Digital technology has evolved so fast that within the past decade, people around the world can access online video streaming using their laptops, smartphone, and tablet to watch their favorite shows or participate in live streaming events in any location as long as there is a good internet connection.
Gone are the days where you need to rush home and turn on your television just to watch your favorite drama or use your VHS (short for Video Home System) to record your show.
Live streaming events are so popular in the world that many companies and individuals have started to host their live streaming events online. There are so many examples of a business event like Townhall meetings, online seminars. Marketing events like online conventions or product promotions. Sports events like NBA basketball, Olympics, or English Premier League. Entertainment events like music competitions or variety shows. You can be certain to see the live streaming versions on any platform that can broadcast these streaming events to online viewers.
Even the News broadcasting stations have adapted the live streaming technology to live stream their news channel to increase the viewership and educational institutions have live stream the classes online for the convenience of their students.
The main reason why live streaming events are becoming more popular especially in recent years is largely due to the Coronavirus pandemic situation which has affected businesses in all industries and our daily life. Using Singapore as a good example, I will explain on some little-known facts about live streaming event and service that has created a new and business trend for companies and a new way of life for individuals in Singapore.
Ever since “circuit breaker” is implemented by the Singapore government in April 2020 to prevent any outbreak of the COVID-19 pandemic. It has severely impacted the business of many companies in the aviation, Food & Beverage, and tourism industries. Singaporeans are also not allowed to travel to other countries as tourists especially to their neighboring countries like Malaysia and Indonesia as part of the COVID-19 regulations imposed by our government. Not to mention the WFH (Work From Home) policy which most of the working professionals need to work in their home instead of their office.
With all these safety protocols in place, people need to find a new source of entertainment to compensate for the “lockdown” situation and this is where Live streaming video content helps to fill in the void and provide a good source of entertainment while staying at home.
Business owners and entrepreneurs are also taking advantage of this live streaming trend to host their live streaming events to promote their products or services on popular social media platforms like Facebook Live or YouTube Live and studies have shown that hosting live streaming events in social media platforms help to increase their online sales up to 40% to 60% as compared to other methods of online marketing.
Companies in Singapore also benefit from using live streaming events for their business seminars and conferences and broadcast to their target audience without the need to host the physical event. Students can also stay at home and take online lessons from their lecturers or teachers that are live stream in real-time without attending the school physically.
Although Live streaming has brought many benefits to us during the lockdown period in Singapore. It is also becoming part of our daily lifestyle which we have depended on the technology to communicate with our work colleagues, friends or relatives and also for personal entertainment in years to come.