Periscope is a free service that offers the ability to discover and broadcast live video to the world by going live instantly and notifying followers. Periscope is now available for paid amplification, which launched recently, and is displayed as a streaming video with autoplay within the Twitter feed. Even though live video is still in the early stages and Periscope is one of the more established live video services, competitors in the space are increasing. We recommend keeping track of Periscope’s progress and gauging its features with ascending competition to determine if it is the right option to use for your campaigns.
- Streaming and live video on the web are expected to increase drastically during 2016 on both social media and traditional platforms due to involvement of more publishers and mobile-friendly technologies (i.e. Facebook, Twitter, YouTube, Snapchat, Instagram, Netflix, LiveRail, among others).
- The average U.S. Internet user watches about 229 videos per year. And about 29% of the U.S. population watches video on mobile devices.
- Periscope is popular among millennials. Three-fourths of Periscope users are ages 16-34 according to a GlobalWebIndex study.
- Periscope has struggled with adding cutting-edge features to distance itself from the growing competition. New features are gradually rolled out following competitors’ announcements.
- The biggest competitor of Periscope (2 million daily users) was once Meerkat (2 million active users), but competition now includes Facebook Live (potentially 1.5 billion users) and Blab (2.5 million users).
Live video is still new and the user base is relatively small compared to the respective established networks. However, there is an opportunity to include live video within current social strategies and either boost engagement, build awareness or drive conversions.
Even though Periscope is one of the more established live video services, it will have to ramp up to align its services to competitors (open API, 360 video, hosting) to remain a leader in the sector. Recent features including video search, saved broadcasts and improved drone support are examples of the direction Periscope is taking to improve the service. Videos are also no longer removed after 24 hours. Periscope is now available for paid amplification, which launched recently, and is displayed as a streaming video with autoplay within the Twitter feed.
What does it mean?
Our initial POV is that Periscope may not be a strong tactic for performance marketing campaigns due to the nature of the format. The paid amplification process allows only bidding against engagement metrics and it seems difficult to integrate a click-through link somewhere in the format. However, the format represents a strong tactic to engage with a brand’s target audience, such as broadcasting live events, making live announcements, conducting live interviews, creating content like Q&A sessions or even product demos, in addition to a classic direct-response paid amplification.
We recommend keeping track of Periscope’s progress and gauging its features with ascending competition such as Facebook Live, which represents the most solid competitor to Periscope today. The user base, the placement delivery and the targeting capabilities are also other criteria to take into account for any potential paid amplification.