Here is an excerpt from a recently published article on Techzone360.com entitled, “It’s Time Your Business Jumped on the Live Streaming Bandwagon: Here are Five Reasons Why.” by Chris Knowlton, VP of Wowza Media Systems. Wowza is a leading software developer specializing in streaming media server technology. According to Knowlton, there is a case to be made for embracing live video streaming as it has unique advantages over pre-recorded on-demand video streaming. The 5 key reasons are:
1. Streaming extends reach – Streaming a live event provides an opportunity to connect in new ways, whether we are talking about sports matches, church services, concerts, company all-hands meetings, or university lectures. You can reach people who could not otherwise attend in person, which, depending on your goals and business model, typically translates either to positive membership impacts or new customers.
2. Streaming boosts engagement – Live events are compelling for users. There is an immediacy to them that can’t be matched with on-demand viewing, especially for live games. According to Ooyala, the average live-streamed video is viewed as much as 10 times longer than on-demand. Social media only bolsters the engagement, making us part of a larger real-time conversation around the event.
3. The live experience has drastically improved – Live streaming now provides a better user experience than ever. Over the last 15 years, we’ve gone from low-resolution, stuttering, postage-stamp sized viewing experiences on desktop computer monitors to HD (and even Ultra HD) streaming on computer screens, mobile devices, and connected TVs. Thanks to increasing bandwidth, more-scalable Internet infrastructures, improved streaming technologies, and a plethora of devices that support HD playback, our streaming experiences now can rival or surpass those of traditional television delivery.
4. Cost is no longer an excuse – The prices for computer hardware, storage, and bandwidth continue to drop. Cloud-based infrastructures and services make streaming even more affordable for many people, providing the flexible low-cost computing and scalability you need, and for discrete events, only when you need it. As an example, you can stream an hour of high-quality video to 100 users for about the price of a latte.
5. Higher quality is now possible with less complexity – In just minutes, you can be online and streaming live events globally. The more advanced your requirements, the longer the first-time setup may take, but streaming products and services continue to abstract away more of the complexities and reduce the learning curves.
Live streaming has come a long way, and it will only continue to advance; however businesses that continue to wait for the next best thing will likely find themselves playing catch up to those embracing it today. We’ll likely see these types of battles ensue across industries in the years to come.
I would add to this that a live-streamed event that is archived and available for immediate viewing is the best of both worlds. The fact that a video was streamed live gives it a sense of authenticity that a pre-recorded video can’t compete with. We have seen viewership of a live event increase by a factor of 10 within the first week after its initial broadcast!
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