Live streaming and the explosion of the “creator economy” are igniting the current rise in social media app use and rapidly changing the landscape.
For years, video consumption has taken many shapes — from television to streaming apps to social media platforms. We have finally entered the era of one of the most thrilling parts of entertainment that were mostly missing from the video world until the pandemic hit: the power of truly ‘live streaming’ content.
India’s live streaming market is poised to see over 250 million users by the end of 2022. The pandemic being the driving force, India has witnessed an exciting addition of UGC and PUGC live streamers to the foray, leading to addition of never seen before categories in the live streaming ecosystem. Research shows that the live streaming market will be worth over $247 billion by 2027 and that 47% of people are streaming more live videos than ever.
Bolo Live, is the first of its kind India’s homegrown social live streaming platform that leads the market in India to drive a purpose led engagement model to financially empower creators in India by monetizing their content. Bolo Live streaming feature comes with integrated real-time gamification gamification driven by microtransactions led gifting options and aims to create the world’s largest active engagement and behavioural science-driven entertainment platform from India, with love from across the globe.
The Bolo Live streamer Diksha Pardeshi could barely react. Why? Because she had just redeemed her beans (Bolo Live currency) into more than INR 1 lakh to her Paytm account. The beans she earned during her live sessions. The 22-year-medical student from Nashik, holding her passion for music close to her heart, has created a whole new family on the Bolo Live app with over 18.3K followers. The streamer spends more than 3 hours daily on the app showcasing her talent with guitar and love for music. She often takes guitar lessons LIVE on the app and has recently bought an iPad pro solely through earnings from Bolo Live.
Another streamer, Anamika, is now one of the top broadcasters and a golden tick holder with 23.1K followers. She spends a chunk of her earnings through the app in paying house loan EMIs and school fee for her children.
Bolo live has seen encouraging numbers for live streamers with a total of over 25 streamers having earned more than INR 1 lakh from the platform in 2021. Moreover, the platform has seen a surge in the number of female live streamers moving towards an aspirational lifestyle solely based on earning on Bolo Live.
This is the social media ‘creator economy’ in action – and it simply would not have happened without one thing: video and live streaming.
Now, if you are wondering to start livestreaming on Bolo Live, here is a step by step guide you can follow:
Here’s how one can start and earn money by going live on Bolo Live App:
- Download the updated version on Bolo Live app on your smartphone
- Log-in by entering the required details
- On the homepage, tap the ‘camera’ icon in the middle of your screen.
- Select tag and tap the ‘Live’ icon to go live
- You will be asked to upload a thumbnail or continue with your profile picture, tap the preferred option and can go immediately. This picture will appear to the users in the ongoing Live section.
- Bolo Live allows up to 4 people to go live at a time and host interesting games like Pictionary, dumb charades, and jam sessions.
- Users can send their favourite live performing creators a wider variety of digital gifts right from a BoloLive Hat of 35 diamonds, Cake for 75 diamonds or Fire for 8 diamonds. These diamonds will be collected in streamers’ wallets in the form of beans which can be redeemed in real cash.
Bolo Live has raised USD 2.4 million in their latest investment round, led by Orios Venture Partners. The round also saw participation from Tremis Capital, SOSV, LPA Ventures and HNIs from Europe and the US.