There is no denying that the live events industry was hit the hardest by the COVID-19 pandemic. Since March, event organizers have been unable to host events at normal capacity. Some have begun to host small events with health and safety requirements in place while others have stuck to virtual events. We surveyed a group of event coordinators to get the pulse on the state of the live events industry.
Live streaming has found its way into the music industry and it is here to stay. Whether hosting a completely virtual event or a hybrid event, live streaming offers a way to engage with a larger audience and provides opportunities for additional revenue. Many musicians, producers, and DJ’s have begun to host live streams in much larger numbers. Twitch saw a 385% year over year growth in their Music & Performing Arts content category. The number of hours watched grew from 3.6M in April 2019 to 17M in April 2020. For the music industry as a whole, that is an indicator that live streaming is in high demand. In addition to performers, music venues have also implemented live streaming. Whether hosting a show with no audience or throwing a hybrid event, live streaming can be a powerful marketing tool and an additional revenue stream for venue owners.
Enhance The Visual Experience of Your Live Stream There's no denying that live streaming is exploding in popularity. StreamElements and Arsenal.gg reported that the live streaming sector grew a full 45% from March to April, 2020. Not only are more people watching, but more people are hosting as well.
If you want to host a more professional-looking, high-quality stream then learning how to use OBS is a must. OBS stands for Open Broadcast Software. It’s a free tool for live streaming and video recording. It can be used with PromoStream to create more engaging ticketed virtual events.
The Timeline of How We Got To Where We Are Today In order to fully understand how live streaming software has become the giant that it is, it's important to take a look back into the development and history of streaming. Taking the time machine back to September 7th of 1927, Philo T. Farnsworth invented an instrument that “generated an electronic beam, striking phosphorescent screen and adjusted with electromagnetic coils" which is known today as the first cathode ray tube television
Why Live Streaming is Taking Over Screen time has rocketed by 47 percent on smartphones and tablets. We are connected to the internet now more than ever, but at what cost?! It's clear that this trend has taken a toll on traditional cable companies. According to a study done by Survey Monkey, “60% of those that use both cable or satellite AND streaming services say they’re thinking of dumping cable/satellite in the next 12 months.” Even with compelling service bundles created by cable companies like Spectrum or Time Warner, customers are "cutting the cord" and choosing to put their money towards live and pre-recorded video streaming services.
How Live Streaming Has Consumers Increasing Their Digital Footprint The world has changed its habits because of COVID-19, leading people to become more active digitally. With the increase in digital foot traffic, it can become easier to incorporate and promote new technologies like virtual reality and live streaming. According to Lindsay Lehr from America’s Market Intelligence, “We can expect a boost in everything right now. Some of this consumer behavior being introduced right now will stick and cause sustained growth through this year and next year.”A shift has taken place in the way people view video streaming platforms and technology. As it used to be seen as a convenience, live video technology has become a necessity. Platforms like Zoom and Skype have gained popularity for live streaming events, conferences, meetings, sports classes, and more. Unfortunately, according to CNBC, governments were “urging Netflix, YouTube and other streaming giants to restrict HD viewing to ease the strain on the internet due to unprecedented usage amid the COVID-19 pandemic." Spinning the surprising narrative into something greater, those considering making money by live streaming are now more than ever encouraged to do so.
Learn About The Industry's Shift To Virtual Live Streaming It started with the delay of one of the biggest festivals in the world. Then, while the world was just barely getting over the shock of Coachella being moved to October, Live Nation and AEG suspended all concerts for at least the month of March. As the months go on, there is still no exact date when concerts and live music events could return.