The last few years have seen live streaming become a mainstream technology that’s entered many different areas of our lives. Rather than falling away again, this is something that we can expect to see growing in the next few years to add even more value to the entertainment industry in different ways.
Expanding into New Areas
You’ve probably come across live streaming in different areas, as it’s the type of technology that is extremely useful in various types of entertainment. It’s something that has been particularly useful in the transmission of sporting events and the use of social media platforms to connect directly with a large group of users or followers.
Another example can be seen with an online casino site like Paddy Power, where live dealer games use this method to give players a genuine casino experience. Classic table games such as roulette have been transformed into something fresh through the use of live streaming, with new gameshow-type formats also being introduced.
As for the question of what other industries could benefit from live streaming, one of the most interesting possibilities comes from the way that it’s been used in e-commerce in some parts of the world. Live video shopping can be traced back to the Taobao Live platform launched by Alibaba in 2016, and the idea of watching while shopping has grown steadily since then.
The American video shopping market is expected to explode in the next couple of years too, with influencers and product experts holding live shows where viewers can watch them use and recommend products. The audience will be able to ask questions and react, with the whole thing being packaged as more of an entertainment option rather than purely e-commerce.
It doesn’t need to stop there though, as it’s easy to imagine the likes of training courses, exercise classes, and sporting events all being enhanced by the chance to join a live stream using VR. It seems certain this would deeply change many industries if the main stumbling block of the cost of VR equipment can be overcome.
“Detail: Live-Stream” (CC BY-SA 2.0) by boellstiftung
A More Interactive Experience
No matter which industries add live streaming to their business processes in the near future, we can also expect to see some changes to the way that it’s carried out. Perhaps the most intriguing possibility is that it gets mixed with virtual reality (VR) to provide a far more interactive experience.
This could be one of the next steps taken in the metaverse, as being able to see live events take place and interact with them while feeling that you’re really there sounds like an incredibly lifelike experience that could revolutionize just about any area of the entertainment industry. In terms of how we interact with others, it could simply be an extension of the current video chat capability or something more complex.
There are some interesting opportunities for the live-streaming industry in the near future, and it’s something you can expect to hear more about regardless of where you live and what your main online interests are.
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