eCommerce and the Future of Streaming Monetization
Learn more about streaming monetization at Streaming Media West 2022.
John Petrocelli: One thing that's coming up pretty quickly is ecommerce live streaming, which is a $300 billion-plus business in China. Accenture estimates the global market at $492 billion, and it's still pretty much brand new, certainly in North America. I think it became an $11 billion business here this past year, and it's gonna go to $25 billion sometime in the coming year. This is all the more reason to have quality live ecosystems available to meet that demand, knowing that we're headed to this kind of Web 3.0, where a lot of the brands and people that make beauty and fashion products and even cars--these things can be demonstrated in real time, in real broadcasts with subject-matter experts. You can ask questions. You can ask the host and the host can ask the guest, "Hey, Tommy from London has a question." It's here. That's a massive, massive market. Certainly, it's been fueled by the pandemic, but it seems like that's definitely going to continue, knowing that, Gen Z and millennial consumers are buying product at alarming rates.
Corey Behnke: In the last nine months, we have three or four customers, two of whom are major display manufacturers, but one of whom is a small beauty product. They do a $10-15,000 live stream in our studio from New York every Friday. And they make all of their ROI back immediately from that. That's the first time I've ever seen that in my life, where they're literally selling 40 to 50 beauty products that make them back that $15 grand. And then they've got that VOD, and they don't really use the VOD, but it's incredible. I have a former client who just started e-commerce that's for mobile out of Alabama, and they're doing like crazy business.
How many years are we gonna be at Streaming Media talking about low latency and interactivity, and all we have to show for it are super chats on YouTube--which make great money for a lot of people, by the way--YouTube has killed with that product. And it's incredible how there's maybe two or three startups in that space that are really trying to monetize interactivity. And it's like been this gold mine for all of us--interactive live streaming. We're gonna do interactivity. That's why you live stream. I think the pandemic is one of the things that did help more adoption. But you know, at some point we're gonna make a shitload of money in interactivity. I hope it's in this decade.
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