Responsible for more than 91% of internet traffic, live streaming has become an unavoidable phenomenon. And brands as much as users are falling for it!
In less than one year the Singaporean startup Bigo Live managed to capitalize on this trend of live streaming. Through its free interactive platform, it allows users to follow the profiles of other users they like. In particular, it lets you interact with stars from all over the world, including YouTube celebrities and Facebook top influencers. More generally, for those dreaming of becoming famous, they can broadcast their own videos anytime and anywhere. With Bigo Live, users can connect to millions of other users, expanding their reach.
Within one year the startup is estimated at 400 million dollars and has more than 70 million users worldwide. The average spending time on the platform is 40 minutes per day. By contrast, Twitter-owned Periscope, cloned by Bigo, had 10 million registered users and less than 1.9 million active daily users in August 2016.
Bigo’s gamification system has been key to his success. The user can exchange money for digital gifts and send them to his favorite broadcaster during the live streaming of a video. Those gifts are turned into beans, which can be exchanged for diamonds or cashed out for real money.
One thing is for sure, this startup will keep drawing attention and users!