Live video streaming service Periscope recently rolled out an update for the iOS and Android version of the app. (Photo : Twitter)
Twitter has introduced a new video-streaming app, Periscope, which can be used for live, real-time streaming. It is similar to Meerkat, but can be a huge revenue-generator for Twitter, analysts believe.
Periscope's working principle is pretty simple. You install the app and whenever you start the cam, you can start broadcasting live video.
Your follower's get the buzz when you are live and they can watch you real-time. They can also provide instant feedbacks.
The tech enthusiasts seem to be interested in the idea. Periscope has already won the preliminary enthusiasm of tech experts.
But, this is not the first app to stream live videos. Meerkat, which rocked the SXSW conference, last month, is already into it.
"They have about 2-3 weeks ahead of us, and I think in the grand scheme of things the better product will win," argues Twitter's vice president of product Kevin Weil, said.
However, analysts believe Twitter has some advantages on which it can bank upon. The lag time in Meerkat is longer and the replies you make when you're live are actually texting.
Weil has much certainty about Twitters advantages. "We have the better product," he said.
So, can Twitter make the things up with Periscope?
According to Jefferies' Equity Research, Twitter has great potential to make money from the new video app. Popular analytics firm eMarketer believes that online video industry will have a market of USD 17 billion by 2017, Fortune reported.
But, Meerkat has responded with feature enhancement and efficiency maximization.
According to Meerkat founder Ben Rubin, Twitter is pitching for different attroibutes. He said that Meerkat is different.
"[Periscope] is a very slick product, and very beautiful," he says. "It's very different from what we do," Rubin said.
It is true that Meerkat lets people schedule programs beforehand. But, analysts believe, both firms offer similar advantages for the actual user.
So which firm will ultimately win? Can Meerkat benefit from its first-mover status? Can Twitter overcome the Meerkat challenge?
There is an example of Hipstamatic and Instagram. Although Hipstamatic started earlier, Instagram ultimately won the customer base, according to Buzzfeed.
Therefore, analysts believe Twitter can be the winner and generate enough revenues through Periscope.
Twitter also has enough market experience. Still, we will have to wait to see what happens in future. The service Twitter has launched is impressive enough though.
Wait and watch.
