Facebook, Inc. FB has taken a lead in live streaming videos by expanding the feature to Facebook pages for verified accounts on iOS.
In August, the feature was launched on a small scale, allowing only public figures to access live stream (through Facebook Mentions). Earlier this month, the feature was made available for all users. Now the company has even brought verified Pages under its fold.
However, for now, only Pages on iOS can make use of this technology as the Android update for the same is still in the pipeline.
This is an interesting move by the company as it is gradually expanding its video features to bring in more ad dollars. Live streaming on Pages will offer companies/brands and even organizers an innovative way to reach their subscribers. Moreover, they will also have access to some important statistics like the number of users tuning in for their streaming (including the names of verified Pages and people) and even the comments that are posted during the broadcast.
Facebook is not the first mover in this domain. Live video streaming gained ground with players like Meerkat and Twitter’s TWTR Periscope venturing into the market. In fact, Facebook had even partnered with Meerkat back then to gain an edge over Twitter. Rumors about Facebook acquiring Meerkat had resurfaced some time back but the deal did not materialize.
Now that Facebook has launched its own live video streaming service, it may be expected to outdo its rivals as advertisers are increasingly going for these innovative technologies to market their offerings. Another positive for the company is that its live stream videos can also be published on News Feed for later views. Also, people will have an option to get notifications when a brand or a company broadcasts its next video.
Over the past few quarters, Facebook has taken a number of small yet strategic initiatives to get involved in people’s daily lives including options like Autoplay videos and a new app for notifications called Notify. It has also been testing a dedicated section for watching videos on Facebook. In addition, the company is also taking initiatives to provide free Internet in emerging nations under its Internet.org program. Such initiatives are expanding the reach of this social media platform.
All these things are making the company a formidable force and the ‘go to’ place for advertisers. Not only does it have the tools to create brand awareness but it also allows users to interact with brands and get the latest updates while discussing everything with their own network.
Videos are turning out to be an important tool for social media companies as they are more immersive. Already, the platform is posing competition (in terms of ad revenues from videos) to established players like Alphabet’s GOOGL YouTube.
Facebook currently has a Zacks Rank #2 (Buy). Another tech stock worth considering is MeetMe, Inc. MEET, which sports a Zacks Rank #1 (Strong Buy).
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