Real-time engagement through live streaming is booming exponentially and is inevitable for the future.
Marketers, entrepreneurs and content creators are utilising this wonderful tool to avoid unwanted costs and increase viewership and awareness of their businesses.
But only a few companies are at the top of the scale as they catch up and act according to the streaming trends 2024. If you want to be among the top live streaming creators, check out the top live streaming trends 2024 listed below
Table of Contents
What is Live Streaming?
Live streaming is the transmission of live video or audio content via a platform to viewers over the internet.
Live streaming brings more engagement, viewership and credibility to companies and creatives looking to build a high-value business.
Benefits of Live Streaming For Marketers
Live streaming offers numerous advantages such as higher viewer ratings and cost reductions, and we have listed some of them here with industry-specific data:
1. Revenue:
In 2023, 19.2% of retail e-commerce sales in China will be generated via live streaming
2. Shopping:
- Tiktok competitor Douyin has driven around 40% of its users to shop via livestreaming.
- Livestream commerce offers brands more marketing opportunities to engage with their products and interact easily.
3. Predictions:
Although the US is not there yet when it comes to livestreaming shopping, one study predicts that around $130.10 billion in sales will be made by 2026 (Insider Intelligence forecast).
Reaching your Target Audiences with Live Streaming:
Live streaming is one of the easiest ways to reach your target audience. It brings you closer to your target audience than any other source. Check out the lists below to learn how to reach your target audience.
1. Geo targeting:
- Some of the live streaming platforms have features that allow you to target a specific region around the world instead of advertising anywhere in the world.
- This helps you to focus on your customers, fans and viewers in a specific region that you want to reach.
2. Choosing right Topics:
It’s important to work with Google and create compelling SEO-focused keywords as competition in the marketplace gets tougher, and target your audience with current trends.
3. Tips:
Don’t overdo it with topics that have nothing to do with your live streaming content.
4. Marketing:
Email marketing is one tool you can use to engage your viewers personally. You can also send them a short introduction to your live streaming event.
This allows you to further develop the connection with your audience. The above options have proven to be extremely productive. Use your creative side to spice it up and pick up more video streaming trends for marketing purposes.
⚡️ Read Also: 10+ Best Live Streaming Platforms for 2024 (Free & Paid) 🌟
Statistics for Live Streaming Platforms
- According to Conviva, live streams have an estimated average viewing time of 24 minutes
- A study conducted by Intellectual Cunning states that live streaming has boosted the economy of China’s shoppers by 320 million and that among individuals, nearly 45% of the country’s digital purchases are made via live stream.
- The prominent Streamlabs states that more than 8 billion streaming hours were streamed by viewers in the first quarter of 2022.
- Vorhaus predicts that 920 million people will watch live games by 2024.
- Alongside gaming and education, the live stream of Breaking News is one of the most watched live streaming videos.
Types of Live Streaming Users:
Live streaming is a powerful tool that has evolved over time. Over the years, we have seen different stages of live streaming and the current year is a golden age as viewership is growing by leaps and bounds.
According to ericsson, live streaming is based on different user groups and their usage,
These users are divided into:
- Light users – less than average users who use fewer streaming services
- Power users– users who utilise more live streaming options
- Social media users – social media users who access live streaming via the platform
- Video-centric users – users who regularly use video streaming
- Browser-centric users – users who use a browser for at least a week
- Utility users – users who use email and voice calls for basic needs
Live Streaming Trends in 2024
Live streaming has become very popular this year and many top and new companies have adapted to it. Some of the popular live streaming trends that have received special attention in 2024 are listed below:
1. Gaming:
- During the lockdown, gamers have gone beyond their limits and exchanged ideas online via platforms such as Twitch and YouTube. Esports or internet sports is a new term that has been coined and the world is adapting to it.
- As live streaming brings in more viewers and revenue, the NBA has introduced a streaming option to broadcast their games live.
- According to a recent study by Softjourn, viewership has increased and is predicted to increase even more in the future.
2. Education:
- Live streaming was a problem solver for students in the olden days and its advanced features like live webinars, live chat and Q&A have enabled students to solve issues
- M-learning, i.e. mobile learning, has become popular among students for taking live online courses.
3. Retail industry:
- The world’s most popular fashion brands are using live streaming with models and fashion designers explaining their products to attract consumers and gain more new viewers.
- In China, a whopping 423 billion dollars were generated in e-commerce. Shoeby, a Dutch fashion brand, built its own website to increase sales and created its own live shopping platform.
4. Healthcare:
During the lockdown, most doctors were able to reach their patients via live streaming platforms. These platforms are very useful for patients to clarify medical questions and doubts.
5. Customer support:
- Live customer support is critical in the competitive business world. Most internal customer support agents need more time, and live support via live streaming is a great help to them all.
- The support team can easily deal with customers’ issues and solve them remotely instead of customers visiting a support center.
Conclusion
Regardless of the trends, the live streaming market is an irreplaceable topic in the coming years and those who adapt to it with the right live streaming platform will achieve great success.