In the short space of time live streaming has been with us the industry has grown to be one of the most lucrative ones within the video broadcast industry. The market is expected to reach over US$ 247 billion by 2027 according to Market Research Future.
While social media platforms like Instagram, Facebook, YouTube and Twitch are looking to gain a major share in the market with Live videos offered on each of these platforms, in this article we explain how having your own OTT channel to broadcast your live video is a lucrative option.
Before moving forward, one might think that having your own OTT channel could be a major challenge in terms of technology. But there’s no reason to fear that as the team at Enveu is equipped to solve your OTT needs.
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Here are the key benefits of live streaming:
Greater audience potential
Physical events have a limited space to offer. And in the ‘new normal’ that space is reduced further because of social distancing. Your live stream can reach a much larger audience from varied geographies. That’s a win to start with.
This is one of the plusses of a live stream over a recorded video. Whether it’s stand-up comedy or edutainment videos, the viewers can interact with the content creator in real-time. It’s always better for a stand-up comedian to have a crowd respond to the content and similarly if one’s in the lucrative and popular edtech space, it’s imperative to be live to have that two-way conversation.
Ease and convenience
Yes, we mentioned that Enveu will take care of the tech side of it, but even then, we want to state how live streaming is easier than putting together a recorded event. Yes, you may have the odd technical glitch, but trust us the authenticity of a live event is way more than anything that’s recorded.
Using analytics, you can learn the geographies your views are coming from. With that in place, one can try boosting interactivity further by engaging viewers of a certain geography with content for them. For example, if you see many users coming in from Quebec, you can interact with them in French to build engagement.
When people tune in to a live stream, they usually do so with undivided attention. This makes your content highly appealing for brands and advertisers, which means you’re bringing in the dollars to your bank account!
Other ways of earning money could also be charging people to view the live stream before making it available to subscribers of your OTT channel.
Thirdly, when you have your own OTT channel, you don’t have to split costs with a social media platform like Facebook or YouTube for example.
The time taken for you to stream a 10-minute video will be 10-minutes! Once you’re live, you’re live and there’s no scope for retakes, so the time your content is live is the time you’re taking to broadcast your content.
Yes, you need the tech in place, and we’re reiterating the fact that Enveu will provide that for you.
It’s a growing business
As mentioned earlier, the market is expected to reach close to US$ 250 billion by 2027, at a growth rate of close to 30%. We are seeing live events like live sport, and a few events, but other than that there’s not much else in the market. In spaces like stand-up comedy, you can enter the market early and reap the benefits.
These were just seven benefits the live streaming industry provides. Get in touch with us and we’d be happy to discuss the in-depth benefits of the same.