If you're wondering, does live streaming merit the time of your business, and what is their future? These significant live-streaming statistics included a few key insights that might assist you in planning your advertising or live video publication strategy for the upcoming years. Read on to see how live video has captivated the globe in the current year of 2022.
The online streaming market has a value of billions of dollars and merely has a prediction to expand. Several estimates, one from Grand View Research, anticipate that the live-streaming sector will grow from $70 billion in 2021 to about $224 billion in 2028. That's a triple rise in seven years!
This expansion is getting driven by increasing demand for live-stream content. Take into account:
63% of persons aged 18 to 34 routinely view live-streaming material (Source: Statista).
Live content receives 27% more minutes of watching duration than video-on-demand content (Source: Conviva).
By 2027, the live-streaming industry will likely exceed $247 billion (Source: Market Research Future).
By 2023, marketers anticipate spending over $100 billion on video content, based on a Forrester report from 2021.
Statistics For General Live Streaming
Let's start with some generic live broadcasting data that tell more regarding the extent of the industry and where it could be leading.
1. Nearly a quarter of the world's watching time gets spent on streaming content
Live programming accounts for 23% of worldwide viewing exposure, with on-demand content accounting for the remaining 77%.
While this demonstrates that live video is currently not as successful as on-demand video, it is still rather astounding and shows how quickly the live-streaming sector has progressed.
2. On-demand content creates 27% more minutes of view count per watching than live content
On-demand video may command a large part of worldwide broadcast time, but as this statistic illustrates, it cannot compete with live video in terms of engagement. The typical user devotes around 25.4 minutes to each viewing session streaming live video versus an average of 19 minutes watching video-on-demand.
3. Since the outbreak, about a third of web users in the US have been viewing more live-streaming
The general level of media engagement has increased since the coronavirus pandemic began. According to a recent poll, 24% of US internet users said they watch more live streaming. This number falls behind other sources to a slight extent. Online clips (YouTube, TikTok, etc.) have grown in popularity by 39%, broadcast TV by 39%, and digital TV by 38%.
4. By 2027, the over-the-globe live-streaming industry seems to surpass $247 billion.
It demonstrates how massive the streaming video sector estimates to grow. Its value will reach about a quarter of a trillion dollars within a few years. According to industry estimations, the CAGR will be 28.1% through the projection period.
Statistics For Live Streaming Platforms
Let's now examine some data regarding the most well-known live-streaming websites, such as Twitch, Facebook, and YouTube.
1. Social media accounts for 52% of live video watchers
YouTube is the most preferred medium for watching live entertainment among American social video watchers, with 52.0% of them checking in, according to Insiderintelligence. With 42.6% of users using it for live streaming, Facebook is their second app of preference, followed by Instagram and TikTok with 33.4% each.
2. Twitch leads the industry for live video game broadcasting
Live broadcasting has virtually become associated with the platform Twitch. The most popular online gaming forum for both Esports competitions and individual game streamers is Twitch. Statista reports tell a cumulative value of 5.65 billion hours of viewing in the second quarter of 2022.
3. 245.0 million active YouTube users in the USA alone
Looking at the 2022 stats, we observe that YouTube is the second leading video streaming platform. It has an admirably diverse community. Best recognized for on-demand video content, YouTube tries to establish traction in the live-streaming arena.
Is Live Streaming Still Relevant In 2022?
Live streaming is a strong marketing technique, and there are numerous arguments why your company should explore it. It is a dynamic, rapidly growing sector with immense potential for all kinds of businesses.