Healthcare Systems Begin to Incorporate Live Streaming Capabilities

FinancialBuzz.com News Commentary

NEW YORK, April 20, 2021 /PRNewswire/ -- The global video streaming market size is anticipated to exhibit remarkable growth, owing to the advent and increasing popularity of digital video streaming worldwide. Video streaming, in simple terms, means the running of continuous media in a compressed audio and video form without waiting to download the content from the internet. Overall, the video streaming market value was USD 342.44 Billion in 2019 and is expected to rise at a 12.0% CAGR between 2020 to 2027. According to data provided by Fortune Business Insights, it is set to reach USD 842.93 Billion by 2027. Additionally, the market in the Asia Pacific region is likely to grow rapidly and exhibit a high CAGR in the forecast period on account of the presence of a tech-savvy population and the advent of smartphones with HD quality resolution, which is apt for video streaming. Scienjoy Holding Corporation (NASDAQ: SJ), Cerner Corporation (NASDAQ: CERN), United Health Group Inc. (NYSE: UNH), Activision Blizzard, Inc. (NASDAQ: ATVI), Verizon Communications, Inc. (NYSE: VZ)

The healthcare industry has gone through a significant transformation last year, prioritizing new technologies to provide services remotely and in a timely manner. For example, late last year, BlueJeans by Verizon announced that customers including the University of Louisville, Amicus Therapeutics, Guy's and St Thomas' NHS Foundation Trust and Central London Community Healthcare NHS Trust, are deploying BlueJeans to drive the healthcare transformation. Using BlueJeans video conferencing for telehealth services, patient-to-family communication, internal collaboration, education and patient advisory boards, hospitals, healthcare and life sciences organizations are able to help improve patient outcomes through providing care remotely in a manner that helps support adherence to the Health Insurance Portability and Accountability Act (HIPAA) or similar patient privacy requirements.

Scienjoy Holding Corporation (NASDAQ: SJ) announced yesterday breaking news that, "it has entered into a strategic partnership with Jiada Hexin (Beijing) Science and Technology Ltd. ("Jiada Hexin"), an online-to-offline (O2O) aesthetic medicine platform. The two companies will launch a live streaming aesthetic medicine platform that uses Scienjoy's proprietary technologies to bring together customers, live streaming broadcasters and aesthetic medicine institutions.

In China trusted live streaming influencers are helping consumers navigate the new and complex world of aesthetic medicine. At the same time, institutions are increasingly moving online to places like Jiada Hexin's O2O platform to connect efficiently with consumers, while consumers seek out these platforms to keep up to date with new aesthetic treatments. Online and live stream influencers have become a key part of aesthetic medicine marketing, offering personal experience sharing that has demystified the process, increased transparency and ultimately helped consumers make more informed decisions. According to the 2021 "China Aesthetic Medicine Market Outlook Report" jointly released by Deloitte and Meituan, China's aesthetic medicine market already reached RMB197.5 billion in 2020 and by 2023 is expected to exceed RMB300 billion. Backed by growing consumer acceptance and low market penetration, the sector presents outsized opportunities for growth.

Scienjoy and Jiada Hexin's joint aesthetic medicine platform will combine Jiada Hexin's existing network of over 200 certified institutions with Scienjoy's pool of over 300,000 seasoned live streaming broadcasters. The majority of Scienjoy's broadcasters fit the core aesthetic medicine demographic: women in their 20s and 30s with disposable income who are interested in maintaining a healthy and young appearance. This new platform will allow existing live streaming broadcasters to engage with viewers and attract new beauty broadcasters. In 2019, Scienjoy began incubating medical aesthetics-related initiatives to test popularity with broadcasters and existing users. The current iteration, the LikeMei Mini Program launched in November last year, has been integrated and tested on Scienjoy's platforms and shown strong positive user feedback.

On the technical and feature side, the new aesthetic medicine platform will use Scienjoy's proprietary artificial intelligence (AI) image analysis technology to help interested customers explore treatment options. AI has become a core component of Scienjoy's business, with proprietary AI technology a key pillar of its live streaming platforms and an area of continued research and development. When users upload photos or videos to the platform, Scienjoy's AI image analysis will accurately identify areas for attention, suggest different treatment options to the user and provide before and after image comparisons. The AI-generated "after" image will let early-stage potential customers explore and learn about their options before they are ready to contact a treatment provider. Combined with live streaming broadcaster personal experience sharing, and the ability of users to talk with aesthetic medicine professionals directly on the platform, AI technology helps to provide a well-rounded experience for users to explore and learn. These AI and broadcaster tools will help users to learn about the options and outcomes even before they connect with one of the over 200 aesthetic medicine institutions in Jiada Hexin's network.

'We believe that with a combination of Scienjoy's proprietary technologies, talented broadcasters and Jiada Hexin's O2O aesthetic medicine experience, our strategic cooperation will create value for both sides,' commented Victor He, chairman and CEO of Scienjoy. 'This partnership demonstrates how Scienjoy continues to look for new applications for our proprietary technology to generate growth and expand our industry reach.'"

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Cerner Corporation (NASDAQ: CERN) announced on April 1st, the acquisition of Kantar Health, a division of Kantar Group, for $375 million in cash, subject to adjustment. Kantar Health's rich life sciences expertise will be combined with Cerner's robust collection of real-world data (RWD) and technology and is expected to accelerate innovation in life sciences research and improve patient outcomes worldwide. "The promise of real-world evidence to power drug discovery is right in front of us," said Donald Trigg, president, Cerner. "Kantar Health is an important next step in building out the capabilities our growing network of provider clients need to fundamentally change the time and cost for clinical trials."

United Health Group Inc. (NYSE: UNH) subsidiary UnitedHealthcare Dental announced last June, it's latest offering, teledentistry services designed to reduce unnecessary emergency room (ER) visits and more efficiently get patients to the most appropriate setting for in-person care.  "These actions to improve the access and affordability of dental care for our customers and plan participants are a continuation of our enterprise's comprehensive steps in response to COVID-19, including financial relief for customers and support for network providers," said Colleen Van Ham, CEO, UnitedHealthcare Dental. "As the COVID-19 situation continues, these solutions are designed to expand coverage, support health care providers and bolster the well-being of the people we serve." 

Activision Blizzard, Inc. (NASDAQ: ATVI) and Google announced last year, a multi-year strategic relationship to power new player experiences. Google Cloud will serve as the preferred provider for Activision Blizzard's game hosting infrastructure and YouTube as its exclusive streaming partner worldwide, excluding China, for live broadcasts of its popular esports leagues and events — including Overwatch League, Call of Duty League, Hearthstone Esports, and more.  "We've worked closely with Activision Blizzard for the past few years across mobile titles to boost its analytics capabilities and overall player experience," said Sunil Rayan, Head of Gaming, Google Cloud. "We are excited to now expand our relationship and help power one of the largest and most renowned game developers in the world."

Verizon Communications, Inc. (NYSE: VZ), Verizon Media has announced on September 16th, 2020, a series of new Media Platform enhancements designed to evolve the live streaming experience. These include several new capabilities that provide deeper fan engagement for live sports and services that address every streaming need. Additionally, the company has launched Smartplay Prebid's first integration with the Verizon Media Ad Platforms' OTT Smart Auction.  "The global pandemic has limited in-person attendance for most major events, yet sports fans remain hungry for live sports," said Ariff Sidi, General Manager and Chief Product Officer, Verizon Media. "Sports broadcasters and teams are really working hard to engage their die-hard fans and maintain engagement and loyalty in the face of competing at-home entertainment options."

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