The introduction of live streaming technology has discovered the potential of real-time interaction for businesses. The instant engagement created through live video streaming has made it popular among global netizens.
Live streaming has become an integral part of brand promotion activities. From Facebook to Twitch, educational sector to the fitness world, live video streaming is proved to be the best towards improving conversion rate.
Not only the content creators, businesses are also in the same race and using live streaming products & services promotions.
Several advantages of live streaming include website traffic generation, improved brand visibility, creating a loyal customer base, and lead conversations. All of which are constantly putting live streaming as the most valued marketing approach for businesses all over the world.
In this blog, we are going to discuss top live video streaming trends for 2023.
According to Statista, in year 2019, the US had recorded total live video viewers as 126.7 million, which was increased to 150 million in 2023 and expected to reach 164 million by 2024.
After the emergence of COVID19, businesses were forced to close their offline marketing activities and found an alternative solution to stream online. Live streaming is luxurious and drives direct leads, but it needs to be done in the right way to give maximum impact. Simply just going live and discussing some random topics will not help.
Here, we have some of the current trends for live video streaming, which are adopted by businesses and proved to be effective in driving engagement.
- Ultra-low latency streaming –
The emergence of event streaming like sports streaming, social media streaming, health and fitness classes, and educational sessions has introduced the real-time need for low latency streaming.
For delivering the best video quality and lag-free streaming experience, VOD and live streaming service providers are exploring 5G streaming services.
Live streaming service providers like Muvi Live have upscaled the streaming services through multi-bitrate streaming. It has enabled automated scaling of streaming depending on the network status.
- Streaming data analytics –
Real-time data analytics is making it possible for the streaming industry to get an in-depth report on live stream performance.
Starting from evaluating video performance to analyzing the geo-location with the highest attendees, data analytics help in overall business growth.
- Rise of Metaverse –
The introduction of metaverse has revolutionized the streaming user experience. The advanced live streaming platforms have introduced AI, VR, and AR technologies that extend the virtue of online streaming and represent a 3D virtual online session through digital avatars and engaging backgrounds.
The metaverse concept has been hugely anticipated by the online gaming and entertainment industries. The main traction augmented reality got is the volumetric video combined with a 3D world, which has elevated user experience and engagement.
Also read- Importance of Live Streaming in E-learning
- Hybrid Events –
Online streaming has been the key element bridging the gap between customers and businesses. It has introduced a virtual way to modernize events by converting them from traditional to digital platforms.
Be it expanding audience reach to driving the highest revenue, hybrid events have propelled overall business growth. Some notable examples of successful hybrid events are health coaching, Ecommerce, and online consultation.
Implementing live streaming trends into your business, will not only help you in engaging viewers but also outputs lead conversions. Many business industries like online gaming, healthcare, e-commerce, and education have already implemented live streaming trends and are getting the desired outcome for years now.
To help businesses excel in live streaming, live streaming service provider Muvi Live has developed enterprise-grade ultra-low latency live video streaming services.
To know more about Muvi Live’s streaming services, kindly take a 14-day free trial of Muvi Live CMS and explore how it is helping businesses in elevating their live streaming services.