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A plan for your Live Video Streaming business

Live streaming – a great advancement in technology has provided a lot many uses ever since its inception. Especially that anyone can start an event and broadcast it live. It is that simple. You can broadcast literally anything from a concert; CCTV camera feed, a wedding, a movie or a national event and more. Even private parties and closed events can be streamed live and viewed on any handheld device.

Video Streaming business plan

Source : globaliway.com

Businesses and corporate organizations have been using live video streaming internally for years, for web conferencing, in-house training and face to face strategy meetings. Many successful start-ups have based their business on streaming media as well.

With cost efficient and instant responsive features, a lot of corporate industries have now chosen to arrange meetings online than to have them in person. Promoting or advertising the business may be the first and foremost priority of a business owner, instead of spending a huge amount on the promotion process one can use the live streaming  technique and promote their product over the internet saving quite a lot of money and time.

Live Video Streaming business plan

And for a business provider using live streaming software regularly, paying a monthly income as subscription charge will mount to a hefty amount in the long run burning a hole in their pocket. Owning a software for your live streaming requirements will save a hefty sum from your budget and with a great video streaming business plan you can even start your own streaming business.

But with the several competitors in live streaming business, a new participant may not be successful without following a proper video streaming business plan.

From the cost to customer support, there are several factors you should pay attention to in a business streaming live videos. And while planning your business; make sure your plan includes all factors necessary primarily the ones mentioned – A budget for your business, an efficient and cost efficient source to purchase the software and server for your business and most importantly an effective marketing strategy.

Budget

Though there are a lot of benefits from live streaming, the operational cost that primarily involves providing an uninterrupted service to customers cannot be eliminated. But it’s also a risk factor spending too much on a business that you are new to. And so are the marketing costs. With a great competition already an effective marketing strategy is cost consuming as well. Decide on a budget and make sure your expenditures stay in your budget.

Streaming software and server

An efficient video streaming software might probably be the most important investment or expenditure to your live streaming business. And with a few software developing companies contributing to that, it is not a matter of concern if you are not technically sound enough to write the code for the necessary software and create one on your own. With software like Castasy, Telestream, Livestream, Eyepartner and Twitch focused towards the creation of live streaming software and customizing it to the vendor’s requirements, you completely have no need to create a software on your own. Just choose the best software for your live streaming business.

A software requires a server to run it on and with several streaming servers in the market you might as well put in some thought before you could purchase one. Castasy might as well come as the best recommendation where the software comes as a package with a live streaming server as well.

The software comes as both mobile applications and web versions and has the feature to notify the streamers’ Twitter followers as soon as he/she starts a live stream and can instantly start viewing it. With the feature for the viewers to comment on the video live, making your stream more entertaining dragging the attention of the every follower. The UI and UX of the software are constructed based on the Usability compulsion Factor. You as the owner of the app have got the full fledged rights on customizing as per your requirement. With your smart phones everything on the app is just a matter of few clicks and you will be avail to enjoy the app further.

The software will be available for access on all platforms i.e. as a website and applications that runs on both iOS and Android. The company also provides the buyers with their very own streaming server and for a small installation fee, the techies at Castasy will install the system at your place. Castasy has the feature to notify twitter followers when the broadcaster starts streaming a video which saves the trouble of having to invite others to watch the video. Castasy allows viewers to comment on the ongoing video stream.

For a cheap rate of $399 the software comes as a full package that includes a streaming server, all three versions of the software, installation documents and free support for a period of three months. And for an installation fee of $199 the buyer gets expert installation and support in running the software.

And with each video getting a separate URL, several videos can be viewed on the browser by just pasting the URL to the browser. The browser version comes with all the features of the mobile version as well.

Marketing strategy

One other most important factor in running a business. Getting a decent customer base which in turn leads to a good revenue will only be an hallucination without the potential customers being aware of your service. And the huge competition will only make your business almost invisible to the broadcasters. Marketing is a cost consuming factor as well but with the budget figured out already, make sure your expenses do not exceed it.

A few other most cost consuming factors in running a live streaming business.

Providing a good streaming experience to your users requires a great internet connection.  Even a small interruption to a customers’ video stream might result in a drop in your income. Go for a good, cost efficient internet and provide a great customer support.

More people are interested in streaming their videos live through the internet to a wide audience and a streaming business might be the best choice an entrepreneur can make. And with a great video streaming business plan you are well set to be the best service provider.

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