Do you remember the ‘Dancing Baby’? Released in 1996, this was one of the very first internet memes, and was the moment that most people realised that the internet could be a medium for video as well as text.

Twenty years later, the web is a very different place.

 

 

Not only is video common across the web, the need for expensive production equipment has all but been removed. A smart phone and a 4G connection is pretty much all that is required to create live video.

Last year, Apple announced Twitter’s newly-acquired Periscope as one of their Apps of the Year. For users, it brought the ability to live-stream within seconds whatever was in front of them to an existing audience. Simply fire up the app and aim your camera and, before you know it, your followers are notified of your instant feed.

 

Live feed via Periscope

 

While Periscope was a huge success, other internet giants certainly weren’t going to let Twitter have all the fun. Now, after extensive testing within the US market, Australians have access to Facebook’s response: Facebook Live. The product is being rolled out to users through late 2015 and early 2016, and will soon be universally available via the Facebook App.

The premise of 'Live' is essentially the same – allowing for users to broadcast whatever is happening immediately in front of them. This functionality also draws Facebook into the ‘instant information’ space that has always been occupied by Twitter. The content of Facebook’s News Feed tends could be described as ‘recent historic’, but ‘Live’ certainly aims to change that as users get involved in broadcasting events as they unfold. 

 

 

Periscope has already seen off competitor Meerkat, but it remains to be seen if it can survive against Facebook. Their advantage is that Periscope already has the market share and is known as the leader for live streaming. Also, both Facebook and Twitter talk to quite different audiences.

However, Twitter (NYSE: TWTR) is scrambling for market share. Its stock has plummeted to US$19.63 – down more than 60% from April 2015 high of over $53.00. With a lukewarm response to Twitter for Business and a horrific response to rumours of lifting the 140-character limit, 2016 is a year filled with challenges for Twitter.

 

Twitter Founder and CEO, Jack Dorsey

 

Founder and returned CEO, Jack Dorsey, is back at the helm after a seven-year break, and it remains to be seen if the micro-blogging site can expand its business without being consumed by competitors.