Google (NASDAQ: GOOG) may be adding another live streaming component to YouTube: VentureBeat reports that the company is creating a new app, YouTube Connect, which would face off against Twitter's Periscope and Facebook's (NASDAQ: FB) live streaming initiative.
Like Periscope, the app would have features such as chat, tagging, and a news feed-style list that features the most recent clips from social media friends or YouTube channels the user has subscribed to. It will also reportedly have the capability to archive past broadcasts, and stored broadcasts would be visible on YouTube's website as well.
Whether the app would only be part of the YouTube Red subscription service or YouTube overall wasn't known.
Google already has a stake in the live streaming space with YouTube Gaming. Similar to massive gaming website Twitch, YouTube Gaming allows users to live stream or view streams of ongoing games, chat with the person broadcasting a stream, and view past matches. The service also offers live streams of other genres such as arts and crafts.
However, YouTube has lost some ground against Facebook in particular, as the social media site continually tweaks its video capability to allow for features like autoplay videos, tests ad monetization strategies, and beefs up its recently announced live streaming offering. E! Online debuted a live-streamed daily series, Live from E!, on Facebook most recently.
Adding a mobile live-streaming feature would boost YouTube's position in the segment -- and it may also be the best positioned to monetize its live stream, something that other services like Periscope have not yet been able to bring to bear. YouTube already has an established revenue-sharing model in place that advertisers and creators can take advantage of on its main online video site; if its live-streaming service offers similar ad opportunities, the potential to directly profit from one's live streaming efforts would be a big draw.
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