The hits keep on coming.
We got some more exciting news about LEO this week. A few major announcements have hit this week which should excited everyone involved with Leo.
We wrote about the concept of collateralized loans using $LEO. This is something the Maya team is building out and since Leo has a liquidity pool, it can be used.
Today, during the AMA, we got another piece of news.
LeoVideo Is Going To Go Live
Over the next week or so, we should see videos live on Leo. By this I mean people will be able to upload full videos as blog posts through Leo and LeoShorts via Threads.
This is something we discussed a great deal in the past. One of my core views is video is crucial. When we look at the valuation of different media, the market caps of companies related to video far exceed that of other media. In fact, it far outpaces gaming.
It is what Leo wants to be involved with.
We know the success of YouTube. When it comes to shorts, TikTok is still dominant. Looking at the numbers present us with a mind blowing situation.
Here is the number of users.
https://inleo.io/threads/view/taskmaster4450le/re-leothreads-3mqjqdgb
You Tube is near 2.5 billion while TikTok is around 1.25 billion. That is a lot of activity.
Where the numbers get crazy is the amount of time people spend on these sites.
In asking Groq what this translates to just for TikTok, here is what we got:
According to various reports and TikTok's own statements, here are some approximate numbers:
Hours of video uploaded to TikTok per day:
In 2020, TikTok reportedly reached 15 million videos uploaded per day. Assuming an average video length of 15 seconds (a rough estimate), that's around 225,000 hours of video uploaded per day.
In 2022, TikTok announced that it had reached 100 million hours of video uploaded per day. This translates to around 4,000 hours of video uploaded per minute.
Hours of video viewed on TikTok per day:
In 2020, TikTok reportedly reached 1 billion hours of video viewed per day.
In 2022, TikTok announced that it had reached 2 billion hours of video viewed per day.
Obviously we are dealing with the top bananas with TikTok and YouTube. However, it does make you wonder about the potential.
Building A Library
Here is where the building enters.
Obviously, the viewer numbers are not based upon videos that were just uploaded. The fact there are billions of videos in the data base means a lot can be seen.
In other words, the TikTok (and likewise YouTube) libraries are enormous. They also have very strong recommend engines that offer up suggestions the second a video is done playing. This is how they keep people on the application.
Leo has a chance to do something on a much smaller scale. When compared to TikTok, we can remove many zeros from the numbers. They talk in millions, Leo can talk in hundreds.
That said, what happens if we can put together videos that get hundreds of hours worth of viewing per day? How will that change things?
Naturally, the start will be to get videos uploaded. As stated, a recommend engine is crucial. As the weeks pass, more videos can be added, giving people options of what to watch.
The nice thing about LeoShorts, by going through threads, it is nothing more than a comment. That is a big deal on Hive.
Even more importantly, we can start the process of having our own library of content. People are free to share whatever they like. This helps with pageviews as people click on even more videos.
Ad Revenue
Keep in mind that another revenue stream will be ad revenue. We encountered some challenges, one of which was being massively underpaid by Google Ad Sense. (we were told it was pennies on the dollar).
This is still on the table except the team will build its own ad platform. Here is where the community needs to get ahead of it and start to focus upon page views. These need to increase. We are doing around 400K per month. That number has to be pushed towards 1 million.
To achieve that, video is likely going to be crucial. If we can develop a library of content that people will watch, it will drive page views. A recommend engine can get people clicking on an assortment of shorts, helping the process.
So far, search is an issue on most things related to Hive. Anything that is posted, if not seen immediately, is likely gone.
Some of what we are discussing here solves that.
Video is still the king of media. Having the capability roll out adds another layer to the Leo foundation from which we can start to utilize and build upon.
Posted Using InLeo Alpha