Meerkat came out the gate first, and as anyone in tech should know, first doesn't always mean best nor does it always win in the long run. But that's not sounding the death knell of Meerkat it's perspective behind what we're witnessing. Live streaming isn't actually new nor is it groundbreaking in a sense, what makes it groundbreaking today is the fact that we're able to broadcast what's going on at that very moment from our smartphones with high quality video.
This ability can't be understated, consider what we'll be able to see live from the next protest over an ongoing injustice, a behind the scenes look at our favorite show from the perspective of cast and crew, a live tour in another country, on the field during a football game, there's a great deal of experiences that will inevitably take place through these services, and the truth is at this very moment many don't know the full potential of this new service and it may take some time but similar to the growth, adoption, and usefulness of twitter throughout the world, Periscope and MeerKat will be there for the ride.
Is Periscope the MeerKat killer? That's a question many are asking, and suggesting, but I think logically and sensibly it would be best to let the market make this out and decide it would also be ideal if people would stop suggesting Device/Service A is a Device/Service B killer (it doesn't make sense), it's extremely plausible that both Facebook and Google are looking at an acquisition of MeerKat as Twitter is behind Periscope. I wouldn't be surprised if such an acquisition were to happen in the next couple of months if not the next few weeks. It would be foolish to make quick assumptions of the death of one of these apps and would be equally foolish to think MeerKat won't be snapped up (Amazon could be a player as well).