How live streaming technologies are shaping the future of Digital media?
Until a year ago, we could associate the word ‘live stream’ with gamers, sports, or a mode for some celebrities/ influencers trying to engage with the audience. But only after the COVID 19 pandemic hit, we could all clearly notice
the rise in live streaming updates on our feed. Each kind of industry is trying to use live content as a mode for them to communicate with their audience more. Live Stream Technology is how much closer we can bring people to reality right now. It is a given that we see tremendous viewership on live content, because of the excitement and Quality of Experience (QoE) it gives to the audience. With the rise in demand for live stream content, we can also see an uptick in the number of OTT platforms coming up in the market. This in turn is helping content creators build their careers and make profits. It has led to more demand for local content as well. So many local talents have tried to make their way in the clutter of content creators with the help of this unique technology, now a part of almost every media & entertainment app. This life-like digital technology has enabled new modes of revenue drivers for our technologically advanced generation. Even brands are more encouraged to form strategic partnerships or even advertise on these streams to get more eyeballs.
The streaming business is capital intensive and requires long-term commitment as profitability depends on the sustainability of a monetizable subscriber base. To maintain that base and grow faster, these platforms are running in the race to add more interactive features to make any live stream look life-like. It is a challenging process to develop this tech because a lot of its success is based on the audience’s capability to adapt to these features. We see so many new features coming up on our favorite social media and ott channels regularly. Yet a lot of them go unnoticed by their respective set of demographics. But if it hits the right consumer behavior group, these challenges are worth the rewards. Live streaming generates huge concurrent viewership. Forward-thinking organizations/ brands are taking advantage of this high concurrency rate to enhance the personalization of their marketing targets, streamline distribution, and improve the way content indexing is completed. With the rise of artificial intelligence and machine learning, data gained from live streaming will soon be able to go way beyond repetitive automation and move toward dynamic intelligence.