Really? There was a lot of hype around Meerkat and Periscope for what felt like a weekend, and it has all but disappeared. I hated on Snapchat for awhile, but they have a very good audience now. Snapchat may very well fade out amongst teens and something new and shiny will grab their attention, but they seem to be doing pretty well. If their plans work out we could see some impressive numbers coming from them, whilst retaining their target demographic.
Snapchat vs Meerkat/Periscope is an apples and oranges conparison. The latter apps are primarily used for broadcasting to the public, while the former is primarily used for communicating privately between friends. They can co-exist, however based on the app charts, Meerkat is already dead.
Meerkat is treading water, and due to the higher burn rate of 1-to-many video, even with $11M funding it will die out quickly.
Periscope is doing better but not enough to justify a $100M acquisition.
The spike is due to the piracy of the Mayweather boxing fight: if piracy becomes the sole use case and gets even more attention from content providers, both die immediately from the resulting lawsuits.
Well, not that I think video streaming services are going to go anywhere, but YouTube was primarily used for pirated content when it first came out too.
The next thing is already here.