The lip-syncing and social-video sharing app developer, Musical.ly, is putting Live.ly to an end after 2 Years of its launch as a standalone application for live-streaming video. Rather, Musical.ly will unite the Live.ly’s live-streaming features into its man application, which the firm states have a monthly active user base of 60 Million.
The company spokesperson said, “Live.ly’s live streaming is shifting to Musical.ly—our aim is to make it simple to enjoy your preferred short videos and live content, everything under one roof.” Musical.ly users will be steadily getting the capability to live stream video in the coming few weeks.
Musical.ly did not instantly have details on how many active Live.ly users it held. As per Sensor Tower, a mobile-analytics firm, Live.ly had over 26 Million installs so far, with the US logging for around 70% of installations. In 2018’s first quarter of 2018, downloads of the application were down around 41% year-over-year from quarter 1 2017—signifying a big loss of impetus.
The shift surfaces after Musical.ly was procured by Bytedance, a Chinese tech giant, in a deal last year apparently valued up to $1 Billion. Live.ly, in its initial few months, had lured a number of leading makers to the platform, few of whom stated they were creating tens of thousands of dollars every month through digital “gifts” bought by their fans.
Musical.ly, in ownership of Bytedance, has functioned as an autonomous platform directed by co-founders Alex Zhu and Louis Yang, while affiliating with its parent. It was declared by Musical.ly the establishment of a $50 Million in an endowment to back its users with scholarship initiatives and co-development agreements with media partners and users.
On the other end, Flighthouse—a Musical.ly mega-channel that posts popular music edits & trending songs and accounts approximately 1 Billion monthly views and 18 Million followers—is making the venture over to YouTube with the rollout of a brand new channel.