Facebook Inc. is not going to give Twitter any breathing room in the battle for the live video streaming space. Facebook just removed the cloak that surrounded its VIP-only “Live” app. Twitter’s Periscope live-video streaming app was in the news yesterday after it hit a milestone of 10M signups in just four months. The tech space was abuzz with the huge growth numbers and analysts see a $17B per year revenue prospect in the app. Facebook doesn’t want Twitter to enjoy that $17B/per revenue alone.
TechCrunch reports that Facebook has confirmed that Live will stop being VIP-only and that journalists and verified profiles will be able to use the app. Facebook launched its Live App last week on Wednesday and things have been moving very fast. Facebook replied a request about when Verified Pages will have access to Live saying, “in the future, Mentions will be available to verified Profiles”.
Twitter now has a Facebook challenge on its hands
When the news about Periscope reaching 10M users was hot, Learn Bonds opined that Twitter’s Periscope might have beaten rival Meerkat but that Live is right on its heels. Facebook knows what it is doing, it wasn’t a mistake that Facebook started Live with VIPs – the endgame will see Facebook rolling out Live to all users in a move that will cut Twitter’s Periscope off at the knees and challenge Google’s YouTube for fresh content.
In a piece yesterday, it was said, “Meerkat might not pose seriously rivalry to Periscope but the same cannot be said of the “Live” mention app that Facebook launched for VIPs. Facebook has already signed up some big name VIPs to its live mention app who are indirectly working as brand ambassadors. Twitter’s Periscope needs to strengthen its position (and fast) before Facebook makes “Live” open to all its users”.
Facebook video already has a target on YouTube’s back
Facebook is serious about getting into the video ads race and the firm has been making smart moves – the recent of which is its Live app. Facebook video now delivers 4B views per day up from 3B views per day in January. An Ampere Analysis study shows that the firm is seeing massive growth in the new line of Internet online video ads.
Twitter might still have a start over Facebook Live but that status quo might not hold for much longer. The main reason Facebook has been able to steal market share in the video ads space from Google is the vibrant social network that Facebook has, which Google lacks. If it deploys Live to its 1.3B user base, it is doubtful that Periscope will have a chance with Twitter’s 300M users.