Live streaming user-generated video (UGV), a nascent format of crowdsourced content, has grown massive popularity among social media users and is believed to have substantial potential business influences. However, industry practitioners express concerns regarding this new form on social media platforms and the influences of live streaming UGV consumption lack research. Motivated such, through a uniquely merged dataset from the video game industry, we conduct a series of panel time-series empirical analyses to investigate the business value of live streaming UGV consumption. Further, we propose a conceptual framework based on the sense of community literature to understand the consequences of live streaming UGV consumption and verify it through several online experiments. This research contributes to the IS literature by shedding light on the influences of emergent crowdsourced content, providing a conceptual framework to existing literature, and offering rich managerial implications and guidelines to managers regarding utilizing live streaming UGVs.

直播用户生成视频 (UGV) 是一种新兴的众包内容格式，在社交媒体用户中广受欢迎，并被认为具有巨大的潜在商业影响力。然而，行业从业者对社交媒体平台上的这种新形式表示担忧，直播UGV消费的影响缺乏研究。出于这样的动机，通过来自视频游戏行业的独特合并数据集，我们进行了一系列面板时间序列实证分析，以调查直播 UGV 消费的商业价值。此外，我们提出了一个基于社区文学意义的概念框架，以了解直播 UGV 消费的后果，并通过几个在线实验进行验证。