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Dan Liu on Twitter last week:
Two Chinese streamers sold 18 billion RMB (about $3B) worth of goods in a half-day livestream yesterday.
🤯 🤯 🤯
That’s almost as much as Twitter’s annual revenue ($3.72B).
Apparently 200 million people showed up during the live streams, and the streamers earned as much as 20% commission selling cosmetics, electronics, and more.
Neville Mehra writes how one of the streamers – 34-year-old Viya – has had more viewers on a stream than the Game of Thrones finale, and predicts that livestream selling will likely become a big thing in Europe and the USA before long.
Indeed, it seems to be trending that way, per this CNBC article from May…
In the U.S., the livestreaming market was worth about $6 billion last year and could reach $11 billion by the end of this year, according to consumer market research group Coresight Research. It expects the market could eclipse $25 billion by 2023.
That’s still far behind China, where livestreaming is estimated to have driven about $125 billion in sales in 2020, up from $63 billion in 2019, according to Coresight.
How might you capitalize on this trend? 🤔
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