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By Arjun Kharpal, CNBC

Live streaming app Periscope is following their rival Facebook, testing a feature to allow users to permanently save their broadcasts in a bid to attract more brands and advertisers.

The news was announced on Periscope (of course) late on Wednesday.

All a user needs to do is put "#Save" anywhere in their broadcast title.

"That means that this broadcast will stay forever, you can always delete it still," Kayvon Beykpour, chief executive of Periscope said on a live broadcast.

Read More from CNBC: Can Periscope Help Jumpstart Stagnating Twitter?

Beykpour added that the company is "actively building support for controlling how your broadcast stay on Periscope" and working on a "full solution" to give users options before and after the broadcast. These can be expected "in the near future".

The ability to save and re-watch live streams has been a feature of Facebook's streaming service for some time. Analysts said the feature could help Periscope attract advertisers as it looks to monetize the platform.

"It's important to Periscope's own strategy in terms of working with brands and advertisers for monetization. Some might have been put off by the limited time that Periscopes were available," Jack Kent, senior mobile analyst at IHS, told CNBC by phone.

Read More from CNBC: Facebook Expands Live Streaming to Take on Periscope

"The (previous) challenge (for Periscope was) getting viewers within that 24 hour time frame. This new feature will make it a better position to make it a big brand attention Periscope and Twitter need."