After failing under the pressure of intense competition – Facebook and Twitter are not eager to share the field – Meerkat has decided to switch from live video streaming to video social network.
Launched in February 2015 for iOS as well as Android, Meerkat seemed to receive a warm welcome in the tech industry. Sadly, the app could not sustain its momentum, which led to the turn of events confirmed by Ben Rubin, the CEO of Meerkat.
According to Rubin’s statement in a blog post, Meerkat users are just not reaching the level of livestreaming the company was expecting to see a year after the release. Moreover, people who do livestream prefer other networks over Meerkat, such as Twitter’s Periscope and the recent Facebook Live.
Over the past year, the waters have become hard to sail for Meerkat; Rubin said “mobile broadcast video hasn’t quite exploded as quickly as we’d hoped.” While Periscope and Live were drawing more and more users, the app found it wasn’t able to grow as quickly as it had planned.
Live broadcasting is something both Twitter and Facebook have heavily invested in recent months. At the same time, the fact that both social networks already boasted huge existing user bases was also helpful in drawing more people to use their live video products.
Back in July 2015, Facebook had initially opened live video broadcasting to celebrities only, but regular users also gained access in January 2016. At this point, more than 31,000 customers have already used the service, which resulted in approximately 246,000 livestreams and 5.7 billion views.
March 2015 was the time when Twitter launched Periscope; the app’s popularity rose almost overnight, helped by the fact that Periscope streams also appear on Twitter’s news feed.
But on the other side of the competition, Meerkat had to work really hard on building its network of users from scratch. Rubio’s decision to take Meerkat out of the race also goes to show how challenging it is in the livestreaming space.
Meerkat still has about 75 percent of the $12 million it has raised from investors; Rubin did not disclose the company’s plans for the app but hinted at being interested in interactions between people who know each other.
According to its CEO, Meerkat should release something new over the next few months. The app is still available for free from Google Play Store and Apple App Store. Meerkat is compatible with smartphones running on Android 4.3 Jelly Bean, or iOS 8.0 or later.
Image Source: TechTimes