At Digital Hollywood’s CES event, Mindshare’s Chrissie Hanson (Head of Strategy, West Coast) explored the growth and opportunities in social streaming in a panel with executives from MRY, Manatt Digital Media, Waywire Networks, Tubular Labs, and more.
Social streaming has experienced undeniable growth this year – just four months after its launch, Periscope had already gathered over 10 million users. Video platform Twitch reaches over 100 million users a month. And Facebook recently opened up their livestream video service to verified pages.
The biggest question onstage was: what’s the role for brands? How do they leverage these live platforms? As Hanson explained, the most important note for brands is that live streaming should not be treated as a stage for a soliloquy – you have to focus on creating purposeful content.
She also outlined three specific components of note – brands should leverage at least one of these in order to create compelling livestream content.
1) Inclusivity: Streaming to the palm of your hand effectively means that everyone gets the chance to own the golden ticket – everyone has front row access to the show. The fashion industry in particular has already begun taking advantage of this; at New York Fashion Week 2015, designers Periscoped 47 live streams from the shows.
2) The rise of the influencer: People love peeking into other peoples’ lives. If you can work with influencers who reflect an aspect or quality of your brand – and can talk passionately and authentically about it, then you should embrace them and nurture that relationship.
3) Connection to culture: Cultural relevance is key. For example, when you look at this year’s sporting calendar, with the Centennial Copa to the Olympics, there will of course be high-definition live streams from the networks, but also numerous brand opportunities in regards to the up-close and personal stories. That grainy, unedited content creates an interesting tension for brands – marketers like to have complete control over their content, which is at contrast with the world of live streaming.
As the livestreaming space continues to grow over the next couple of years, there’ll be a much more codified way for brands to embrace this medium, like they would any other channel. At Mindshare we’re guiding our clients with playbooks, to use social streaming in the clearest way to tell their stories.