Global Live Streaming Market Is Projected To Reach $247 Billion By 2027

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May 13, 2021, 08:30 ET

PALM BEACH, Fla., May 13, 2021 /PRNewswire/ -- The coronavirus lockdown caused huge revenue losses across countless industries and closed down a multitude of manufacturing facilities across the globe, putting a brake on production… but live video streaming activities have actually spiked. The COVID-19 outbreak has positively impacted the live streaming industry. The full/partial lockdown imposed worldwide to control the spread of coronavirus increased live streaming activities by almost 50% compared to the pre-COVID period. In April 2020 alone, several live streaming platforms witnessed a significant increase in viewership. Analyzing the trend during the COVID-19 crisis, when people are still maintaining social distancing and avoiding public gatherings, it is seen that live streaming has increasingly become the preferred option for concerts and other big events. This scenario is estimated to increase the growth rate of the market during the forecast period (2020 – 2027). A report from Market Research Future said that Global Live Streaming Market is projected to reach USD $247,275 Million by 2027, growing continually at 28.1% CAGR throughout the forecast period. Active tech companies in the markets this week include Versus Systems Inc. (NASDAQ: VS), Caesars Entertainment, Inc. (NASDAQ: CZR), DraftKings Inc. (NASDAQ: DKNG), Zynga Inc. (NASDAQ: ZNGA), Electronic Arts Inc. (NASDAQ: EA).

The Market Research Future report said: "The live streaming market growth can be attributed to live videos or live streaming activities that have significantly increased by the mid of 2015. Social platforms are the key source of live video content, and TV is the most popular type of live video content accessed. Brands and public figures started actively interacting with their intended audience through online platforms like YouTube, Instagram, and Facebook. Live streaming attracts more audiences as most people prefer to watch live video over reading a blog or social posts. Due to the spread of COVID-19, countries across the globe went under lockdown. Resultantly, various events and shows got canceled, leading to a significant rise in live streaming activity worldwide. Especially in April, various OTT platforms, including Twitch, Facebook gaming, and YouTube, witnessed a massive growth in live viewership globally. "

Versus Systems Inc. (NASDAQ: VS) BREAKING NEWS: Versus Systems to Acquire Xcite Interactive, Expand Reach into TV and Streaming - Versus to purchase the company that manages second screen engagement for multiple NFL, MLB, NBA, and NHL teams - Versus Systems today announced that they have entered into a definitive agreement with Xcite Interactive ("Xcite") to acquire 100% of Xcite's capital stock.

Xcite is a world leader in interactive audience engagement, having worked with over 150 professional teams across the NFL, NBA, NHL, and MLB as well as the World Cup, Formula1, and other live events worldwide. Xcite has ongoing relationships with dozens of teams and content partners that will now be able to access Versus patented rewards platform inside their apps, streams, and broadcasts. The newly developed XEO platform will offer fans the ability to interact with their favorite shows, games, and events, winning rewards and prizes from their favorite brands.

The XEO platform featuring Versus prizing was recently beta tested during the Canelo Alvarez - Billy Joe Saunders middleweight title fight held at the AT&T stadium in Dallas, Texas on May 8th. That test showcased Keurig Dr. Pepper brand Crush as well as Canelo Alvarez himself. Fans on the test platform were able to win everything from signed boxing gloves to DAZN codes to watch the fight to Crush soda in the first test of the Versus-Xcite platform in the market.

"This merger will allow us to build the next generation of audience engagement products." said Matthew Pierce, CEO of Versus. "Versus will take its patented rewards, advertising, and engagement tools and add them to Xcite's XEO platform - bringing rewards and engagement to broadcasters, streamers, teams, live events, and recorded media. Audiences will be able to win real rewards while watching their favorite games, teams, streams, and live events - on any device. With the new suite of products enabled by this acquisition, brands win, broadcasters win, teams win, and fans win too."

"Adding Versus to XEO is going to add so much value to TV and streaming," said Sean Hopkins, founder and Chief Product Officer of Xcite. "We're already working with over 150 professional sports teams and being able to bring our complete engagement platform to all kinds of broadcasters, Influencers and teams will improve the experience for fans, for brands, and for our content partners. The power of our enhanced platforms will redefine fan engagement for years to come." CONTINUED… Read this and more news for Versus Systems at: https://www.financialnewsmedia.com/news-vs/

In other recent developments and news from around the markets:

Caesars Entertainment, Inc. (NASDAQ: CZR) recently announced a partnership with the Arizona Diamondbacks to launch mobile sports betting in Arizona and build a first-class sportsbook and bar concept on the plaza adjacent to the team's home, Chase Field.

"We went through a thorough process to identify the ideal partner that would bring experience and the strongest of reputations in legalized gaming," said D-backs President & CEO Derrick Hall. "Caesars is considered the cream of the crop and aligns with our philosophy when it comes to professionalism, brand presentation, and customer treatment and brings its best in class William Hill mobile sports book product and retail sports betting expertise. Equally important, we went through our strong due diligence to find the industry leader in the education and execution of responsible gaming."

DraftKings Inc. (NASDAQ: DKNG) recently continued to broaden its sports entertainment footprint by completing a first-of-its-kind content distribution, monetization and sponsorship agreement with Meadowlark Media. As part of the deal, Meadowlark Media and DraftKings will distribute The Dan Le Batard Show with Stugotz and the Le Batard & Friends Network across a wide range of audio, TV, digital and social channels. Additionally, the network of shows will prominently feature DraftKings' odds, betting trends and general sportsbook and daily fantasy information.

"We're thrilled to find a collaborator in DraftKings that shares our vision to grow Dan Le Batard's already wildly popular network of shows in non-conventional ways," said Meadowlark CEO John Skipper. "With the freedom to widely distribute these programs, we'll be able to reach the largest possible audience and provide incredible content to DraftKings."

Zynga Inc. (NASDAQ: ZNGA), a global leader in interactive entertainment, recently announced it has entered into a definitive agreement to acquire Chartboost, a leading mobile programmatic advertising and monetization platform. Along with its talented team, Chartboost brings a global audience of more than 700 million monthly users and more than 90 billion monthly advertising auctions. Together, Zynga and Chartboost possess all the elements of a complete, next generation platform: high-quality content, direct player relationships, massive reach and full-stack advertising technology that can be applied across Zynga's game portfolio and Chartboost's advertising partners.

Chartboost is a unified advertising platform that includes a Demand Side Platform (DSP) as well as Supply Side Platform (SSP) and mediation capabilities delivered through an SDK solution. By leveraging advanced machine learning and data science capabilities, Chartboost brings together premium inventory, global scale and audience-based targeting to optimize programmatic advertising and yields. "Chartboost is one of the most dynamic monetization and discovery platforms in mobile, and we could not be more excited to welcome their talented team to our company," said Frank Gibeau, Chief Executive Officer of Zynga. "By combining Zynga's high-quality games portfolio and first-party data with Chartboost's proven advertising and monetization platform, we will create a new level of audience scale and meaningfully enhance our competitive advantage in the mobile ecosystem."

Electronic Arts Inc. (NASDAQ: EA), a global leader in interactive entertainment, recently announced the completion of its acquisition of Glu Mobile Inc. (NASDAQ: GLUU) for $2.1 billion in enterprise value.

The combination of Electronic Arts and Glu accelerates EA's mobile portfolio growth and will fuel new experiences in mobile, the largest gaming platform in the world. The deal will add significant growth to EA's mobile business, building on its network of 100 million monthly active players in mobile, and creating a market-leading portfolio of more than 15 top live services across multiple fast-growing genres.

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