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Messari Q1 2026 Report: State of Livepeer

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Summary and Key Takeaways

Livepeer’s video processing volume surged 71.9% quarter-over-quarter (QoQ) to 134.4 million minutes – a new all-time quarterly high – reflecting deeper production usage and growing adoption across existing applications.
Demand-side fees rose 34.2% QoQ to $257,300. However, average revenue per 1,000 minutes declined 22%, as throughput expanded faster than fee capture – pointing to a shift toward lower-fee, higher-volume workloads.
AI-driven fees reached $154,700 in Q1, up 15.5% QoQ, and accounted for roughly 60% of total protocol revenue. This cements AI inference as Livepeer’s largest and fastest-growing monetisation category.
Livepeer advanced its real-time AI video infrastructure toward production readiness, including updates to its core go-livepeer software, bring-your-own-container (BYOC) node support, improved network observability via a new Grafana dashboard, and progress on its Network-as-a-Product (NaaP) initiative.
New integrations were established with XMTP (encrypted messaging for livestreams), Ar.io (media provenance for AI-generated video), Spritz (decentralised messaging app), minidev.fun (AI agent video workflows), and embody.zone (real-time avatar experiences).
On January 22, governance passed LIP-101, reactivating treasury rewards and restoring a 10% treasury cut. A Protocol R&D Special Purpose Entity (SPE) was also formally launched to oversee maintenance, upgrades, and network operations.
Q1 2026 was Livepeer’s strongest quarter on record by usage metrics. While USD-denominated staking rewards were hurt by token price weakness, the network’s operational fundamentals – usage, fees, and ecosystem development – all showed clear momentum.
Last modified on May 19, 2026