Livestreams: Next big YouTube bet?

The company that pushed podcasts from our earbuds to our television screens is making another wager.

- JESSICA TESTA

YouTube believes livestreaming is “at a similar inflection point” as video podcasting was roughly four years ago, and is primed to become a “cultural phenomenon,” said Toni Reid, a vice president of product management at the company.

On Tuesday, the platform announced its most significant product updates to livestreaming since late 2013, when it began offering creators the ability to broadcast in real time. The updates make it easier for novices to start streaming, for experienced streamers to try new formats and for everyone to make more money from advertising.

YouTube's vote of confidence is yet another sign of the appeal of live programming to new media companies, whether through promoting user-generated content, or buying up broadcast rights for Formula 1 races or awards shows. Platforms want to maximise active screen time; YouTube's biggest competitor, Netflix, is also chasing glory in live sports and competition events. (YouTube just aired its first National Football League game.)

More than 30% of YouTube's daily registered visitors watch some live content, according to the company. It's the most popular platform for livestreaming, followed by TikTok, Twitch, Kick and Rumble.