Why are Twitter & Facebook Focusing on Live Events?

Live Streaming

Why are Twitter & Facebook Focusing on Live Events?

PeriscopeIn January 2015 Twitter acquired Periscope, a live-streaming app created by Kayvon Beykpour and Joe Bernstein, before it had even launched publicly. Since then, Twitter has been keen to evolve it’s live streaming app, with the social media giant recently acquiring the rights to stream ten NFL games and adding a live video search feature to Periscope.

 

Not to be outdone, Facebook have decided that they want to be involved in the live events field, resulting in users being given alerts about live video streams. Since then, the company launched Sports Stadium, with its key purpose on updating users about the latest scores and news regarding live sporting events throughout the world.

 

Further to this, Facebook Live directly competes with Periscope which, based on Twitter CEO Jack Dorsey’s recent comments, appears to currently be ahead of the game:

 

“We’re working on making sure we have the best experience out there and using technology appropriately to increase that experience and the enjoyment of the experience.

 

With Periscope, we think we have a significant leadership position in live-streaming video that is the best for broadcasters and their fans.”

 

Facebook LiveHowever, things change very quickly in this industry and, while it’s true that Twitter has the lead when it comes to live-streaming, the lead isn’t guaranteed to last forever. The simple fact is that Facebook has 1.6 billion users worldwide, which means that Facebook Live could soon knock Periscope off the top of the live-streaming perch.

 

But the question is why are Twitter and Facebook so keen to succeed when it comes to live-streaming? Well, the answer is simple, live events get people engaging more frequently than traditional text-based content. This, in turn, leads to companies being able to charge a higher rate for the ads that appear within their video content. In short, live-streaming equals more money in companies pockets and that is definitely something that Facebook and Twitter are always striving to achieve.

 

We’ll keep you updated on how both Facebook and Twitter perform in this epic live-streaming battle in due course.

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