Whether it’s corporate events, like Larry Ellison’s keynote at Oracle OpenWorld, or glamorous occasions such as the BAFTAs (British Academy Film Awards), live streaming has transformed events. These events, which once captivated only the onsite audience, now reach a far broader audience thanks to advancements in live streaming technology.
This new reach enables events to become topics of global public discourse, extending beyond limited newspaper coverage or traditional TV broadcasts. Whether standing on the red carpet, relying on traditional media, or watching in real time on a smartphone, tablet, or PC from anywhere in the world, viewers can now experience events anytime, anywhere. For event organizers, this expansion of reach is overwhelmingly positive, driving increased online engagement and traffic. If monetized effectively, live streaming can also generate additional revenue.
The interest in live streaming has surged in recent years. For example, organizers of the NBA industry trade show use live streaming technology to broadcast their events to massive online audiences. Live events tailored for large online audiences have become a significant trend. Thanks to multiscreen video technology, audiences can watch these events from virtually any location, no longer restricted to the TV in their living rooms. This flexibility is especially important for live broadcasts, which viewers increasingly enjoy discussing and commenting on in real time.
One of the most notable developments in media consumption is the rise of “second screen” usage, where viewers use additional devices, such as smartphones or tablets, to share and discuss their viewing experiences on social networks. This enhanced viewing experience is particularly popular with live, one-off events. In fact, as early as the first quarter of 2013, sports and special broadcasts accounted for nearly 60% of second screen viewing. The availability of powerful cloud-based live video encoding tools has further reduced the high costs and complexities traditionally associated with in-house multiscreen live streaming. This innovation gives media companies greater flexibility to meet growing viewer demand for live events.
WHAT’S NEXT FOR LIVE STREAMING?
Cloud technology is paving the way for more personalized and individually tailored live streaming experiences. For instance, two viewers watching the same Oscar awards live stream online could receive dynamically inserted advertisements customized to their individual preferences and demographics. This approach not only enhances the social nature of live video events but also creates a more holistic and personalized viewer experience. It benefits everyone involved: the viewer enjoys relevant content, the advertiser gains a targeted audience, and the publisher increases engagement and revenue.
Live streaming has redefined how events are experienced, making them more interactive, accessible, and impactful than ever before. With ongoing technological advancements, the future of live streaming promises even greater opportunities for personalization and audience connection.
