"Livestreaming turns shopping into a sport, with spectators and participants among the viewers. Auctions are particularly dramatic. A growing category is livestreamed auctioneering, spanning cheap crap and trading card packs to fine art sales. Bonnie Brennan, who was promoted to CEO of the auction house Christie's this year, started her career in advertising, "because art world jobs were not going to allow me to support myself.""
"Auction houses like Christie's and Sotheby's adopted livestreams to deepen their supply of bidders. Nowadays, during popular weeks, Christie's auction livestreams rack up millions of views. "The economics of the industry remain challenging." But could a Sotheby's or Christie's bring itself to embrace advertising? Or are the livestreams simply a way to promote and advertise themselves? Whatnot has done what no other app has managed to achieve in the US."
Livestreaming is transforming shopping into a spectator activity, with auctions providing particularly dramatic moments and a wide range of goods sold via live auctioneering. Bonnie Brennan moved from advertising into Christie's and now leads the auction house as CEO. Major auction houses adopted livestreams to broaden their bidder pools, and Christie's streams can attract millions of viewers during busy weeks. The industry faces challenging economics, and livestreams may serve both promotional and revenue goals. Apps like Whatnot have popularized live shopping in the US and begun offering paid visibility. Influencers seek alternatives to Instagram due to algorithm instability and weak affiliate earnings.
Read at AdExchanger
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