What is the state of live video in 2017?

Since the introduction of Facebook live in the summer of 2015, it seems that live video's online popularity has really taken off. Live video offers a direct line into compelling, personal or behind-the-scenes content in a way that on-demand video simply doesn't. You've probably watched live video yourself, and statistics show that you are not alone. According to Statista, the top sites for watching and creating live video, as of November 2016, are YouTube, Facebook, Snapchat Live Stories and Twitter's Periscope (Since then, Instagram has also gotten into the fray with live video).

The amount of live video produced and consumed is staggering, and within its first year, the pioneering live video app Periscope had been used to create over 200 million live videos. Year over year, live video consumption and production has grown. According to a survey by LiveStream, 81% of respondents watched more online video in 2016 than in 2015. In the age group 18-34 in particular, live video is extremely popular. 63% of millennials have watched live video, as of November 2016, according to UBS, and 42% have created live video themselves.

Unsurprisingly, given the popularity of live video with consumers, brands' interest in live videos is increasing as well. Live video draws in more eyeballs than static images, and even more than on-demand video. According to Facebook, live videos are watched for three times as long as standard videos. Respondents to LiveStream's survey also stated a preference for live videos from brands over other marketing tactics. 80% of these respondents would rather watch live video from a brand than read a blog, and 82% would rather see a live video than another type of social media post.

Marketers are responding to this interest in turn. In a May 2016 survey of marketers from Social Media Examiner, 50% of marketers planed on creating live video on Facebook Live and Periscope, and 50% were interested to learn more about live video. We predict even higher numbers for 2017, as live video continues to grow. Have you utilized live video in your personal life or for your business?

The Top 5 Social Media Predictions for 2017

2017 is right around the corner - can you believe it? 2016 was a really big year for social media: Snapchat hit the mainstream, live video exploded, and Vine was shut down. So what does 2017 likely have in store? 

1. Prioritization of live video. Live video was only added to Facebook in August of 2015, but it made huge waves in 2016, both with users and companies. According to Buffer's 'State of Social Media' report, "Eighty-three percent of marketers also said they’d like to create more video content if they didn’t have restraints such as time and resources." Along with the current heavyweight Facebook Live, Twitter has Periscope, and YouTube has YouTube Live, all of which are attracting more and more viewers. Moreover, live video content across platforms may be one of the few ways to get increased organic reach, especially with the new Facebook algorithm, which emphasizes video content.

2. Increased adoption of Virtual Reality (VR). Between Oculus Rift, Google Cardboard, Samsung Gear and Sony Playstation VR, consumers have more ways than ever to bring VR into the home. In the coming year, consumer VR options will likely increase in quantity and lower in price. In 2017, I predict that VR may move from a cutting-edge entertainment novelty to a whole new social media platform with increased mainstream attention from advertisers and businesses alike.

3. Pay to play continues. Organic (meaning non-paid) reach is continuing to decline on the major social media networks, and I predict that this trend will continue into 2017. In 2016 alone, publishers' organic reach on Facebook fell a staggering 52%. In order to reach their audiences, brands and individuals will have to increasingly pay to use these native advertising platforms. According to Inc, "money talks."

4. Reigning in automated responses. Automation can be a boon, but take it too far and your audience will rebel. I predict a little bit of the personal touch returning to social media in 2017. In particular, users are showing frustration with automated responses in customer service interactions online. Twitter is attempting improve customer service online with new customer service features like listing customer service hours, and stating that customer service is a focus of the account. Maybe this will also be the end of the automatic direct messages when you follow certain people on Twitter?

5. Migration to private platforms. While still a popular platform, Facebook's demographic continues to age. As a result, younger users are increasingly migrating to private messaging and social media apps like WhatsApp and Snapchat to interact with their peers. Another mitigating factor for the switch to private networks is that users are now realizing the ramifications of sharing publicly-searchable information, and are seeking more privacy. One major difficulty for advertisers is that it is harder to measure reach and engagement on these apps. 

So what do you think? Are there any predictions you would add to the list?