Live video is currently a growing trend in the digital and social space. Initially introduced by Periscope, it was later adopted by SnapChat and most recently, Facebook. But what are the benefits of live videos for brands and advertisers? We have reviewed the opportunities.
The Idea Behind Live Video
Previously, live broadcasts were a privilege for the television industry. Now thanks to new and ever-evolving social networks and the dominance of mobile, live content is accessible everywhere and to everyone.
Unlike traditional social video content, live video gives users an opportunity to experience and engage in real-time. Live content is exciting and uncensored compared to a typical “best-of” video cut, usually shared after the fact. With live video, brands can offer direct access to unique experiences and exclusive opportunities as part of a shared social experience for its community of followers. At the same time, users also can comment and react to the content they are consuming.
Ad Options for Live Videos
Initially, live stream advertising was present only on desktop webpages, – either as a pre-roll, mid-roll or post-roll. Snapchat was a pioneer in the social ad space, integrating paid ads into live content. They currently offer a number of different advertising tactics including video mid-roll on the platforms Live and Discover content sections and now plans to insert ads between user’s snaps or Snap Ads.
Snap Ads appear between SnapChats. Swiping up the video ad reveals extended content like a long form video, an article, app install ad, or mobile website. According to Snapchat, the swipe-up rate for Snap Ads is 5x higher than the average click-through rate on comparable platforms. Snap Ads can also be targeted by age, gender, location, type of device, carrier and content affinity.
Most recently Facebook introduced their solution for live video. At first, Mark Zuckerberg expressed concern incorporating ads into this content which in his opinion would ruin the experience. Ultimately Facebook has begun to beta-test mid-roll ad inventory in live stories. The test is currently open to select advertising partners whose ads are eligible to appear 5 minute into a broadcast and last for a maximum of 15 seconds. It is too early to say whether this will be rolled out to advertisers globally.
Why Consider Live Video Adverting?
According AdWeek, 64% of users have followed a live video stream over the past year. The trend is steadily growing and therefore, gaining interest among advertisers. Because users choose these streams specifically, dwell times are impressively long – on average more than 5 minutes. With targeted ads during live content, advertisers know they are reaching a captive audience.
A recent Yahoo study on Live and Video-on-demand content found that more than 50% of users connecting with live videos had a positive emotional response and higher attention span to the content. Additionally, 77% percent of viewers felt prepared to purchase a product.
For advertisers, live video ads are a way to align a brand with positive consumer reception.