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In the last two months, the popularity of live streaming and the number of newly appeared broadcasting platforms have skyrocketed. This unexpected interest in live streams is caused by coronavirus and quarantine. People have to avoid public places and direct social contacts, and of course, they have to stay at home.
If not so long ago, we could all go to concerts, museums, and art galleries now we cannot enjoy all those things. So the only available kind of entertainment we all have is the high speed Internet connection and everything it offers. And that is exactly when live streams become handy.
They are a perfect alternative to real events and real-life saviours who do not let us get extremely bored.
The time spent in isolation at home can be quite depressing but on the other hand it grants all people a great opportunity to learn something new or to enjoy usual things in an unusual way.
For example many musicians and singers are temporarily left without their jobs, opera houses and theaters cannot give any performances right now.
But why not broadcast a performance or a concert? And that is exactly what New York`s Metropolitan Opera. It is an online music festival enjoyed by musicians and fans. The musicians who manage this digital event sell tickets online for $20 each and offer high-quality live streams of a concert for this price.
Do businesses need live streaming platforms?
Real Time Live Stream is a very promising industry that can bring a decent income to business owners who consider building their own platform. Just take a look at the statistics below!
One major advantage of live streaming is that you can find your audience that will like the exclusive content you are sharing. It is possible to broadcast literally everything. We have explored these business models and discovered that the most popular types of live streams are:
- Concerts and various music performances (opera, musical, DJ sets, etc.);
- Sport events (different matches and competitions);
- Theater performances;
- Advice from specialists in different spheres of life;
- Online tours (in museums, galleries, historical places, etc.);
- Cooking lessons;
- Educational lectures.
And this list can be extended further. As you understand the possibilities for businesses are endless. Even the companies that at a first sight do not need to broadcast anything, may actually benefit from live video streams. Sometimes business opportunities are just not so obvious.
Let’s take Chinese company called Joyoung. They are a leading manufacturers of kitchen appliances and as many other enterprises they experienced hard times this year.
When the outbreak of coronavirus started in China and all companies had to be temporarily closed, Joyoung came with an awesome idea that afterwards boosted their business.
This company started broadcasting the testing of various kitchen gadgets and demonstrating how helpful they can be in quarantine.
It was a brilliant idea because many people were locked in houses and had to cook. As a result, Joyoung’s sales increased drastically due to live streaming practice. This example demonstrates that live streaming can be a powerful tool if used correctly in business.
Have your own live streaming platform in mind?
We can help you shape your idea and build highly functional and profitable solution
Can video streaming services be profitable?
Do you still have doubts about whether creating a broadcasting platform is a good idea that can lead to success and income? Then you should definitely take a look at some great examples and see how they manage to generate income.
YouTube live
You’ve probably heard about this popular platform in video streaming industry and know how huge its active audience is. YouTube live incorporates advanced analytics and a number of services like chatting and a variety of tools.
To make money on online video platform YouTube live all you need to do is to broadcast something interesting and that’s all. You will be paid for advertising and for the number of stream viewers ($2 per 100 people).
Twitch
Not all platforms work like YouTube live. Some of them like Twitch offer their viewers to buy a subscription. Such an approach is more reliable and better for a business.
Twitch is a famous interactive live streaming platform that even has no annoying ads within it. Twitch allows all users to watch whatever video they like directly from their console. While the basic account is free, the users who would like to enjoy turbo accounts should pay $4.99 monthly.
Upstream
This is one more good example of a broadcasting solution. It lets all users to live stream their important live events or online shows. It is mostly used by marketing and other teams and it hosts 2+ million videos per month. Upstream offers a lot of useful features and also fast and effective online support. To use this live streaming platform users should be ready to pay $99 per month.
To sum it up
Live videos streaming is a great niche to invest in. It grants a business many new opportunities and can continue to bring profit independently of circumstances.
Live streams give people a feeling of presence and help them forget about social distancing for a moment. Thanks to high audio and video quality, people can enjoy the performance, music, or wise advice shared by professionals.
Live streaming became an important part of our lives during the pandemic. It let us feel connected to each other without leaving our rooms.
Connecting to the world is what video broadcasting is about, and that is the main reason why it will keep getting more and more popular even after the quarantine.