There is a lot to take in when you start out in the field of professional live video streaming. The problem is, it is not always easy to locate reliable reviews and comparisons of high-quality streaming services. It is challenging to stay updated because these platforms are always changing.
With a current valuation of over $500 billion, the live-streaming industry is set to reach a staggering $1.9 trillion by 2030. There are more than 800,000 titles accessible in the US alone, and the number of streaming platforms is constantly increasing.
Live Streaming Platforms: Current Market Landscape
The live streaming industry has experienced significant growth in recent years, with platforms like Twitch and YouTube Live dominating the global market. According to Streams Charts, the global live streaming landscape in the first quarter of 2023 reveals some interesting trends.
Twitch and YouTube Live: The Powerhouses
Twitch, a well-known platform among gamers, continues to be the leader in terms of hours watched in the gaming sector. However, YouTube Live has emerged as the most watched platform across all categories. In fact, YouTube Live witnessed a remarkable 13% growth within just a year. Gaming streams now make up 17% of the total hours watched on YouTube Live, highlighting the increasing popularity of gaming content on the platform.
The current market landscape of live streaming platforms is dominated by Twitch and YouTube Live, with YouTube Live experiencing substantial growth in the gaming sector. While other platforms exist, the leaders in the industry have remained steady in terms of hours watched.
Leveraging Live Streaming Formats: Benefits for IM Campaigns
According to HypeFactory’s experience of campaign launch, live streams deliver higher CTR and CR compared to standard integrations. Why so? Live format facilitates richer content experiences and deeper connection between a streamer and his audience:
- Niche content. Live is a platform that specializes in attracting users with specific interests, making it an excellent means of connecting with a targeted audience who are interested in gaming.
- Loyal users. The community of streamers’ viewers is incredibly loyal, and they are more willing to support the products that the streamers promote. Also, the effectiveness of product advertisements is enhanced since viewers trust the streamer’s judgment.
- Established trust. Live streams provide an opportunity to showcase products in depth and work together with other creators, which boosts community involvement and product exposure.
A Closer Look at Popular Live Streaming Platforms
The advent of widespread live streaming has revolutionized numerous industries. It is changing how we purchase online and linking companies with customers in exciting new ways; it is no longer just about entertainment. Learning the ins and outs of these live-streaming features is worth your time if you are thinking about getting into broadcasting.
YouTube Live
When it comes to gaming streaming services, YouTube Live is massive. With 8.12B views gained in 2023, the platform constitutes 14% of total hours watched from all global streaming platforms. Male 16-64 is a core audience which makes up 30.4% of weekly live stream viewers.
When we looked at the platform’s most popular games in Q1 2023, we saw that Mobile Legends, Minecraft, Grand Theft Auto V, Apex Legends, and League of Legends were the standouts. In terms of gameplay, it appears like YouTube Live is the place to be!
Features
- Making money through ads is mostly for big shots with lots of followers and views.
- Security-wise, there’s not much to write home about.
- Consumers love it.
- And since it’s backed by Google, you know it’s got some muscle behind it.
- Sharing videos is a breeze.
- You can slap those videos onto other websites without breaking a sweat.
- Just don’t expect any fancy branding options.
Pros
- You can get on for free.
- Most people already hang out on YouTube, so your audience will feel right at home.
- Easy to get around, whether you are viewing or watching
- It is easy to add movies.
- Hosting is available both in real-time and whenever you need it.
Cons
- Can not get rid of that YouTube video Do live branding
- There are some things you can not do when you livestream.
- YouTube has a very good copyright system that will quickly take down your video if it has copyrighted music playing in the background. You should be careful about what you share.
- YouTube could have a say in what happens to your videos, especially if you make a lot of money from ads in them.
- The in-stream ads and brand names from other businesses can get in the way.
- Also, be careful—YouTube could add videos from your competitors, which could make your fans leave.
AfreecaTV
In South Korea, Afreeca TV is the most popular platform for live streaming, similar to Twitch in other countries. In comparison to Twitch’s 6.7 million users, AfreecaTV’s 25 million users in South Korea provide a wealth of entertainment, unique emotions, and exposure to different cultures—all without the need for expensive technology or significant cash. In addition, it has both desktop and mobile versions, so you may use it whenever and wherever you like.
People who mostly use the platform? Young men, mostly in their twenties. And in terms of video games, Minecraft is head and shoulders above the competition, with an incredible 57 million hours of viewing time in Q1 2023. However, long-running titles such as StarCraft: Remastered and League of Legends also continue to attract large audiences.
Features
- Get the word out before your stream starts by posting an announcement on social media.
- Use a tracking link that is pinnable in the chat to keep viewers interested, even if it will not be clickable.
- Keep streaming for at least one hour, preferably longer if mutually agreed-upon objectives are involved.
- Make it easy for PC users to join the stream by displaying QR codes onscreen.
- Experience the one-of-a-kind AD Balloon system on Afreeca TV. It is an interactive advertising solution that allows people to eagerly participate in ads to support streamers.
Pros
- Offers diverse content types
- Focuses on user-generated content, fostering a community of content creators.
- Encourages interaction between streamers and viewers through chat, virtual gifts, and live polls.
- Provides live and recorded video without a membership, increasing viewership.
- Features a mobile app for convenient streaming anytime, anywhere.
Cons
- Challenges include language barriers, limited international programming, and lack of quality control due to reliance on user-generated content.
- Monetization challenges for new streamers due to time and competition.
- Lacks advanced search, recommendation algorithms, and tailored content suggestions.
Bigo Live
Bigo Live, the 2016 Southeast Asian streaming phenomenon that became famous all over the world in a flash. With an incredible 2 million active streams, it is presently rocking in 23 languages across 150 countries. The catch, though, is that this platform’s viewership can be somewhat unpredictable. Compared to the prior quarter, Bigo Live’s viewership hours fell 18.5% in Q1 2023. However, that is a common occurrence in the realm of live broadcasting.
Sources: Streams Charts, SimilarWeb (May 2023)
Features
- Live Player Kill (PK): Real-time fights between live streamers. Winner receives most diamonds from viewer gifts.
- Posting in BIGO Bar and Communities: Creators can share photos and movies. Both streamers and viewers can record game parts.
- Bigo Gems and Beans: Digital currency used for gift exchange. Streamers receive beans as gifts, which are converted into real money or diamonds.
Pros
- Streaming video in high quality in real time.
- Simple and easy-to-use user interface.
- Communicate with viewers in real time.
- Virtual gifts and perks are at your fingertips.
- Make a comfortable living.
Cons
- Changing the video quality is not an option.
- There are certain strict guidelines that must be adhered to.
- They do not keep any record of chatting.
Kick
Kick, a promising streaming platform, gained rapid popularity in early 2023 by amassing one million users within a few months of its launch. And they were definitely not silent! During the second quarter of 2023, they achieved a remarkable 167.8 million hours of viewing, and in the third quarter, they surpassed this with an even more impressive 296.84 million hours of viewing.
In what ways is it unique? Kick, on the other hand, is all about providing streamers with more money and far fewer content restrictions than competing platforms. Twitch streamer xQc is just one of many famous people who have taken notice. Kick is taking streaming to the next level!
Source: SimilarWeb (May 2023)
Features
- Widgets (e.g. with installs tracking)
- Banner (in videos and channels’ description)
- Chat-bot messages with a download link
Pros
- Subsidy revenue split: 95/5
- Program for Partners with Higher Discoverability
Cons
- No rules are in place to ensure the platform’s stability.
- There are a lot of issues
Trovo
Trovo averaged 43.6 million monthly hours by April 2022. Not bad? With 15 languages and 200,000 broadcasters, the site is popular. Trovo’s first-quarter 2023 hours watched fell 4.72%. You should not be concerned, since numerous streaming platforms go through similar dips.
How is Trovo different? They are still adjusting creator policies to equalize everyone. The Live Room lets you stream from your phone or PC, and the Video Room saves prior streams for later viewing. Trovo enables streamers to multi-stream across platforms. Trovo pays its top 500 artists but offers similar monetization options.
Sources: Streams Charts, SimilarWeb (May 2023)
Features
- Community Events: Trovo makes it incredibly clear that anyone can attend their community events.
- Treasure Boxes: Streamers can earn more streaming credits by giving away Trovo cash throughout their streams. Even though it is expensive, it is a great way for streamers to gain awareness.
- Shorts: Trovo is now beta testing its own Shorts, which is a part for streamed videos that showcase brief highlights.
Pros
- Less monetization effort needed compared to Twitch
- Discoverability is enhanced using the “New Streamers” filter.
Cons
- However, unlike Twitch, where you receive 100% of donations, you only get to retain 50%.
- A significantly smaller audience than on Twitch
Wrap Up
These days, everyone seems to be streaming something, so it can be difficult to distinguish apart. Improving your streaming skills is essential if you wish to gain recognition as an industry leader, attract more paying customers, and expand your fan following. That necessitates being well-versed in all of your alternatives, considering the benefits and drawbacks, and planning ahead for the impact on your data.
You must have the proper platform when it comes to streaming. The modern market demands nothing less than the finest, most professional-grade streaming features.Unlock the full potential of your streaming ambitions!
Dasha Arzhanik
Influencer Marketing Director, HypeFactory
