Live streaming is a booming industry and has risen from obscurity to a cultural entertainment media bypassing the need of subscribing to traditional entertainment media like live broadcasting TV or white label TV service. Live streaming service is becoming popular for individuals and businesses.
Many people are opting for live streams because it’s an excellent way to promote content and, at the same time, earn money because of the monetization feature.
With more and more people who use the internet daily, the Streaming platform has made it easier for viewers to access their favorite content anytime, anywhere, using any type of device they prefer.
In this article, we’re going to walk you through the steps on how to set up a live streaming service for yourself.
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What is Live Streaming?
A live stream is an event where you stream your content in real-time over the internet. Real-time content would not go live if you don’t have a specific platform.
Users can access live streaming platforms if they have an internet connection, regardless of the types of devices they use, because live streaming platforms support various devices.
What are the benefits of live streaming services?
Let’s dive into the topic and why using streaming services has many advantages.
People are now opting for streaming platforms instead of traditional entertainment media because a streaming platform offers high-quality content, efficiency, flexibility, and cost-effectiveness.
Many business owners invest their time and money into streaming platforms because it’s an excellent industry where you can promote and reach a wider audience. When it comes down to marketing costs, streaming platforms are much cheaper than traditional advertising methods.
The best benefit you can get from live streaming services is that it supports various devices like smartphones and laptops, which consumers can carry anywhere they go. This means users can watch movies using smartphones which is very convenient. Moreover, streaming platforms can be accessed through browsers or a stand-alone application.
Live streaming services provide higher quality content because they use advanced equipment. Streaming data is stored on servers that have a considerable bandwidth capacity to render high-quality resolution.
The internet has created a new way individuals can interact with each other. One of the best environments users can interact with is live streaming services. White label OTT platforms provide features that help interact with users during live streams.
Furthermore, a live streaming platform is an excellent way of advertising products. If you own a business and want a cheaper way to advertise your product/service, you may contact live streamers.
How to Start Your Own Live Streaming Service
The first thing you should do is to set up your website where you will store the links to your live streams. Depending on what needs you have, any website can be converted into a live streaming website with the help of professionals.
A dedicated website for live streaming must be integrated with essential features like a built-in media player, share buttons, etc. Below are the steps in setting up a live streaming website.
Before looking for web developers, make sure you have everything you need and list the features you want for your website. Know what content you will be streaming, your target audience, who can access the stream, and the monetization model for your live stream. These things need to be investigated.
Choose a Business Model
What’s the point of building a live streaming service if you don’t monetize it. Live streaming can be monetized through VOD. There are three popular business models you can choose from: AVOD, SVOD, and TVOD.
Buy Domain Name
Unless you want a premade domain bought from a web hosting service, you need to buy a domain where you can host your website. And if you’re going to have a unique website address name, you can buy a domain name and customize it for yourself.
Invest in Encoding Software
Your typical camera doesn’t allow you to live stream. In most cases, you need to invest in encoding software to enable you to record real-time events on your live stream.
Encoding software is also optimized for recording live streams over the internet. Furthermore, video quality is enhanced if you use encoding software. Melon’s software encoder works by sending the feed to a cloud-based service and from there, sending the feed to multiple streaming platforms. Melon’s live stream app allows you to stream to multiple platforms as well as adding your own branding.
Security and Privacy
Security and privacy are essential if you want to provide a live stream or monetize your content. Build a live stream service dedicated to protecting users’ privacy and security. Various software and integration can help you strengthen your platform security. To avoid future problems with privacy leaks, you can use software and integrate it into your platform.
Live streaming via the Internet can be beneficial for businesses. It is convenient both for users and streamers because you can use the Internet wherever you are. It means that users can watch the streams even if they are not at home. A business can answer consumers’ questions in real-time and build trust with them.