Broken down by age group, millennials are the most likely to watch and create live streaming video. A November 2016 UBS Evidence Lab study found that 63% of US internet users ages 18 to 34 watched live video. The same study found that 53% of 13- to 17-year-olds watched live video, followed by 32% of 35- to 54-year-olds and just 12% of 55+ year-olds.
Not surprisingly, 42% of 18- to 34-year-olds have created live video. Marketers, in turn, are paying attention. “Many marketers are experimenting with live video, even if they’re not yet sure how or if they’ll be able to monetize it,” said Paul Verna, analyst and author. Researchers found equal amounts interest: 17% of agency decision-makers and 19% of marketers said they definitely planned to invest in live video in the next six months. Perhaps more surprisingly, 12% of agencies and 21% of marketers said they definitely wouldn’t. And in each group, a clear majority of respondents were on the fence with about 65% stating they "might".
The data points to the challenges of using live video for marketing purposes—or even the challenge of getting started. It should be noted, however, that it took marketers years to embrace YouTube, Facebook and Twitter, largely for the same reasons that make live video, in its current incarnation, problematic. As social media platforms, brands, publishers, media companies and consumers get more used to live video and figure out more effective ways of using it, a clearer case for monetization is likely to emerge.
The use of Live-Alike Video is also emerging. Live-Alike Video is pre-recorded video that has that "feel" of Live Video, but with the benefits of editing.
Contact us at Caney Creek Studio for a free consultation on how you can use video in your marketing.
Jay & Julia Taylor own and operate Caney Creek Studio. Caney Creek Studio is a video production, digital marketing, and social media management agency.