How livestreaming is bringing people together in times of social distancing

Even as the COVID-19 sets off a financial contagion in the global economy with stock markets in free-fall and the OECD predicting a global recession, stocks of tech companies using livestreaming features are soaring. As social-distancing becomes the norm, platforms and apps that offer live-streaming services are witnessing an unprecedented explosion in their popularity - and may even lead to an industry-wide reshuffle of the tech world that could see livestreaming become the defining feature of social media.

To get an idea of what this could mean, look no further than China, long the epicentre of the crisis. According to Business Insider, the Chinese live-streaming industry is booming, with the number of users projected to reach 526 million in 2020 due to the shift in consumer behaviour that the pandemic has spurred.

This shift is understandable: livestreaming brings to social media what other features have not been able to achieve – truly immersive real-time human interaction. At a time when many countries are in lockdown, people are turning to such apps to maintain a sense of community, albeit virtually. By providing access to video streams from the world over and enabling real-time communication, livestreaming has turned into an indispensable tool for alleviating loneliness and boredom while in isolation.

Most recently, Facebook, Twitter and Youtube’s livestreaming features were being mobilized by renowned organisations such as the Berlin Philharmonic and pop-stars like Chris Martin of Coldplay fame, to provide their fans a musical relief during this time. These are only a few examples of the uptake of livestreaming platforms during the Coronavirus pandemic, giving an additional boost to an industry that has already been growing in importance for years.

Trend-setters, old and new – Yubo and Twitch

Beyond the traditional social media apps such as Facebook and Instagram, there is a host of other platforms using the livestreaming feature to generate organic engagement online and allow ordinary people, social media marketers, and influencers to build a relationship with their viewers.

Competing in the mushrooming market are platforms that are carving a niche for themselves by targeting different age groups or curating their livestream content for specific audiences. French start-up Yubo and California-based Twitch are examples of platforms that have made a mark for themselves by making video streaming the gem of their business models.

A social media app, Yubo is dedicated to teens, a key group craving for entertainment and social contact. Its unique selling point is a livestreaming feature that allows users to join video streams they are interested in and make new friends from their vicinity. With schools and universities shut due to the Coronavirus epidemic, Yubo’s mix of video and live chat is developing into one of the primary avenues for making new friends and sharing the common situation children and teens stuck at home are finding themselves in.

It allows users to play online games together, collaborate on school projects, engage in conversation and overall feel a sense of belonging – especially at a time when depression and loneliness are on the rise in this age group. Through an age-gating technology, Yubo guarantees that its users can only access age-appropriate content, thereby providing a safe space for mutual exchange. Since its launch in 2015, the app has garnered a strong user base of more than 20 million people worldwide. Its success highlights that the Gen-Z values livestreaming as a feature of social media more than the static interaction of merely posting pictures.

For those looking to play online games or pick up some new skills during times of forced isolation, websites like Twitch are also an option. Acquired by Amazon in 2014, Twitch brings together the best of both social-media and broadcasting platforms into a single site or application.

Originally started as a video-games streaming app, it has now expanded to include dedicated streams for artworks, cooking shows, panel discussions as well as musical concerts. In just three days after the Coronavirus-fuelled shut down of public spaces in parts of the United States, Twitch analytics reported a 15% increase in the hours streamed on their platform. The popularity of the digital streaming app is evident from the fact that it is steadily gaining traction with more than 15 million users logging in daily.

Livestreaming – the new normal

If these two examples are a yardstick for a systemic market shift, then expect almost every social media platform to be introducing a livestreaming feature in the near future – if only to generate both higher traffic and revenues than any other marketing technique. Twitter seems to be ahead of the curve with its recent announcement to be adding new features to its video streaming function, such as allowing multiple users to join in a live stream as ‘audio-guests’.

It will also be interesting to see is how such traditional social media sites will wield their livestreaming feature to distinguish themselves from trend-setting platforms like Yubo and Twitch in this competitive segment of the app market.

But the potential for livestreaming are endless, and go beyond making friends and entertainment to include education. Indeed, a variety of sectors over the world have made livestreaming the new normal in dealing with the corona pandemic. Whether it is in the context of the home office, updates from international health organizations or universities, they have all used livestreaming to continue their daily activities in an efficient manner.

As a result, the tech companies which rely on livestreaming features for their revenues have not only managed to isolate themselves from the current economic crisis, but are likely to be thriving. The uptake of such platforms by millions of digital natives is likely to continue even after the pandemic, encouraging tech giants to keep coming up with innovative ways to use this feature or better their existing user experiences.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.