Starting off 2017 right, YouTube has just added an all new feature for their successful live streaming offering called “Super Chat”. In a recent blog post, Google describes the new feature as “a highlighted message in the chat stream that stands out from the crowd to get even more of your favorite creator’s attention.” (YouTube Blog) These messages will replace the “Fan Funding” feature helping content creators monetize their channels and live broadcasts. If successful, live streaming will become the dominant avenue for content creators to monetize their content through user donations.
While YouTube itself still isn’t profitable according to Google, YouTube and Google Play still only account for 15% of total revenue for the company. This number is expected to grow to 22% of all Google revenue by 2020 partially due to increased demand for live streaming (Business Insider).YouTube Live is already changing the way the world thinks about live streaming. One massive feature at a time Google has been quietly creating another game changing marketplace in the backend of YouTube. Video on Demand is a $25.30 Billion dollar market which is expected to grow to $61 Billion by 2020.
Video Link: http://www.youtube.com/embed/jCgO7i3edNA
“It’s a lucrative business model,” writes Social Blade blogger Danny Fratella “fans receive instant gratification for their contribution in the form of acknowledgement by their favorite creator… Viewers, especially those in younger generations, need that instant gratification to justify their purchase. When live streams have thousands of concurrent viewers, having the ability to get your comment seen and read aloud for just a couple of dollars is powerful.”
Google admits the Fan Funding feature was a failure in this blog post and I quote “We launched Fan Funding in 2014 to let viewers make voluntary payments to support creators directly. While we were really excited about Fan Funding, it never achieved widespread usage outside of live streams, where we saw the majority of revenue. Fan Funding will stop accepting new sign-ups today, but can continue to be used on enabled channels until February 28, when it will be discontinued.”
Maybe, YouTube should take a hint from Facebook and add live reaction polling which has been a huge hit over on the Facebook Live platform. Until our next live stream, thank you for reading another live streaming technology article from PTZOptics!
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