NEW YORK, August 10, 2016 /PRNewswire/ --
The race to reach as many users via live streaming has been a massive priority to social media companies in 2016. According to a report by MarketsandMarkets, video streaming is growing rapidly, in particular users watching on-demand videos, watching live events and communicating through video conferencing. The report headlines that the global video streaming market can grow from USD $30.29Billion in 2016 to USD $70.05Billion by 2021 at a compound annual growth rate of 18.3% during the forecast period. Facebook Inc. (NASDAQ: FB), Twitter Inc. (NASDAQ: TWTR), ChineseInvestors.com Inc. (OTC: CIIX), SINA Corp. (NASDAQ: SINA), Weibo Corp. (NASDAQ: WB)
The rapid growth of live video streaming has been on the forefront of many tech start-ups, small businesses and large capitalized companies. The real-time allure has alerted Silicon Valley and beyond to focus their attentions in 2016.
Large social media companies like Twitter Inc. (NASDAQ: TWTR) have capitalized on the Live Streaming madness by inking deals with big sports companies like the National Football League and National Basketball Association this year. In addition, Twitter also inked a deal with Bloomberg Media just last month. Facebook Inc. (NASDAQ: FB), one of the largest social media companies in the world, also inked deals with over 100 celebrities and media companies to produce videos for Facebook Live, which has shown tremendous user growth this year.
Small companies like ChineseInvestors.com Inc. (OTCQB: CIIX) are also seeing the potential of live video streaming to their VIP members, who can gain a great and more personalized experience with their services. In January of this year their VIP membership subscription growth hit record highs.
Not to be outdone, ChineseInvestors.com Inc. also announced yesterday that their live streaming service has helped the company book record subscription revenues last month or surpassing the January milestone. The company provides real time educational related services in Chinese language character sets (traditional and simplified), by support services to their various partners, advertising and public relation support services, and other services they may identify having the potential to create value or partnership opportunity with their core existing services. The company has offices in the United States and in China.
Moreover, US companies are not the only ones expanding on the live video streaming front. SINA Corp. (NASDAQ: SINA) this year launches live streaming function on Weibo Corp. (NASDAQ: WB). Sina Corporation is an online media company serving China and the global Chinese communities. The Company's digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances. The Company's segments include Portal advertising, Weibo Corporation (Weibo) and Others. While Weibo is a social media platform for people to create, distribute and discover Chinese-language content. It offers eReading, a shop for book reviews, as well as complimentary and fee-based online book reading. It offers SINA Blog, a Website in China for bloggers to publish and read original writings.
In the same token, Weibo provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services. It offers advertising and marketing solutions to enable its customers to promote their brands and conduct marketing activities.
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