Live-streaming video is the next big thing in social media, and now Twitter has thrown its hat into the ring with Periscope, a new app that lets anyone with a cellphone show off their ukulele chops in real time around the world.
Released yesterday, Periscope will go head-to-head with Meerkat, which also lets users live stream video from cellphones with a single touch and was a breakout hit at the South By Southwest Interactive tech gathering in Texas earlier this month, quickly gaining a following among celebrities.
Between the "having my coffee" and countless office tour videos that dominated Periscope yesterday, some users already were getting creative: a band in Detroit streamed its practice, and Jimmy Fallon live-streamed the rehearsal of his opening monologue from "The Tonight Show."
Periscope also quickly found what could be its first signature moment.
When a building collapsed and fire erupted in New York City yesterday, dozens of people were quick to take to Periscope to live-stream the aftermath, in some cases before first responders got to the scene.
"It's a terrible situation, but it's an amazing use-case scenario on literally the day they're coming out," said David Gerzof, a social media and marketing professor at Emerson College. "The day of personal, live broadcasting is here, and it's not going to go away."
Founder Collective, a Boston venture capital firm, was one of the investors in Periscope prior to its acquisition by Twitter in January.
"Every event, every place that the news broadcasts from, there's no reason why anyone with a smartphone can't do that broadcast," said Eric Paley, managing partner at Founder Collective.
Perhaps anticipating Periscope's launch, Meerkat yesterday announced it had raised $14 million in venture capital.
A key difference between the two live-streaming apps — and one that may give the Twitter app the edge — is that Periscope saves videos to be replayed, while Meerkat does not. And, after Meerkat gained popularity, Twitter began limiting its access to its service.
Still, there is likely room for both, Gerzof said.
"I see them both coexisting. ... They are very much similar services that are definitely competitors to each other, but they may find their own way in differentiating over time," he said. "It could be that one of the platforms becomes the news reporting platform and the other becomes the fun and kiddie one."
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