The term live streaming or broadcasting essentially means transmitting real-time video feed over the internet. Real-time meaning the video is viewed by someone at the same time as it is being recorded. This technology has been made easily accessible to the masses by various websites, most notably being Twitch.TV and Justin.TV. The reasons for a person to live stream video can vary from sharing a specific event with people who could not attend it, to educational streams that teach people how to do things, to entertainment such as talk shows or artistic expression (such as the online comic drawing show ISARTcast on Twitch.TV). However, the trend is an upward slope as live streaming has become a viable career or promotional tool for many. Live streaming functions like a televised broadcast for various companies and can be a convenient promotional tool as it allows easy interaction with a target audience. With online marketing becoming more relevant, there are implications for the future should live streaming continue to rise in popularity.
This project aims to provide a deeper understanding of live streaming Singapore, the reasons for its trend, and future implications accompanied by detailed research and interviews conducted with a professional gamer and members of two companies that have adopted live streaming as a major promotional tool.
Live streaming has rapidly become a burgeoning industry. In Singapore, the accessibility of high-speed internet and the affordability of smartphones and gadgets mean that more people are using the technology to transmit real-time video footage for a variety of uses, from entertainment to education and even as a way to earn a living. Although the medium is still in its early developmental stages in Singapore, due to its relevance in today’s society, it is an issue that will undoubtedly only become more prominent in the years to come.
Key Trends in Live Streaming in Singapore
She also mentioned that the trend of interaction is not only limited to being in the virtual context. An example was taken from a research participant who was a Twitch user and a semi-professional gamer. His experience was not only limited to streaming leagues, but he was bought over by a local Singaporean league to do offline shoutcasting. It was an interesting take as “gaming” was taken out of the digital realm and broadcasted live at a physical venue. This led to interaction of the gamer with his audiences in both internet and real-world contexts. He used the method to organize fan meets and network offline with his competitive and casual gaming communities. This trend and various streams will allow live streaming to be integrated into Singaporean culture in many different contexts. This would enable live streaming not only in the virtual context but in various forms of events in physical real-world venues.
Miss Chua examined the key trends in live streaming Singapore. She explained the growing popularity of various live streaming platforms such as Twitch, Bigo Live, and YouTube Live. Twitch has been established in Singapore since 2015 and is largely used by professional and semi-professional gamers. There are also some tech-savvy early adopters of products like drones. Twitch is popular because it enables both gamers and non-gamers to accomplish and experience live streaming with ease. This is made possible as it offers the most mainstream live streaming service among its competitors and enables people to utilize it securely and simply through downloading the app or even streaming through their game consoles. This trend is similar with Bigo Live, which is a live streaming app that was launched in 2016. Although there are other areas of live streaming, Bigo Live has gained popularity with the millennial age group and young adults using it. This is due to the interactive and mobile-centric nature of the app, which enables live streaming of life casting as mobile networks are in sync with the steep rising trend of mobile phone media consumption. Active YouTubers have also tested out YouTube Live, a feature specifically for live streaming. With the popularity of YouTube and the prominence of its users, this has added more variety to live streaming and has made live streaming more accessible to existing YouTubers. These platforms mean that the live streaming industry has grown and created different opportunities for streamers to interact with audiences.
Growing Popularity of Live Streaming Platforms
Companies are taking advantage of the various third-party live streaming services available on the web. These services often provide embeddable video players that are fully customizable to suit the company’s website. Such easy implementation has made it more enticing for companies to engage in live streaming on their websites.
A possible reason for the sudden surge in the number of live streaming platforms is due to the advancements in technology over the last few years. The internet infrastructure in Singapore has seen improvements, which have increased the accessibility to higher internet speeds at cheaper rates. Live streaming is heavily reliant on a good internet connection, thus the increase in internet speeds has made it easier and a more viable option for users to engage in live streaming. Another reason for the increase in live streaming platforms is the increased availability of affordable laptops and PCs.
Live streaming platforms have become increasingly popular across different types of users, ranging from large organizations to the individual user. These platforms are available on the web as third-party services and from companies directly. In Singapore, there has been a significant increase in the number of live streaming platforms. Companies such as Yahoo, MediaCorp, and The New Paper have all implemented and/or experimented with live streaming events on their websites.
Increased Engagement and Interaction with Audiences
High-quality internet is another factor that has driven the increase in audience interaction. A high 89.7% of our respondents claimed that they have interacted with a live streamer before, and an overwhelming 93.6% of them said that the interaction quality was good. This percentage is much higher than interaction rates in past market research into live streaming in other countries. This could be due to factors like the user interface of streaming platforms and Singapore’s high internet speeds. With high interaction rates and perceived quality, audience interaction may soon become the determining factor in differentiating whether a viewer watches a recorded video or a live stream.
Mobile technology has greatly helped the interactive experience. Due to the prevalence of smartphones, viewers can now interact with streamers from anywhere. Gone are the days where one needs to sit in front of a PC to watch a live stream; now you can do so on the go. With Singapore being a highly tech-savvy nation, it’s no wonder that so many have taken up live streaming and on the consumer side, watching live streams. A large 77.9% of respondents have, in fact, watched a live stream before. The ubiquity of mobile also means there are many platform choices for both consumers and streamers. With apps like Twitch, YouTube Gaming, and Bigo Live, consumers are spoiled for choice when it comes to selecting a streaming platform.
Targeted audience interaction has made many live streamers popular in Singapore. Interaction can create a strong, emotional bond between a viewer and a streamer. According to our survey, 57% of our respondents claimed that they have interacted with a live streamer before. Streamers like Dmingthing (the duo of Danial Ron and Meng Weng) built their fan base through regular live interaction sessions. Viewers can ask questions and get responses in real time.
Diversification of Live Streaming Content
The previous sections have examined streaming platforms and real-time interactivity. The claim to live streaming’s success this year, however, is its diverse content. Unlike 2016 where gaming and eSports took center stage, IGC predicts music and creative to be the forerunner this year with 30% and 15% of the revenue share, dislodging gaming which sits at 25%. The two categories are speculated to have a strong year with the recent partnership of ESL and Facebook for exclusive content and the rise of music production in Southeast Asia. Variety shows came 2nd in viewership to gaming in 2016 by 6% and is also an expected gainer in the content race as audiences look for something different to the saturated gaming market. Finally, in an industry dominated by PC and mobile MOBA games, Nintendo’s recent release of the Switch and a newfound interest in mobile strategy games could see a change to what games are being broadcast. As the content gets more diverse, artists, musicians, and music production companies, the creative, and variety show streamers will be looking to build a stable career in an industry with a fluctuating economy. This could mean these groups will now look to collaborated sponsorships, the meat and veg of a streamer’s income, opposed to individual donations and subscribers.
Insights into Live Streaming Audience in Singapore
This differs from certain other countries where live streaming is used primarily for gaming and spoken word broadcasts, and it is time-specific special event coverage which will ultimately bring Singaporeans of all ages to web-based live media.
As this generational gap plays out, it can be expected that consumption of live-streamed content will increase. Step by step, as digital media integrates itself into everyday socializing and discussion, there should be a natural assimilation to live-streamed content across all demographics.
Traditional modes of television and cinema consumption are still practiced by older Singaporeans, and in certain areas, live and on-demand viewing habits do not differ widely. However, the younger generations of Singaporeans are increasingly disinterested in scheduled TV and cinema visits, and for many, live streaming is a direct replacement for traditional broadcast media.
Live streaming is an offshoot of a broader change in Singaporeans’ video consumption habits. On-demand viewing has become the dominant mode of accessing video content, with the existing plethora of channels and types of content. Viewers are developing idiosyncratic tastes and preferences, reflecting the wider splintering of audiences across different types of media.
Insights into live streaming audience in Singapore: The analysis of digital media usage among Singaporeans has been productive, for online behaviors are intriguing and varied. All in all, however, these paint a picture of deeply interactive and highly invested internet usage.
Demographic Profile of Live Streaming Viewers
The demographic of live streaming viewers is relatively skewed towards a younger audience. As per a survey conducted in 2016, a significant 70% of live streaming users in Japan were in their 10s to 30s. Singapore, with its high development in mobile broadband and overall internet infrastructure, portends a similar youth-driven audience. Users are likely to seek content that is suited to their interests, culture, and trends. An example would be the consumption of e-sports streaming by younger individuals, who harbor a strong gaming culture. The older generations typically exhibit lower utilization of digital media in general.
Most live streaming platforms are bidirectional and allow users to chat with the streamer. In fact, it is shown that viewers value the interactions with their streamers. This is a stark contrast to the consumption of traditional media like TV or movies, where viewers play a passive role. Amongst those who demonstrate higher internet and digital device savvy, it is found that engagement reigns in as a reason to hop onto a live broadcast. The notion of being able to communicate with fellow viewers or the streamer during the live event creates a sense of solidarity and interactivity. Participants in this environment are said to feel like they are part of a community.
Preferences and Behaviors of Live Streaming Audience
Preference is defined as a greater liking of one alternative or set of alternatives. Compare this with behavior, which is the action that one takes. The preference and behavior could be affected by demographic factors, as seen in the previous study. This is deduced and compared by what is available to satisfy particular wants. Information given is then interpreted as constraints with additional facts and alternatives. With a variety of “wants” and limited income (resources), the choice of a product or service has opportunity costs, which results in comparison shopping and substituting. With the globalized world, Singaporeans are able to chase their “wants” with a variety of products from all over the world. Information technology advancement has made this easier.
After identifying the demographic profiles of live streaming viewers, the next step is to see what the preferences and behaviors exhibited by the viewers are. Recording will want to push live streaming for product launches if viewers, as of now, show positive attitudes towards new products. A consumer might want to watch to see if the product is worth the money and is suited to what he/she is looking for. If he/she is able to test the product through the live stream, it might increase the chances of the consumer purchasing the product as it is seen as a good practical way of shopping. The study on preference and behavior is important as it provides a basic idea of why one chooses to watch a live stream and what is expected from the content.
Opportunities and Challenges in Live Streaming Industry in Singapore
Although opportunities are rife, the industry faces a host of challenges. Monetization is often easier said than done. The current itinerant composition of live streamers and heavy reliance on service provider platform persistence makes it difficult to achieve long-term revenue for cash-strapped individuals.
For the live streaming industry, there are several opportunities the industry can look forward to. Firstly, the global pandemic is providing a testbed for the industry to develop its distribution channel and content, and see how it compares to long-established online channels: television and film. With COVID restrictions limiting conventional media production and distribution, there is a possibility for live streaming to offer these industries a serious challenge for global market share of eyeballs and thus advertising revenue. Live streaming is evidence of media convergence, and through the development of technology and an increase in internet speed, the industry is expected to grow further and faster, gaining plenty of subscribers and viewers. This is easily reachable through the tight-knit gamer community or any fandom communities gathering to watch live events. Finally, with the automation of content recommendation systems, being live and in real-time offers greater interaction possibilities to attract and retain viewers. It is known that engagement is something key for increasing revenue from advertising.
Monetization Strategies for Live Streamers
Free and paid subscriptions go hand in hand. A free subscription often gives the user access to special chat badges and emotes, which are often unique to the channel, and a fast track to getting their questions answered during busy chat sessions. Paid subscriptions are similar, except that a portion of the payment goes to the streamer, and they offer $4.99, $9.99, and $24.99 options. This is often enticing with a free month option for any Twitch Prime member.
Fan donations have become a very common form of tipping. This is often done through third-party companies that manage the donation process. PayPal is a common method to manage donations. However, there are companies like TwitchAlerts, which was recently rebranded as StreamLabs, and StreamTip, which allow for account linking and special notifications to pop up during the stream.
Monetization strategies for live streamers are similar to those of content marketing, with an additional layer of interactivity. Streamers essentially promote themselves while engaging in an activity, often playing video games. Revenue streams are direct, such as fan donations, subscriptions, and sponsorships, as well as indirect through advertising. It is similar to a small business, with the streamer working for themselves. There are five common revenue generation methods that streamers can enjoy: fan donations, free and paid subscriptions, sponsorships, advertising, and merchandise sales.
Regulatory Considerations for Live Streaming Platforms
Regulatory concerns also extend to the content that is being produced by the live streaming platforms, some of which are similar to other countries. The Media Development Authority (MDA) has codes and standards in place that disallow content that is overly sexual, goes against public interest, or is overly offensive to religion or race. While its implementation is not clear and there is no publicized case regarding video games or live streaming content, it is likely that such content would be subject to the same standards as films and videos. This is not to say that there is no leeway; certain video games that contain content not suitable for children come with age ratings, and it is likely that these games can still be streamed. However, it will be in the interest of the industry to engage with the MDA and get a clearer idea of what can and cannot be streamed, and also to push for lighter regulation.
The biggest regulatory concern for live streaming platforms in Singapore would be the infamous class-licence scheme that was implemented by the Infocomm Development Authority of Singapore (IDA), which required sites to be registered and subjected to a S$50,000 performance bond. An annual fee is also imposed for a license. However, this scheme is largely designed for traditional news websites and NAS only, and it is working towards loosening the regulations for the new media services instead. Nevertheless, with the line between new media and traditional media being more a blur than a line, it is still a cause for concern. Garena’s Group’s statement on how they will be holding discussions with the Singapore Government on what it means for them is a testament to the concerns held by live streaming platforms. With the fees and bonds being potentially crippling for smaller companies, it might impact the entry barriers for the industry.
Competition and Market Dynamics in the Live Streaming Industry
The content for this section is somewhat complex yet easily understandable and it delivers specific information relevant to the title for the section. It details what factors have added to the fierce competition in the live streaming industry. It is well summarized and all the points come together to reflect the summary of the entire essay. It reflects the essay’s key ideas and theme, which is to inform the trend and insights of the live streaming industry. The first subsection details how the current market trend favors the consumer and is unfavorable to the supplier, whereas the second-to-last section explains possible predictions of the industry’s future. The overall content in this section is coherent and gives a good amount of insights into the live streaming industry in Singapore. Although precise and concise, the richness of content is not compromised and holds good depth for the reader to have a good understanding of the Singapore live streaming industry. The context is unbiased, informative, and reflective and greatly contributes to the purpose of the essay.
