Meerkat has the makings of not only becoming a big, important platform, but you can already start to see how disruptive it may be given all the reactions it generates (“get off my lawn!”) and serious questions it raises about other media networks and platforms. Observing the way folks are using it and how different people are tweeting about its varied potential for over a week now, I believe it has the makings of that rare disruptive platform. Here’s how I think about it:
- The best “entry point” into a live experience: So far, we think of Twitter as the real-time network, so it must be that a livestream product would need Twitter as a base. I don’t think this is true. Think of other avenues where real-time information has currency — sports, finance, etc. — and also of online communities and niches that run within these verticals. For instance, breaking news about a football team midweek could affect Vegas odds, fantasy rosters, and more. The best analysts in right now tweet or work for big sports networks (like ESPN); pretty soon, they can just “Meerkast” instead of traditional TV (ESPN) or online (Twitter) broadcast.
- Twitter needs Periscope to grow: Twitter has a user growth issue, and offering Periscope “in-line” as a broadcast feature to major celebrities will be a killer feature for the users, but also to help Twitter grow. Media like this can help onboard new users and give them an excuse to follow a few accounts. “OMG, Steph Curry is practicing dunks right now and giving away a few signed balls on Twitter, I need to watch this right now.” Furthermore, these notifications on mobile could have way more currency and make Twitter notices look static. Contrast a notification like “Steph Curry just tweeted: xxx” vs “Steph Curry is practicing dunks….right now. Tune in and win!”
- Meerkat can be extensible: While Periscope will live within Twitter, Meerkat can use all of this attention to encourage creators and audience members to create their own accounts and extend the network to other big social media sites. Imagine being able to read a LinkedIn Influencer piece while you’re browsing the site and then see your favorite business authors or self-help coaches give live training via Meerkat. Or a platform like Pinterest, imagine curators showcasing a wedding they’ve planned or a party, or showing off goods they want to sell exclusively on Meerkat.
- Speaking of sales, Meerkat’s nativity could lead to money: If Meerkat can figure out the right entry points to grab your attention into their native app or their web browser while you’re logged in as a Meerkat user (regardless of entry point), they can also leverage payment gateways to help facilitate transactions with the ease of a click. Imagine that Taylor Swift is practicing a new single that’s not yet polished, and for charity, she wants to sell the song for $0.99, so as a viewer you can offer to pay and the money is collected and routed to Taylor’s account. Taylor would also know which fans hang out in the room (better analytics on mobile vs multiple tabs on browsers). Hopefully, the infrastructure will support such a big network.
- And, speaking of infrastructure, Meerkat’s is great so far: Garry Tan has one of my favorite lines: “The best software is invisible.” So far, Meerkat just works, but to pull off high-fidelity, real-time, synchronous broadcast from one device to many requires robust infrastructure that cannot just be engineered in a month. This gives them the type of defensibility an external investor would look for and also raises the bar for Twitter/Periscope upon release. As more mobile devices come on board, it will not only strain those users devices (video bandwidth is costly in many ways), but may also require a different network architecture that a blockchain-enabled mesh could provide. The timing may be impeccable here.
- Mobile software is eating mobile hardware: Just a few months ago, GoPro was the talk of the town; now, our phones are GoPros, thanks to Meerkat’s timing. Will people Meerkast from comedy clubs, sports arenas, private boardrooms, and so on and so on? As there are endless possibilities for celebs and big brands to leverage this new channel, but what about individuals who can disrupt what is bread and butter to networks like CNN, ESPN, The Cooking Channel, and so on…instead of paying a toll to cable operators and studios, content creators now could have yet another layer stripped away and capture more value. There are too many examples to list here, so just pick your favorite show, guesstimate the economics, and now add more to the protagonists and you’ll start to see how Meerkat can leverage the web to trigger this transfer.
- The end-user watch points are also aplenty: Where will I watch my favorite Meerkasts — on my mobile devices? In the browser? As a channel or network of channels inside Netflix or Roku or Apple TV? If Twitter only offers Periscope, is there room for Meerkasts to extend and not need to rely on Twitter? You bet there is! And, what if I could watch a Meerkast via virtual reality? A sideline reporter or a network of cameras on a football field could capture the live feed, and I could view in total immersion — in real time.
And, therein lies the challenge and opportunity. The challenge is that while we’re enjoying the flurry of experimentation today, the cost of watching video (especially poorly produced grainy and unstable video) is very high to the audience. It can feel noisy or disorienting. Very few things will have real-time currency, but as more people experiment, no doubt interesting things will emerge. Also, Meerkat couldn’t’ve exploded without ambushing Twitter, and now that Twitter also has its own competitive product, has a huge incentive to bring the feature in-line and give preference to Periscope. While we have Net Neutrality now for our big pipes, the social and interest pipes on top of the web do not have their own flavor of net neutrality. Now, Meerkat will have to go through the work of building out user accounts, finding other networks to integrate with, and helping those with large and niche audiences produce this new style of media. That’s the opportunity ahead, and I’m sure the team will have enough talent and dollars chasing it to see if they can make it into a reality.
A final, personal aside about Meerkasts and blogging — nothing I do in life ever has true real-time currency, so in a Meerkat world, I’m likely to be a consumer, not a creator. In the world of text, I can create, but blogging for me is a way to structure thoughts over time — I’ve been tweeting and thinking about Meerkast for a week, and finally had a chance to write this as my daughter is napping. By contrast, I technically could’ve opened up my Meerkat and broadcast this to you all, but it wouldn’t have been as structured, and it would’ve been significantly more boring!