Live streaming to be 'catalyst' for new business models

The live-streaming industry will become increasingly intertwined with other sectors in 2017 which will become a catalyst for new business models, after it saw an explosive growth last year, panelists attending the Boao Forum for Asia said on Friday.

"The mounting enthusiasm, from both consumers and investors in 2016, has awakened other sectors' attention to live streaming, which is in essence an effective tool," said Zhang Hongtao, president of live-streaming app Laifeng.

He said 2017 marked the first year when live streaming would become widely leveraged to improve services in education, entertainment, medical and other sectors.