Live video and more specifically mobile live video has grown from strength to strength in the last decade. It has become a cornerstone of communication in recent years. When face-to-face interaction isn’t possible, mobile live video connects people in ways which other forms of communication doesn’t allow. Although mobile live video is still relatively new, it has now surpassed the point at which it can simply be ignored. Live streaming via a mobile device is easier, faster, cheaper, and more effective than ever before, and it’s beginning to receive the attention and recognition that it deserves.
The Iris Platform offers businesses the opportunity to leverage the power of mobile live video, and harness that capability into effective and cost-efficient processes and outputs. From our turnkey application, Iris Flow, to our comprehensive set of developer tools in Iris Dev, the Iris Platform offers the perfect solution to meet all live video needs, at a time when live video solutions are in high demand across the market.
Thanks to enterprise digitalization, the need for mobile live video is now spreading rapidly across new and uncharted industries. Take the field service industries such as security or construction for example. Historically organizations within these sectors relied heavily on written reports and other physical documentation. In the shift to becoming more digitally minded, accessible technology like live video streaming is proving to be a gamechanger for process management and efficiency across all daily tasks and business operations. As a result, the demand for solutions such as the Iris Platform is increasing at a fast pace.
The overall tech industry encountered a massive shake up with the introduction of Facebook Live, YouTube Live, and Periscope amongst others, meaning that many organizations are now faced with the reality to either ‘Go Live or Go Home!’. Since its inception, mobile live video has been dominating online media. Over the years this trend has continued to grow in usage and popularity, and it has become the preferred medium for communication. By 2019, it is projected that 80% of global Internet consumption will be video content.
Experts predict that 2017 will start to see a huge push towards live video for businesses.
“…social won’t be the only player in this space. Expect to see live streaming proliferate across the digital landscape…” span.quote-source. -Emarketer, Dec 2016
According to Cisco’s latest mobile VNI forecast , the growth of mobile live video is said to see 108% compound annual growth rate between now and 2021. With the big players like Facebook, YouTube and Twitter all placing extraordinary focus and heavy investment on mobile live video, Cisco predicts that this will land favorably with consumers and will ultimately become the catalyst for further mobile live video migration. Video continues to drive the growth in mobile data and will dominate by 2021. By that time mobile live video will consume 2.02 exabytes of data, the equivalent to 2.2 billion gigabytes.
Online video advertisements are also set to skyrocket. Advertising connected to online videos already has the highest click-through-rate of all forms of online advertising, reaching around 1.84 percent. So with the growing popularity and projected growth of live video as a medium, online video advertising, is really set to take off. Experts suggest that US digital video ad spend will reach $28.08 billion in 2020, an increase from $9.90 billion in 2016. This will make video the fastest-growing advertising category across mobile, desktop and overall, from 2016 through to 2020.
Brands and organizations are now leveraging mobile live video for multi-channel content distribution. YouTube and Facebook are no longer the only players in the game. Companies are beginning to realize that it is far more beneficial to leverage their own branded websites and custom video channels over the likes of YouTube, Facebook, and other social platforms. With this model, full control and ownership of the content is retained, and aspects like monetization via advertising or premium user upsell sits entirely with the company in question. Revenue-share models can be a thing of the past. Social media platforms shouldn’t be the ones profiting from the hard work and content of external organizations. One of the main benefits of using one’s own platform over social media channels is the acquisition of the valuable user data which is collected through leveraging branded content. Such user data can be reused as high-quality targeting criteria for future commercial ventures.
As you can see, we are in the midst of a prime opportunity for mobile live video solutions, the market is ripe for such technologies and the future is bright for the Bambuser’s Iris Platform.