Facebook launched its live platform last year. It now says 1 in 5 videos on its platform are live, and daily time spent watching Facebook Live broadcasts has grown by more than 4x.

Why it matters: The video duopoly of Facebook and YouTube is killing it in the arms race for live-streaming dominance, which should have traditional TV companies worried. Nearly half of online users watch live-streaming every week and nearly a quarter say they watch live-streaming every day, per Magid's latest social broadcasting study.

Expand chart
Data: Magid; Chart: Chris Canipe / Axios

Facebook also announced earlier this year it's finally matching YouTube in giving publishers a 55 percent cut of ad dollars to seed its real-time offerings.

Both platforms have launched a ton of live-streaming partnerships around sports in particular. Why? Look at the type of programming watched live versus on DVR, via comScore:

  • Sports: 90% - 10%
  • News: 90% - 10%
  • Comedy: 85% - 15%
  • Movies: 85% - 15%
  • Reality: 75% - 25%
  • Drama: 71% - 29%

Go deeper

Mergers and acquisitions make a comeback

Illustration: Sarah Grillo/Axios

A slew of high-profile headlines led by Microsoft's expected acquisition of social media video app TikTok helped bring the Nasdaq to another record high on Monday.

Why it matters: The mergers-and-acquisitions market looks like it's bouncing back, joining the revived credit and equity markets as well as the market for new public companies through IPOs and special purpose acquisition companies (SPACs).

U.S. Chamber of Commerce warns of racial inequality for small businesses

Illustration: Aïda Amer/Axios

Attitudes and beliefs about racial inequality are changing quickly as protests and media attention have helped highlight the gaps in opportunity between white- and minority-owned businesses in the United States.

Driving the news: A new survey from the U.S. Chamber of Commerce and MetLife provided early to Axios shows a 17-point increase in the number of small business owners who say minority-owned small businesses face more challenges than non-minority-owned ones.

BP's in the red, slashing its dividend and vowing a greener future

Photo: Ben Stansall/AFP via Getty Images

BP posted a $6.7 billion second-quarter loss and cut its dividend in half Tuesday while unveiling accelerated steps to transition its portfolio toward low-carbon sources.

Why it matters: The announcement adds new targets and details to its February vow to become a "net-zero" emissions company by mid-century.