Summary
During the start-up period of the live broadcast industry in the past few years, the attention of live broadcast users has grown wildly, but the quality of users has been uneven. As the freshness of users passes, the churn rate becomes quite serious, and major platforms are doing their best to defend. However, retaining non-live audience users who "join in the fun" is not the most critical issue, but to find a commercialization path suitable for real live audience users in order to ensure the stability and prosperity of the industry. Therefore, we need to explore an effective commercialization model to ensure the long-term development of the product.
1. Overview of social live streaming products
Pan-entertainment social live broadcast products refer to social entertainment products based on social live broadcast, combined with entertainment elements and gamification design. Its product form is characterized by interactivity and sociality. Its core functions include: real-time live broadcast, interactive communication, rewards and gifts, game competitions, entertainment programs, etc. Through the live broadcast platform, users can watch and participate in entertainment live broadcasts, game competitions, etc., interact, communicate and compete with anchors and other viewers, and support favorite anchors or obtain rewards through rewards and gifts.
The pan-entertainment and social industry industry map includes three layers: application layer, technology layer and hardware layer. Taking live chat products as the main representative, its performance at the technical level directly determines the user experience and commercialization capabilities of the product. The importance of the technical level is reflected in: live streaming fluency, social interaction, security, etc. The leading audio and video manufacturers include: Tencent Cloud ( https://cloud.tencent.com/ ), Zego Technology ( https://www.zego.im/ ), Alibaba Cloud ( https://www.alibabacloud. com/zh ), etc.
The social live streaming market is highly competitive, and the main leading platforms are Kuaishou, Douyin, YY and Douyu. Emerging social live streaming products such as Station B and Inke are also gradually emerging. Traditional video platforms have also begun to join the field of social live streaming. The current market structure presents a trend of head monopoly. In the future, competition will become more intense, and the entire industry will become more diversified and segmented.
2. Commercialization model of social live streaming products
Social live broadcast products want to stand out and succeed in the fierce market competition, to ensure the stable development of the product, the satisfaction of user needs, and the profitability and survival of the company. Commercialization is inevitable and crucial.
The commercialization model of live chat products mainly includes four main methods: advertising revenue, paid membership, virtual gift revenue, and anchors bringing goods.
1. Advertising revenue model : The live broadcast platform earns revenue by selling advertising space to advertisers. This model is suitable for live broadcast platforms with a large number of users and high brand awareness, such as Douyu TV and Huya Live.
advantage
• Advertising fees are a steady source of income;
• Users can obtain certain benefits by promoting the brand, increasing user participation and stickiness;
• The platform can obtain a certain proportion of advertising costs to increase revenue;
shortcoming
• Too many ads, which may affect user experience
2. Reward mode: In social live streaming products, viewers can tip the host in the form of virtual gifts or real currency, and the live broadcast platform draws a certain handling fee as a source of income for the platform. This model is suitable for live broadcast platforms with high user stickiness and strong social atmosphere, such as Bilibili and Kuaishou.
advantage
• Users can express their love and support for the anchor by purchasing virtual gifts, increasing user participation and stickiness;
• The anchor can obtain certain income by selling virtual gifts, which can increase his enthusiasm for creation;
• The platform can obtain a certain percentage of share from gift sales to increase revenue.
shortcoming
• The income from gift sales is affected by factors such as the anchor's appeal and user activity, which is unstable.
• Users' willingness to pay is limited
3. Paid subscription model: The live broadcast platform provides users with paid subscription services, and users can obtain more privileges and benefits through paid subscriptions. This model is suitable for live broadcast platforms with high content quality and clear user needs, such as Douyu TV and YY Voice.
advantage
• Users can obtain more exclusive content by subscribing to improve user participation and stickiness;
• The anchor can obtain a certain stable income through subscription fees, which can increase his enthusiasm for creation;
• The platform can obtain a certain proportion of the subscription fee to increase revenue, and the income of the subscription model is relatively stable.
shortcoming
• It is necessary for the platform to continuously update content to maintain user stickiness
• Users' willingness to pay is limited
4. The business model of anchor delivery: anchor delivery is a popular commercialization model in recent years. The host can introduce and display products in the live broadcast, and users can directly purchase online. The live broadcast platform obtains certain income from it. This model requires the live broadcast platform to provide high-quality commodity resources and anchor resources to attract users to buy commodities.
advantage:
• The anchor can directly recommend products to users, increasing the decision-making and trust of users in purchasing;
• The anchor can obtain certain income by selling goods, which can increase his enthusiasm for creation;
• The platform can obtain a certain proportion of share from the sale of goods to increase revenue.
shortcoming:
The anchor needs to have certain professional knowledge and skills, and needs to invest a certain amount of time and energy; the
income from product sales is affected by factors such as the anchor's appeal and user activity, which is unstable.
3. The tipping model is the most important monetization model for real-time social networking
The reward and virtual gift model is one of the main profit methods of social live broadcast products at present. In the context of real-time social networking, tipping and virtual gift models have unique advantages. The value model of tipping is essentially to exchange benefits by providing companionship, social and hormonal value. Through rewards and virtual gifts, viewers can establish a closer relationship with the anchor, thereby bringing more income to the live broadcast platform. At the same time, tipping can also stimulate the enthusiasm and creativity of the host, and promote the interaction and social interaction between users and the host.
According to TME's annual report data, virtual gifts and rewards account for the largest proportion of revenue. NetEase Cloud Music’s live broadcast business revenue has increased by nearly 3 times year-on-year. Among them, virtual gifts and rewards also account for a very high proportion of revenue, which once again proves that rewards and virtual gifts are one of the main profit models for live broadcast products. Soul, an emerging music social live broadcast application, its reward and virtual gift business model is also the main profit method, its monthly income has exceeded 100 million yuan, of which virtual gifts and rewards accounted for more than 60% of the revenue %.
4. The pain points and solutions of the monetization model of live chat products
In the user path of the entire live chat product, the commercialization model runs through all aspects, involving product development, user growth, profit model and other aspects. The user path of live voice chat products includes user registration, following other users, participating in voice chat rooms, giving gifts and rewards, sharing and inviting, etc. Users can quickly find the rooms and hosts they are interested in and participate in them, realizing interaction and communication with other users.
The user path of live broadcast products: user registration and login-browse or search for hosts or rooms-join the chat room for chat and interaction-purchase virtual gifts for rewards-share the room-participate in other activities and tasks-end
The business model for the commercialization of live chat products includes traffic acquisition, user acquisition, social precipitation and payment conversion. With increasingly fierce competition, there are pain points and difficulties in every link.
• Traffic Acquisition: The cost of buying traffic in the social networking industry continues to rise, but the user cost exceeds 30 yuan
• User acquisition: Real-time scenes lacking high-quality content make it difficult for users to play, resulting in the loss of new users.
• Social precipitation: The lack of rich gameplay in social scenes prevents users from generating effective interactions, resulting in high exit rates and low retention rates.
• Paid conversion: The head PGC represented by the guild accounts for more than 80%, and the high PGC share leads to high platform costs.
In the commercialization process of live chat products, it is necessary to comprehensively consider and formulate a scientific and reasonable commercialization strategy to overcome pain points and achieve commercial success. The following is an optimization strategy suggestion for the pain points of the four links. If the product has related business process problems, you can refer to optimization.
| business model | describe | Pain points | Optimization Strategy |
|---|---|---|---|
| traffic acquisition | Pulling new ones through distribution and other channels | The cost of buying volume in the social industry continues to rise, but the user cost exceeds 30 yuan | Choose appropriate promotion channels, such as social media, industry media, search engine optimization, etc., to increase product exposure and user visits. In addition, some incentives such as discounts and gifts can be provided for new users to attract users to download, register, and use the product. |
| User undertakes | The content or gameplay that a new user enters the app to undertake in real time | Real-time scenes lacking high-quality content make users unable to play, resulting in the loss of new users | Provide better content and services to improve user satisfaction and stickiness. For example, to provide more diversified content, richer interactive functions, more personalized services, etc. At the same time, through user research, data analysis and other means, we can understand user needs and feedback, and optimize products in a timely manner. |
| social precipitation | Guide users to establish social behavior through the design and promotion of the social function of the product. | A social scene that lacks rich gameplay makes it impossible for users to interact effectively, resulting in high exit rates and low retention rates. | Provide more social scenes and functions, such as social groups, social games, social activities, etc., to enhance users' social interaction and stickiness. In addition, through user data analysis, users' social behaviors and habits can be understood, and social scenarios and functions that better meet user needs can be launched in a targeted manner. |
| paid conversion | Through the relationship chain, PK, and probability games, guide users to draw prizes and rewards to obtain profits | The head PGC represented by the guild accounts for more than 80%, and the high PGC share leads to high platform costs | Provide more valuable paid services and virtual goods, such as high-quality courses, exclusive benefits, virtual gifts, etc., to improve users' willingness to pay and satisfaction. In addition, flexible charging strategies can be adopted, such as membership system, pay-as-you-go, etc., to meet the needs and consumption habits of different users |
5. Application Scenarios and Technical Requirements of Live Chat Products
In the current market environment, the competition in the pan-entertainment and social networking industry is very fierce. In order to attract more users, many companies are constantly innovating and developing more interesting scenes and functions. For example, scenes such as mini-games and game blackouts allow users to enjoy more entertainment experiences while socializing. The functions of cross-room PK and 1V1 speed dating put more emphasis on social interaction and competition, helping the platform to obtain more income.
| type | Scenes | feature | Technical requirements |
|---|---|---|---|
| Show Live | Focus on single-host live broadcast, infrequent interaction with viewers, text interaction is possible, and viewers pull streams from CDN. Common scenarios include show live broadcast and e-commerce live broadcast. | The content of the live broadcast is diverse, such as appearance, talent, outdoor, and delivery of goods, etc., and fans can be obtained by paying attention to form a group | High image quality guarantees fluency and content review of beauty function. Audience Audio Microphone Management Viewer Push-Pull Streaming Strategy Cross-room PK Recording Screenshots. |
| 1V1 audio and video dating | 1v1 is one of the most widely used scenarios, including speed dating, private video chat, ordinary video calls (medical consultation, access control, AI robot shopping guide, real estate, interviews) and so on. | Since 1v1 has no audience scene, the general type of dating is matched with a single payment or membership fee for matching and chatting; the application in the ordinary video call scene is mainly application-oriented and functional products. | Speed dating in seconds Open billing strategy Beautification function Content review Stream name list Maintenance Recording screenshots |
| Multiplayer live streaming | Multi-person video co-hosting includes: online If You Are the One, video dating, multi-host co-hosting and other scenarios. | Mainly use interesting topics and talent shows in the anchor room to get fans' rewards. If you are the one online, fans will be eliminated to reward girl guests, and alternate female guests will take the top spot. | High image quality guarantee fluency guarantee beautification function Mixed streaming strategy audience mic strategy multi-anchor position management recording screenshot content review |
| PK across rooms | PK is currently one of the most popular ways to attract money. It generally includes gift matching, continuous screen PK, mvp battle, screen dominance moment, multiplayer pk, etc. | The featured gameplay is mainly based on audience rewards, in various forms, showing the list of audience support, and the anchor who has received the most rewards will occupy the entire screen for 5-10 seconds, which will further stimulate the audience in the anchor to give rewards to the anchor. | PK pull stream seconds to open remote video stream mute beauty function mixed stream strategy CDN priority stream name list maintenance recording screenshot content review |
6. Pan entertainment social 2.0 solution
In the field of social live broadcast products, optimizing user experience is a key element in the commercialization process. This includes not only product function design and operational strategy design, but also technical experience. In order to achieve these goals, companies can concentrate on business-related products and operational strategies, while outsourcing technology and solutions to professional manufacturers. This increases the stability and reliability of the product, thereby improving user experience and satisfaction. In addition, with the continuous development and changes of the pan-entertainment social networking industry, the company also needs to pay close attention to industry trends and the dynamics of competitors, and adjust product and operation strategies in a timely manner to maintain competitive advantages and market leadership.
In the industrial chain of the pan-entertainment and social networking industry, the technical layer is a very important link. The technical layer includes audio and video processing, data transmission, cloud computing and other technologies, which provide more stable and efficient services and support for live chat products. For example, audio and video processing technology can guarantee the sound and picture quality of users during the live broadcast; data transmission technology can ensure the rapid transmission and stability of data during the live broadcast; cloud computing technology can provide more flexible and efficient resource management for the live broadcast platform and scheduling.
Take the audio and video manufacturer Zego Technology as an example (< https://www.zego.im/ ), based on 7 years of experience in the pan-entertainment industry, Zego has upgraded the previous pan-entertainment gameplay and launched the "Pan-entertainment Social Game 2.0 Solution " , will help pan-entertainment companies build differentiated competitive advantages from different dimensions such as novelty, richness, and personalization, and continue to achieve effective breakthroughs in user growth, activity, and retention. >
In the past, the company’s live broadcast project had access to instant RTC products, the access process was convenient and efficient, and the real-time audio and video services were smooth and stable. If your project needs a stable and convenient audio and video service, you can go to the official website of Zego to contact the relevant business (click here < https://www.zego.im/ ). According to the official website of Instant Technology, based on nearly 20 years of technology accumulation and experience accumulation of a large number of users, it provides more than 10 kinds of pan-entertainment industry solutions such as chat rooms, show live broadcasts, online KTV, social + small games, and watching together. According to the plan, 70% of the top players in industries such as Inke Live, TT Voice, and Soul have chosen to connect and build. As early as 2019, the average daily audio and video interaction time has exceeded 6 billion minutes, leading the industry. As a leading manufacturer of audio and video technology, it has continuously polished and precipitated market-proven gameplay and content, helping many companies to quickly achieve product retention and revenue growth. >
That is to say, the pan-entertainment social 2.0 solution
At present, iGoupan entertainment social gameplay 2.0 has covered various solutions such as "social + games", "social + karaoke + copyright", "virtual live broadcast", "interactive quiz", "virtual image", etc., which can help pan Entertainment companies launch new gameplay in a very short period of time.
Social + online karaoke solution ( https://www.zego.im/solution/ktv )
Support solo, round, chorus, offline OMO karaoke and other playing methods, and quickly build an online K karaoke room with a large library of genuine songs.
Social + mini game solution ( https://www.zego.im/solution/entertainmentgames )
Provide real-time PVP, voice interaction, board games, show interaction and other types of small games in the live broadcast room to help customers improve product activity, retention, usage time and revenue.
社交+avatar（https://www.zego.im/solution/metalive）
The new live broadcast method, virtual images replace real people to create a different live broadcast experience, support facial expression follow-up, gesture recognition to trigger special effects and other playing methods.
Solution technical advantages
That is, audio and video technology provides real-time interactive technical services from the dimensions of global node coverage, weak network transmission optimization, low-end model optimization, and sound quality 3A processing.
| Scenes | Advantage | Technical Highlights |
|---|---|---|
| language chat room | Super high fidelity sound quality | Clear sound quality: self-developed 3A algorithm sound quality tuning, providing clear and high-fidelity sound quality experience Personalized processing: support voice changing, stereo, reverberation sound effects, game voice module provides range sound effects, 3D sound effects, team voice. |
| low latency | Full link latency optimization, ultra-low latency of different networks, models, and platforms, up to 76ms | |
| Anti-weak network | Anti-weak network, the world's leading 80% uplink or downlink packet loss, can maintain smooth audio calls, 90% uplink or downlink packet loss, 70% can not drop | |
| Anti-fried wheat | Stream-level anti-explosion microphone, strong verification of business microphone status, push stream authentication, background kicking logic | |
| Live/Multiplayer Video | Clear picture quality | H265 encoding use |
| smooth video | Protocol optimization improves weak network resistance | |
| seconds open | Live audience instant open optimization, 1V1, multi-person video room instant open | |
| flexible | Powerful cloud mixing support, multi-room complete signaling support | |
| super resolution | The self-developed super-resolution algorithm improves the X2 resolution, and the actual measurement results are in the leading position in the industry. |
Immediate full-link solution to increase the revenue of live broadcast products
Taking the 1v1 scenario as an example, the user path is broken down into four stages: matching-connection-transaction-settlement. That is, Gou provides a 1V1 scenario full-link solution for each link to help the refined operation of live broadcast products. Reduce the transaction discount rate and realize the growth of the total revenue of the enterprise.
That is to construct a social 1V1 scene solution, improve the conversion rate of each link, and provide all-round support. It is the common choice of many top products in the pan-entertainment social industry.
1. Matching scene: Real-time scene matching has a high conversion rate.
That is, a fast solution for multi-real-time scenarios ensures extremely fast connectivity at both ends and reduces the rollout rate.
2. Receiving orders: The completion rate affects the conversion from the beginning of the order
The second-open solution enables 95% of the rooms to be connected within 2 seconds, and the conversion rate increases by 25%.
3. Trading scenarios: the key to increasing ARPU
Stable network guarantees the basic experience in the scene, the mini-game play increases the duration of the two parties, and adds additional payment points.
4. Settlement: affecting customer experience and repurchase
The special settlement plan guarantees fair settlement between the anchor and fans.
7. The future trend of commercialization of live chat products
With the gradual maturity of the live chat product market and the continuous changes in user needs, the commercialization model of live chat products will also undergo some changes in the future.
1) The content payment model will become more popular, and users can obtain higher-quality and professional content services through live broadcast products.
2) Live broadcast products will pay more attention to user experience and interaction, provide more social interaction scenarios, and enhance user stickiness.
3) Live broadcast products will pay more attention to personalized and diversified services, and provide more different live broadcast themes and forms to meet the diverse needs of users.
4) The application of new technologies will make live broadcast products more intelligent, such as the application of technologies such as artificial intelligence and virtual reality, which will bring more innovation and development to live broadcast products.
In general, the commercialization model of live chat products will continue to evolve and improve to adapt to user needs and market changes, and bring more high-quality, interesting and valuable live content and services. In the future, the commercialization trend will become more and more obvious. Live broadcast technology service providers will provide more opportunities for social live broadcast to achieve commercial profitability by providing technical support, data analysis, product upgrades and other means.