It’s a fair observation. I also notice a decline in the numbers of people staying to watch livestream shows. Although, I understand they love watching videos under three minutes. Plus, the mainstream media with real broadcast content have found their way in the live streaming business.
As someone who have seen the best and the worst in the business of live streaming of shows in the Philippines, I can tell you some insights to help you understand the entire picture.
In August 2018, two years before the pandemic, a company called Quibi was founded as NewTV in Los Angeles. It was an American short-form streaming platform that generated content for viewing on mobile devices. Their service managed to raise $1.75 billion from investors. It was officially launched in April 2020 but was shut down in December 2020.
A company with more than enough money backed by Hollywood stars with more than enough technology firepower folded in a matter of months? Surprise! It did happen.
What’s the chance of success for your planned live stream project? You can tell because based on what we know now, it’s sure going to be short-lived. This is not to discourage you but I have been there. And I’m glad I left.
To make up for this ugly truth, you may be tempted to sugarcoat your numbers. You may resort to Facebook Live boosting. Yes, you can buy “viewers” that makes your live stream show look “being watched” by 100 people. But after one hour, for example, you will notice the viewers to be left with only one or three “real” viewers.
This is a verifiable fact that explains the number of engagement doesn’t match the number of views. Imagine 5,000 views with only 10 comments or 50 reactions on Facebook. Imagine the same material with less than 10 views on Youtube.
I call this a business built by lie. Any business must not be founded on deceit. You don’t conceal information from people who deserve to know everything before you entice them to invest their money, time, and talent in your business.
But desperate people in desperate times really call for desperate approach. It only gets uglier and uglier. It’s a mess that becomes even messier than what it already is. In other words, it’s dead end down the stretch.
Quibi, as a professional live stream business, knew the right thing to do. If it has to be shut, so be it. They did. And everybody involved in the business was able to move on smoothly—surely not perfectly, but smoothly. That’s what real professionals do.
What the amateurs do, on the other hand, is to cover up for the truth by a series of lies. When people said “numbers don’t lie,” don’t believe it easily. These days, numbers do lie. Numbers are something desperate people get so itchy to buy. On the other hand, engagements do tell the truth.
We know if there are people watching us, following us, and patronizing us. We know when people are interested or not. Try to post an announcement, boost it to have thousands of reactions, and then look at the comment section. You may also look at the “share count” to see who are sharing the post.
Anything less than 10 reactions out of, say, 10,000 reactions? Less than 100 shares out of the same number? Check who the “sharers” are, too. It will surprise you who these people are. In social media, there’s this thing call “trolling.” Check that out as well.
Once you’ve seen it, there’s nothing more to discuss. Everybody knows what these numbers mean.
You don’t want to be involved in this kind of malpractice, unprofessionalism, or maybe even scam-like activity, do you? Thus, if you are thinking of venturing into this kind of business, you might want to establish yourself as someone with the purest of intentions.
Trust the organic and the natural way of growing your live stream platform. Develop your following authentically. Don’t cheat the people who trust you. Don’t sell something that doesn’t exist. Tell them everything they need from the start. Take responsibility for your failure. Don’t defend your lie with another lie. Be courageous enough to face the music. Stop dancing when needed. Give up even before you get started.
Oh, did I hear, “There’s no harm in trying?” What they didn’t tell us was it already harmed many people before you do. In the end, a business built by a lie is a business bound to die. Maybe not today, but, one day.