The enormous potential impact of live streaming means that brands can no longer afford to ignore it.

Trevor Evans is the CEO and founder of Stream Time, an app which allows broadcasters to schedule their streams from platforms including Facebook Live, Periscope, YouTube and Twitch, building up their viewer base.

Users can also personalise their schedule feed and set advanced reminders for broadcasts.

Evans pointed to the launch of SpaceX's Falcon Heavy rocket last month, which racked up 2.3 million concurrent live stream views on YouTube alone.

"The world watched with bated breath as the earth’s most powerful rocket blasted heavenwards from its Florida launch-pad," he said.

"Live streaming inspires the next generation of engineers and entrepreneurs and entertainers, immersing us into new cultures at key moments and showing us the limitlessness of human potential.

"One of the most exciting things about live streaming is its potential to incorporate new tech. NBC allowed its app users to be rink-side in South Korea by live streaming over 50 hours of its Olympics coverage in virtual reality.

"Facebook added live streaming features to VR app Spaces last summer and we wait to see which platforms will be next to catch on.

"The possibilities for live streaming are as endless as the developments in tech."

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Evans says that the days of accessing dodgy streaming sites to watch sporting events are over – and there are lessons to be learned by business as well as broadcasters.

"It's not rocket science to see how it’s the digital marketing tool of the future. If 82 per cent of web users would rather watch a brand’s live video than glance at its social media posts, then why are companies still so slow on the uptake?

"100 million internet users watch live video on a regular day, meaning a captive audience is awaiting any company that cares to capitalise on it.

"Live streaming creates that personal B2C connection all brands are chasing so it doesn’t make sense for any to ignore it.

"Every event now has the potential to secure international engagement thanks to live streaming. Brands that not only want to keep up but keep ahead will embrace it and attract the eyes of the world.

"Live streaming is tired marketing's new hope."