Live streaming certainly isn’t a new technology. Even in the 00s, people around the world were tapping into live streams of others broadcasting content, such as sports on their TVs. It’s far more sophisticated now with the uptake of incredible new platforms and complementary tech helping to bolster the industry greatly.
Earlier this year, it was estimated that the global live streaming industry will climb to being worth over $2.6 billion by the start of the next decade, driven by increases in mobile and internet users. Of course, one of the major nations for this is India, where so many grand live-streaming products are also now coming to the fore.
Transforming it from viewing live to playing live
Over the last few years, situations changes drastically for just about everyone around the world, driving people en masse to online spaces for human connections. Rather than forums or in-app chats, live streaming platforms offered real-time authentic engagement with others who were either entertainers or like-minded. The major beneficiary of this was Twitch, which has since exploded from a mostly gaming-focused platform to one with a tremendous amount of variety of live streamers. The social media live options like Facebook Live and Instagram Live Stories have also done well in the past, and now TikTok LIVE is a major player.
All of these experiences are viewing experiences, with the exception of the odd ability to input some chat or perhaps join the live streamer in the activity that they’re performing. It takes a sizeable effort to transform live streaming from a passive to an active activity, but with the right complementary tech, it’s been demonstrated to be a popular and engaging effort. The prime example of this is at the live casino. With specialised software for the user and in the studio, optical character recognition, and a game control unit, table games and game shows can be bet on in real-time. The leading creations right now are Live Teen Patti, Live Cricket Roulette, and Live Fan Tan.
Bolstering the live sports streaming experience
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Live streaming sports is one of the oldest applications of the technology, whether warranted or not. Many tech firms are working on ways to make watching live all the more immersive and informative. It could be argued that live sports don’t need an upgrade. After all, we can now return to the platform debate between Prime Video and Netflix India because Disney+Hotstar failed to retain its IPL live digital streaming rights. Still, there’s a lot of work being put into making live sports viewing even more enticing.
One incredible piece of technology bringing forth the future of live sports streaming is Multiview. Not only does it use multiple cameras to allow viewers to pick their viewing angle, but it gives all of the angles on replays for major events. The Hong Kong Jockey Club is working on providing a whole heap of live stats to streams in the form of customisable and selectable overlays within video players.
Shop in the moment from your sofa
Alibaba, owned by one of the world’s richest men, became even more of a powerhouse in 2016 when it struck gold with the inception of live shopping events in China. Making billions on top of billions of dollars in a matter of minutes, live shopping is now the way to shop in the massive market. As a result, many businesses in other markets are looking for ways to cash in on what looks to be an inevitable trend to come.
China has an incredibly well-developed influencer economy, mobile usage is off the charts, and aspects like social media are incredibly centralised – predominantly to WeChat. In markets like Western Europe, the US, and India, live shopping has yet to take off properly. That may change soon, though. The experience powered by live streaming, real-time purchases, and chat functions is currently being tested by TikTok and eBay, which are very accessible beyond China.
Live streaming continues to go from strength to strength, being an even more powerful technology with more advanced and interactive options. Given its popularity, it seems inevitable that even greater innovations are on the way in the coming years.