Live-streaming sector grows 45% amidst Covid-19: Survey
A comprehensive survey of The State of Global Streaming in 2020 by Payoneer, a financial services company, has highlighted that the live-streaming market is expected to grow to $184.3 billion by 2027.According to another research by Grandview, the market for live-streaming in 2019 stood at $42.69 billion.Payoneer’s survey provided an insight into the impact of the ongoing pandemic on the growing industry of live-streaming and its earnings. According to the survey, since the height of the Covid-19 (March-April 2020), the live-streaming sector grew by 45 per cent. Specifically, in mid-March, Twitch and YouTube Gaming’s viewership increased by 10 per cent and 15 per cent respectively. Further, it provides an insider view of benefits from live-streaming for creators and their belief on the prospects post-pandemic.While 62 per cent of the streamers expect their earnings to grow by the end of Covid-19, 38 per cent expect their earnings to increase during the pandemic; only 11 per cent believe that their earnings will decrease. TikTok, one of today’s most popular video-sharing social platform, saw an 18 per cent week-on-week increase in US downloads alone. This comes at a time when the US Senate has banned the use of the app for federal workers.