business can upload their content on their own website instead of on social media. Audiences can live stream content on the website of the business. By this strategy, businesses aim to establish an individuality in the world of digital content and create a brand loyalty.
Legal Insights Into Live Streaming
Legal issues surrounding live streaming are complex. Many laws are in the making and still debated. New conflicts that indicate legal interference arise just as fast as the consumption of live streaming content. Licenses, data breach, privacy, suitability of content, local laws, and the age qualifications of the users – all pose legal threats to a live streaming company. You might think that there is no harm in live streaming an event you’re attending but, unknowingly, you may have already entered a legal minefield. Video recording and live streaming is prohibited by many organizers. It is important for an individual and businesses to understand the legal issues that orbit the world of live streaming.
Two legal issues have emerged time and again – proprietorship of content and quality of content. Live streaming in association with a provider may be based on terms and conditions that don’t allow exclusive proprietary rights to the business. Another possibility is the agreed rights of the provider to run ads during your livestream. Quality of content refers to content that breaches local or national broadcasting laws. Breach of such laws can result in lawsuits, heavy fines, and extensive punishments.
The world of live streaming is packed with challenges, whether it is to determine the content, the strategy, the marketing techniques, or the legalities. Investment in technology may be the best decision considering that this is and will be the mainstream medium of engaging with audiences and grow the businesses.