Periscope went live in March 2015, and by August it had cultivated 40 years of live video watched every day. Clearly, that number has ballooned since last year. We blame the whiskey.
Periscope's apparent success has a lot to do with the internet community's infatuation with live content. Sites such as Twitch and YouTube Gaming have introduced livestreaming to millions of people, and apps like Periscope make it accessible for social networkers. Facebook jumped on the live-content bandwagon in February with its own streaming service, Facebook Live. Now, it looks like Google might be the next passenger, following reports that it's developing a livestreaming app called YouTube Connect.
Even with the current boon, there's still a market cap for livestreaming services. Meerkat was the first social livestreaming app of its kind, but once Twitter blocked it and launched Periscope, its time in the spotlight came to an end. Meerkat is still around, but it's shifting into a social network "where everyone is always live," according to early reports.