Whether it’s gaming or IRL content, esports tournaments or podcasts, livestreaming has kept millions of us entertained especially over the past two years of lockdowns and isolations. But, with this massive growth, there is also the need for innovation – where can streaming go next?
The last two years have been hard on everybody, with the deterioration of in-person contact having a serious impact on all facets of life, including mental health.
Thankfully, the rise of livestreaming platforms and social media throughout this time has allowed us to keep our connections to one another and overcome some of the obstacles set before us.
This has also led to the meteoric rise of Bigo Live, the social media and streaming platform, quickly becoming the global leader in live streaming entertainment. But what makes Bigo stand out?
Bigo Live allows its users to connect to like-minded creators and share their lives in unparalleled ways, really not found on any other platform.
The live streaming app hosts creators streaming gaming, cooking, try-on hauls, musical and artistic talents, or even host their own panels for debates and discussions, all powered by the overall mission to keep people connected.
Notably, Bigo Live is a pioneer in the creator economy – a place where broadcasters can make a significant income each month by utilizing gifting features.
In 2021 alone, Bigo Live has helped over 500 broadcasters achieve over 1 million followers each, and it ranks top 2 according to App Annie’s 2021 Top Breakout Social Apps by consumer spending, living proof of this robust creator economy.
Further, driving Bigo Live’s philosophy is a “giving cycle” with users and creators, highlighting their CSR, or ‘Corporate Social Responsibility’ – reflected in the fundraising efforts they’ve achieved.
In 2021, Bigo Live donated $100,000 and partnered with several nonprofits including Living Beyond Breast Cancer, The Trevor Project, Hope for Haiti, Be Someone, and the California Asian Pacific Islander Legislative Caucus.
Now with over 400 million users in over 150 countries, Bigo Live is bigger and more global than ever. But, there are big competitors too, meaning there must be an edge to keep the platform evolving.
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Fans Group: A Unique Way to Connect with Fans
A new feature called Fans Group has been introduced to Bigo Live, to allow streamers to build a better connection with their fanbase, and monetize their content. Hosts can create content ‘tiers’ that their fans can subscribe to each month.
Fans Group can be enabled through profile settings, and creates a personalized code for their followers to enter. From there, creators can set up different levels of subscription tiers and create the name and price for each tier.
Tier-leveled subscription options is not a unique feature on its own, but embedding them within livestreaming content is an innovative approach to fan engagement.
Bigo Live as The Virtual Home
Bigo Live is also looking to redefine how we interact within the digital space. It allows a “many to many” connection, where users can interact with others in an immersive way in the virtual world.
Users will have the ability to represent themselves through a digital avatar created on the Bigo Live app, and be a part of a digital economy.
Broadcasters can show other facets of themselves, connect to a global audience that would not be possible in ‘reality’, and interact and express themselves through their virtual identities.
The virtual home that Bigo Live creates is also enhanced by a unique component called “Family,” which offers users the opportunity to create like-minded groups or communities. For example, a group of gamers can create a Family to discuss, play, and even compete in livestream gaming challenges. Members of the Family support each other through continuous discussions and engagement. Family groups give users an opportunity to surround themselves with like-minded individuals which contribute to the promise of a preferred reality.
BIGO Awards Gala
Bigo Live provides new revenue streams for social media influencers through its gifting feature and partnerships. With Fans Group and the Metaverse, the platform is able to offer even more ways to earn and expand on content by offering personalized avatars, photos and videos, giveaways, early access to merchandise, live shoutouts, and in-person events.
It is the only social media platform that hosts its own awards gala each year. Bigo Live held its third annual BIGO Awards Gala at 4AM PST on January 14, to highlight the platform’s rising creators. The event will feature dozens of broadcasters being recognized and awarded.
Bigo Live in 2022: More to Expect
Bigo Live has gone from strength to strength in the past 12 months, becoming a cultural phenomenon, and 2022 is shaping up to be a massive year for the platform.
We’ll grow diversified communities, and create new opportunities and methods by which to benefit a creator’s output through a creator economy.
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