Apr 28, 2022 (Financial News Media via COMTEX) -- Palm Beach, FL - April 28, 2021 – FinancialNewsMedia.com News Commentary – Over the past several years many social media apps have become household words around the world. They have led to many social changes... and make the world a bit smaller. The internet has become (almost) available everywhere and social media apps lets individuals tune into and get onboard the same place, even if they are around the world. The apps let you chat, let you see and hear, let you share video... and whatever is coming down the road next. Livestreaming seems to be that next biggest growing path. An article in TechCrunch recently pointed out that the livestreaming boom is driving a significant uptick in the creator economy consumers has spent $6.78 billion in social apps in 2021 and that figure will grow to $17.2 billion annually by 2025, according to data from mobile data firm App Annie, which notes the upward trend represents a five-year compound annual growth rate (CAGR) of 29%. By that point, the lifetime total spend in social apps will reach $78 billion, the firm reports. The Annie report said: "Today, the apps that enable livestreaming are outpacing those that focus on chat, photo or video. This is why companies like Instagram are now announcing dramatic shifts in focus, like how they're "no longer a photo sharing app. " They know they need to more fully shift to video or they will be left behind. The total time spent in the top five social apps that have an emphasis on livestreaming are now set to surpass half a trillion hours on Android phones alone this year, not including China. That's a three-year CAGR of 25% versus just 15% for apps in the Chat and Photo & Video categories, App Annie noted. Active companies with recent developments in the industry include: Hello Pal International Inc. (otcqb:HLLPF) /zigman2/quotes/206713317/delayed CA:HP -10.00% , Roblox Corporation /zigman2/quotes/223883423/composite RBLX +4.73% , Netflix, Inc. /zigman2/quotes/202353025/composite NFLX +0.21% , fuboTV Inc. /zigman2/quotes/201214080/composite FUBO +7.08% , Roku, Inc. /zigman2/quotes/205087179/composite ROKU +6.48% .
"Apps that offer livestreaming as a prominent feature are also those that are driving the majority of today's social app spending, the report says. In the first half of this year, $3 out every $4 spent in the top 25 social apps came from apps that offered livestreams, for example. During the first half of 2021, the U.S. become the top market for consumer spending inside social apps, with 1.7x the spend of the next largest market, Japan, and representing 30% of the market by spend. China, Saudi Arabia and South Korea followed to round out the top 5. While both creators and the platforms are financially benefitting from the livestreaming economy, the platforms are benefitting in other ways beyond their commissions on in-app purchases. Livestreams are helping to drive demand for these social apps and they help to boost other key engagement metrics, like time spent in app."
Hello Pal International Inc. /zigman2/quotes/206713317/delayed CA:HP -10.00% (otcqb:HLLPF) BREAKING NEWS: Hello Pal Announces Milestones for Overseas Livestreaming – Hello Pal International Inc., a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce key milestone achievements for overseas livestreaming outside China.
Over 50,000 live streamers in United Arab Emirates, Saudi Arabia, Egypt and Bahrain.
Immediate expansion of livestreaming planned for neighboring Middle Eastern countries.
Key livestreaming metrics, such as usage, hosts and gift givers, is nearly double overseas as compared to China.
Live streamers consist of a globally diverse user base from over 180 countries.
KL Wong, Chairman and CEO of Hello Pal states, "Our marketing and technical team made incredible gains in expanding our user base in the Middle East during the last year. Livestreaming activity has exceeded our expectations in outside China as certain key metrics represent nearly two-thirds of activity. Our focus will now shift to expanding in the same way in other parts of Southeast Asia, other Middle Eastern countries, and India."
Over the last year, Hello Pal assembled a robust marketing team to enter into and grow livestreaming in United Arab Emirates, Saudi Arabia, Egypt and Bahrain. The focus of the marketing team was to utilize their established network of live streamers. By utilizing an existing network of streamers, an existing user base was immediately available to watch and reward the streamers.
Since the launch, the total number of live streamers has grown to 50,000 in the Middle East, which is over double the total number of live streamers in China. Additional key metrics that show the success of Hello Pal's growth plans overseas include:
Overseas livestreaming time of 2000-2500 hours per day versus China livestreaming time of 1000-1200 hours per day.
Overseas hosts of 1000 per day versus China hosts of 500.
Overseas daily gift givers of 1200 per day versus China daily gift givers of 700 per day.
Given the success of this strategy, Hello Pal intends to implement this strategy in neighboring Middle Eastern countries, such as Turkey, Kuwait, and Jordan, and other parts of Southeast Asia, and India. CONTINUED...Read this entire press release and more news for Hello Pal at: https://www.financialnewsmedia.com/news-hp
Other industry developments from around the markets include:
Roblox Corporation /zigman2/quotes/223883423/composite RBLX +4.73% recently announced that it will report the company's first quarter 2022 financial results, as well as its key metrics for the month of April 2022, after market close on Tuesday, May 10, 2022. The company will also conduct a conference call on Wednesday, May 11, 2022 at 5:30 AM PT / 8:30 AM ET to answer questions regarding its financial results.