Facebook Live Video: A Quick Look

Last week we saw the  launched a small test run of Facebook Live Video to iPhone users in the US. The feature will reportedly be available for Android users in the near future. Eventually, all users will have the ability to share video on Facebook live video, but the social network isn’t exactly saying when. Live video on Facebook will be available in an updated version of the status update menu. Once selected users will be able to stream live video to their friends, family, and most importantly, followers.

Facebook is the latest social media platform to jump on the live video train this year and pegs its new feature as a way to bring photos and video to life. Periscope, which is owned by Twitter, was launched back in March and by August of this year had already surpassed 10 millions accounts. Meerkat launched in February of this year – just weeks earlier than Periscope – and as of late summer also hit the 10 million active user threshold. Both platforms don’t really show any signs of slowing down as video digs itself further into the socialsphere. Live streaming video is a thing, it is making some waves, and it’s not going anywhere. Facebook live video is just the next iteration of the next stage in new media content.

Facebook live video streaming option seems to mimic some of the stylistic features of some of other live streaming platforms. You’ll be able to see the number of live viewers, the names of friends who are watching, and real time comments. Broadcasts can’t run any longer than 30 minutes and will be saved to your timeline just like any other video. Nevertheless, Facebook is now in the live streaming game and is sure to be disruptive.

“Facebook live video is just the next iteration of streaming video content on social media”

Video is becoming a bigger and bigger part of any brand’s marketing strategy. This year Twitter launched video auto play, Snapchat reports 6 billion daily video views, Facebook allowed advertisers to start buying video ads and live streaming video started to catch on. Actually according to Hubspot, 78% of people say that they watch videos online every single week. Even more impressive, 55% of people say that they watch videos on the internet every day. With those types of numbers it’s really no surprise that we are now seeing video options on most of the major social channels.

Video is changing the way people consumer social media and live streaming – that little window into your life – seems to be the natural next step. Facebook live video is sure to make an impact in the way we consume video content online and in social media. Just for some perspective Facebook has over 1.5 billion active monthly users whereas combined Meerkat and Periscope boast a mere 20 million active monthly users. Live streaming video will be exposed to an immensely larger audience with Facebook’s adoption and work it’s way further into the social media culture.

Marketers are surely excited about Facebook live video and the new adventure to be had. Ready to tap the power of a large potential audience, we’re always looking for new ways to grow our influence, build stronger and more engaged communities, and interact with our followers in new and exciting ways.

Live streaming video isn’t brand spanking new so we already have a bit of an idea on how we as a marketing team can leverage this new avenue into the consumer’s social stream. Whether you’re putting on a one hour seminar or hosting a weekend long conference, live streaming video now gives you a chance to broadcast your knowledge and show the fun to those who could not attend. Live announcements like product launches, news releases and press conferences will definitely be seeing a shift in the way they reach and interact with their audiences as well.

Live video brings experts and thought leader chats to a whole new level. Have your questions answered in real time or on the flip side, answer them yourself, with the personal touch of video. Turn your blogging practice on it’s head and live blog you newest blog and interact with some of your most loyal followers. We’ve seen this with the social platform Blab, which allows up to 4 people to simultaneously live stream video together in a panel format, but the idea of bringing in more than one source to connect with fans in any format is rather interesting.

https://www.youtube.com/watch?v=IGCIA5kPQiM

Facebook Live Video and Monetization

Even the monetization of the new feature is something many are questioning. How will Facebook find a way to make a little cheddar of their new live streaming video? They could maybe take the pre/post roll approach and launch ads on either side of the live content. Maybe they’ll venture down the extended audience avenue and allow content creators to pay to reach more people. Or once the feature has been incorporated into our social media culture they’ll decided on a freemium model where users will pay for advanced features and perks. Whatever the case may be there will sure to be some sort of revenue stream for the social media giant and it’s only a matter of time until its revealed what it is.

There are many question floating around about Facebook live video but for now we’ll have to wait for the feature to be available to the general user. Video has really come into it’s own this year in terms of viewership on social media and will continue to make a serious impact on your social stream – live streaming video is just the next step in its evolution.