Kozminski Techblog

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First of all, let’s clarify what a live streaming platform is? A live streaming platform is a website, application or software that allows you to broadcast live videos without first recording and storing them. It is a way to deliver a video file a little bit at a time, often from a remote storage location. By transmitting the video in small segments over the internet, viewers can start watching without having to download the entire file first.  In other words, your audience watches you as you create your video. Live streaming is a fantastic way to engage people in your activities, showcase your skills, and share your knowledge. While many people consider live streaming platforms primarily for entertainment, they can also be a successful avenue to make money and launch your career. Some popular live streaming platforms include Twitch, Periscope, Facebook Live, YouTube Live, and Instagram Live. 

Choosing a streaming platform for work can be a daunting task So, how do you select the best platform to meet your specific needs? Here are some essential criteria to consider:

•  Identify you core target audience:  Understanding your core target audience is crucial for the success of your live stream. Conduct research to understand your audience’s demographics, interests, and behaviors. This will help you choose a platform that caters to your audience’s preferences.

• Define your goals: Establish clear goals for your live streaming efforts. This will help you choose a platform that aligns with your objectives. The more goals you set and the harder you work toward them, the more likely you are to set even more goals and improve your skills further. For example, if you’re a gamer, you might want to stream on Twitch, which is the most popular platform for gaming content. If you’re a musician, you might prefer YouTube, which has a large and diverse music community. If you’re a business or an educator, you might opt for LinkedIn or Zoom, which are more professional and interactive.

• Research your competitors: Analyze your competitors’ live streaming strategies and identify the platforms they use. This will help you understand which platforms are popular in your industry. Follow these steps for competitor research:

1. Identify your competitors: Make a list of your competitors in the live streaming space. Try to find people who specialize in your sphere with the same target audience. You can also identify their platforms to know what features they have.
2. Analyze their content: Watch your competitors’ live streams and analyze their content. Take note of the topics they cover, the format of their live streams, and the engagement they receive from their audience. It can help you identify other important topics you may want to explore. 
3. Research their audience: Learn about your competitors’ audience demographics, interests, and behaviors. This information can help you understand your competitors’ core target audience.
4. Analyze their social media presence: Check your competitors’ social media profiles to see how they promote their live streams and engage with their audience.
5. Identify their strengths and weaknesses: Based on your research, identify your competitors’ strengths and weaknesses. This information can help you differentiate your live stream from your competitors and create a unique value proposition.

By following these steps, you can research your competitors in live streaming and gain insights that can help you create a successful live stream.

• Monetization and engagement: While live streaming monetization has been covered as a stream-specific feature, there are other ways to generate revenue from live videos. Of course, all the streaming platforms have their own ways to monetize you live streams.  For example, if you want to run ads, you’ll need to choose a platform that offers ad monetization options. If you want to charge viewers to watch your live streams, you’ll need to choose a platform that supports pay-per-view. Ultimately, the best monetization method for you will depend on your specific needs and goals. So, monetization can be crucial aspect for choosing the best platform. Before starting your business on streaming platforms, you should analyze all the types of receiving money. There are some variants how you can monetize your streams and according to them decide which platform suits you:

1. Ads: You can monetize your live streams by running ads. Platforms like YouTube and Twitch offer ad monetization options for creators.
2. Pay-per-view: Charge viewers to watch your live streams. This is a popular method for events like concerts, conferences, and webinars.  For this type of monetization you can use Uscreen.
3. Sponsorships: Partner with brands and companies to sponsor your live streams. This is a great way to earn money while promoting products and services. Twitch offers sponsorship opportunities for streamers.  
4. Affiliate marketing: Earn a commission by promoting products and services during your live streams. For this type of monetizing you can use platforms like Uscreen.
5. Donations: Accept donations from your viewers during your live streams. Platforms like YouTube offer donation options for creators.
6. Subscriptions: Offer exclusive content to subscribers for a monthly fee. Platforms like Twitch  offer subscription options for streamers.  

• Technical requirements and features: There are many different types of live streaming platforms, such as social media, video services, web casting and gaming platforms. Each platform offers a different set of features, depending on the target audience and goals. Some of the most common features of live streaming platforms include:

1. User interface: Simple and intuitive interface that allows users to easily find, view and create live content. Support various devices such as computers, smartphones, tablets and TVs.
2. Safety: The platform must ensure the protection of all sensitive data associated with payment functions, as well as limit access from suspicious third-party integrations and domains.
3. Scalability: Handle a large number of simultaneous views and broadcasts, as well as adapt to changing network and traffic conditions. Support various video streaming formats and protocols.
4. Pricing: Offer different pricing plans that suit the needs and budgets of different users. The platform must also provide the ability to view or create content for free, as well as monetize content through advertising, subscriptions, donations, or other means.
5. Registration: Provide the ability to register and login using email, phone number, social media or other methods. Allow users to create and edit their profiles, settings and preferences.
6. Search: Powerful and fast search function that allows users to find content based on keywords, categories, tags, popularity, date, location or other criteria.
7. Library: Organized and user-friendly library that allows users to view, save, download and manage their content live and on demand. The platform should also allow users to share their content with other users or platforms.
8. Recommendations: Intelligent recommendation system that suggests content to users that may be of interest to them based on their browsing history, preferences, subscriptions and other factors.
9. Feedback: Receive feedback from users through comments, likes, dislikes, ratings, reviews, surveys or other methods. Allow users to interact with other users and content creators through chat, video calls, messages or other methods.
10. Offline accessibility: The platform must be able to provide users with access to content offline if they have no or limited internet connection. Allow users to continue watching or streaming content when their Internet connection is restored.

These are some of the tools and features in live streaming platforms that you should consider when choosing the best platform for work. Ensure that the platform’s technical capabilities match your requirements.

• Match the platform with your audience: Matching the streaming platform with your audience is an important step to ensure the success of your live video content. Different platforms have different features, advantages, and disadvantages, and you need to consider your goals, budget, and target audience before choosing one. First of all, you should ask yourself a question «How many people do I want to reach with your live stream?». Some platforms have a larger and more diverse audience than others, and some may require a subscription or a login to access your content. If you want to maximize your reach, you may want to use a platform that allows you to stream to multiple destinations at once, such as Restream. 

In conclusion, remember that what works best for one live streamer may not be the ideal choice for another. It’s often a good strategy to diversify your presence across multiple platforms to reach a broader audience. Over time, you can focus more on the platform that yields the best results for your specific content and goals.

Sources:

1 https://www.linkedin.com/advice/3/how-do-you-choose-best-platform-your-live-streaming#audience-and-niche

2 https://www.uscreen.tv/blog/choosing-live-streaming-platform/

3 https://riverside.fm/blog/streaming-platforms

4 https://restream.io/blog/best-live-streaming-platforms/

5 https://streamyard.com

AI engine:

https://www.bing.com/search?q=Bing+AI&showconv=1&FORM=hpcodx

Image:

https://restream.io/blog/streaming-setup-what-do-you-need-to-stream-live-video/