User Exploration and Exploitation Behavior Under the Influence of Real-time Interactions in Live Streaming Environments

Live streaming platforms offer a distinctive way for users and content creators to interact with each other through real-time communication. While research on user behavior in online platforms has explored how users discover their favorite content from creators and engage with them, the role of real-time features remains unclear. There are open questions as to what commonalities and differences exist in users' relationships with live streaming platforms compared to traditional on-demand style platforms. To understand this, we employ the concept of Exploration/Exploitation (E/E) and analyze a large-scale dataset from a live streaming platform over two years. Our results indicate that even on live streaming platforms, users exhibit E/E behavior but experience a longer exploration period. We also identify external factors, such as circadian rhythms, that influence E/E dynamics and user loyalty. The presented study emphasizes the importance of balancing E/E in online platform design, especially for live streaming platforms, providing implications that suggest design strategies for platform developers and content creators to facilitate timely engagement and retention.