LinkedIn, is widely recognised as the social network for the working world used by around 600 millions user around the world,LinkedIn CEO recently affirmed that video is the fastest and growing format on its platform alongside written content, shared news and other format.
The company is launching live video, giving people and organizations the ability to broadcast real-time video to select groups, or to the whole community at large.
Initial live content that LinkedIn is broadcasting lines up with the kind of subject matter you might already see in Your news feed and the plan is to cover conferences, product announcements, Q&As and other events led by influencers and mentors, office hours from a big tech company
earnings calls, graduation and awards ceremonies and so on.
In its first phase LinkedIn has selected several third-party developers of live broadcasting streaming services that creators will work with to create and post more polished live video on LinkedIn.
These include Wirecast, Switcher Studio, Wowza Media Systems, Socialive and Brandlive.
Compared to its competitors in the social networking sphere, LinkedIn has been a late bloomer when it comes to video when competitors were already keen in 2017.
But in the 17 months since launching video features, LinkedIn has seen a big boost in traffic and revenues from (non-live) video on its platform.
According to Davies, Live has been the most requested feature as other social platforms users can “like” videos as they are being broadcast, with the likes floating along the screen. Viewers can ask questions or make suggestions in the comments in real time and hosts can moderate those comments in real time, to remove harassing or other messages.
There may be another reason beyond user requests for why LinkedIn is expanding video: it’s proving to be a strong engine for engagement and revenue growth at the company.
So far, the only monetization that LinkedIn has introduced around video is for video advertising. With LinkedIn Live, there is a clear opportunity for the company to explore other ways of monetizing the content beyond ads. For example, it could charge viewers for unique experiences like conferences, or make certain Live events part of the company’s paid tier to lure in more premium subscribers. On the part of the broadcasters, it could potentially provide fee-based services to provide a platform to broadcast certain content like video-based earnings reports.
This is certainly a great opportunity for company to create high quality content but also to increase engagement, reinforce their identity and custumer relationship management.
No doubt that this is great tool both for LinkedIn in order to monetize content and increase source of revenue and for brands too, who would be able to attract professionals potentially interested in joining the company but also a way to spread the conversation around the company actions itself or a way to spread and share innovation.
This is a great tool that companies should not underestimate especially now that being active on social media is a must.