Social media is fickle - and so are its users but the newest social media app in the spotlight brings together two things that people love - video, and the lack of permanency that works so well for Snapchat.
Periscope was bought by Twitter before its launch in Feb 2015 - with 39% of people surveyed by Sensis stating that they have stopped using Twitter in the last year and with Twitter's shares dropping. In an effort to get out of the rut Twitter have been adding new updates as fast as possible, but to no avail - in the last quarter of 2015, new user signups ground to a halt- it's panic stations over at Twitter HQ.
The mass appeal of Twitter doesn't seem to be there like it was for Facebook and even Instagram with businesses, celebrities and media outlets being the most active on the Twitter platform. In comparison to Facebooks' 1.59 billion users and Instagrams' 400 million, Twitter's (stalled) 320 million users pales in comparison. Facebook bought Instagram to keep up its momentum, as the new photo sharing platform was denting their share of the photo sharing market - if you can't beat them, buy them.
Did Twitter buy Periscope in an attempt to do the same? Will Periscope be Twitters’ Instagram and reignite people's interest?
Periscope - The Quick Facts!
How it works:
It’s your own personal broadcast station, so you can stream whatever you like - it's along the same lines as Snapchat creating content with an expiry.
But how do people find you?
And now the all important question - Will it be Popular?
It’s shiny, it’s new and if there’s one thing that huge socials like Twitter and Facebook know - it’s that people like shiny. They also know that if they aren’t on top of the little guys the little guy has the ability to come up and knock the status quo social out of the way taking users where the grass is greener (its why Facebook bought Instagram in the first place).
Some businesses have jumped on board, seeing it as an opportunity to stream events and exclusive experiences to their followers, with real time engagement. Periscope requires marketing teams to work quickly and have the ability to ‘let go’. One of the biggest drawbacks for brands using Periscope is the lack of control they have over comments that come up on the screen during the stream - only takes one bad apple to spoil the lot - but on the other hand you have the ability to capture attention at a very low cost and get real time feedback.
As for the Average Joe user, looking at the popularity of Snapchat with over 200 million users sharing 8,796 photos per second and 6 billion daily video views - it’s safe to say that even though Snapchat is only 3 years old (launched end of Sept 2011) it’s similarities to Periscope are inescapable - the concept of 'instant' and use of video which is undoubtedly the most engaging type of content.
Looking at the latest data though, there are 10 million people signed up to Periscope in a year - but there are only 2 million daily users. This could mean that either people aren’t sure how the platform works and it isn’t as easily integrated into everyday life as say Snapchat, or the users who have signed up are occasional or corporate users. The amount of consumed content daily is astronomical however, with 400,000 hours of video streamed each day. It really could go either way.
We will certainly be watching Periscope to see if it is taken up by the masses and how they use it - and of course if it will bolster Twitter as the parent company.
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