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All types of businesses, including small firms and corporates, stream content online to attract and engage their audiences. Streaming live events, such as seminars, conferences, and concerts, allows businesses to reach out to global audiences who can’t be physically present at an event.
However, recording and broadcasting videos in real time require technical knowledge. You’ll have to hire experts to encode videos to your desired streaming platform or your website. Also, the process is time-consuming, and if elements such as the background or volume are not edited professionally, audience engagement can take a hit.
This is where live streaming software becomes useful. With a built-in encoder, the tool converts your videos into the digital format so you can stream them on a platform of your choice. It broadcasts live events over the internet while allowing you to measure streaming performance and audience feedback and engagement.
In this buyers guide, we explain what live streaming software is, its features and benefits, and the considerations you should keep in mind to select the right platform for your business.
Here’s what we'll cover:
Live streaming software is a software tool that encodes live videos and feeds into a suitable format to broadcast over the internet in real time. It’s used by businesses and individuals to promote themselves and entertain a live audience over social media channels, YouTube, or other platforms.
A live streaming platform lets users capture, stream, record, and share live content as well as interact with the audience through real-time engagement options, such as live chat.
Audience analytics in Restream software (Source)
Software features vary by product or vendor, but most live streaming software tools have the following overlapping features:
Real-time broadcasting |
Live broadcast video, audio, or other media over the internet. Allow your audience to not only watch or listen but also participate in events via engagement options such as live chat. |
Audience analytics |
Track and analyze viewership metrics such as audience behavior, engagement, geographical breakdown, duration of views, and viewership by device. This information will help you develop a stronger target audience, improve content for future events, and boost performance. |
Audience engagement |
Engage viewers using tools such as live surveys, live polls, chats, and Q&A sessions. Turn your attendees into active participants, and understand their opinions to serve them better. |
Access controls/permissions |
Use permission settings to control who within or outside your organization can access your live streams. |
Performance Monitoring |
Use analytics to monitor streaming performance. Track details such as average watch time or the number of viewers during a specific period to analyze the performance of live streams and make changes in upcoming programs. |
Session recording |
Record live video sessions for future use. Share the recorded videos on different platforms or embed them on your website to increase reach. |
Social media streaming |
Live stream content on social media channels, such as Twitter, Instagram, and Facebook, to attract viewers and bring them back to your own website. |
Event scheduling |
Plan the time of a virtual event (e.g., meeting, conference, product launch), duration of the event, agenda of the event, etc. |
Video monetization tools |
Get paid for the videos you stream online. This can be done by inserting ads, charging audiences to access your video, or letting viewers purchase an interaction with the streamer. You can also generate revenue by selling digital products, such as paid memberships, online courses, or digital downloads. |
Before purchasing live video streaming software, you should assess which buyer category you belong to. The majority of buyers fall into the following categories:
Listed below are some benefits you can expect from using a live streaming app:
Here’s something to keep in mind when purchasing a live streaming system:
If your company hosts live events for a large number of participants and requires advanced features such as access control and permissions, video editing, animation, unlimited viewers, and live channels, you can opt for a subscription-based platform. But if you stream to fewer viewers, look for a free live video streaming app with basic features such as compatibility with video editing platforms, limited streaming hours, screen sharing, and custom graphics.
Here’s a trend in the live streaming software market that you should be aware of:
Note: The application selected in this article is an example to show a feature in context and is not intended as an endorsement or recommendation. It has been obtained from sources believed to be reliable at the time of publication.