November 15th, 2016 Posted by Social, Strategy

Last month the news broke that Twitter is discontinuing Vine, its looping video-sharing service. While this development wasn’t a complete shock, it did leave some wondering about the future of multimedia video apps. Clearly these rich platforms can meet a need, but where will they find a foothold in the overcrowded digital space?

It turns out that the future of live video is still very bright, if a little unclear. Twitter is currently fielding offers from multiple companies interesting in buying Vine. It looks like the short-format video app will continue to exist in some form. And on top of that, Vine’s co-founders are sticking close to the space with a new live streaming video app called Hype.

Hype will look to make a splash by enabling the blending of multiumedia content with live broadcasts. In other words, streamers can combine live video with content they made earlier. The platform will also enable music, emojis, viewer comments, and other multimedia elements to be combined with live video.

Some other big names are currently grappling for position in the arena of live streaming. Hype is the newcomer in a space that already includes Facebook Live, as well as the Twitter-owned Periscope.

We’ve only seen the tip of the iceberg in terms of the potential for these live video services to affect digital content consumption and sharing. With continuous demand for engaging video content, plus the ability to use media to create a richer experience, it’s not hard to imagine the possibilities.

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