Have you noticed how everyone’s hooked on live streaming platforms these days? The live streaming market hit $87.55 billion in 2023 and is expected to grow 23% every year by 2030.

That's not just a trend. It's a revolution in how we connect online.

Your business may struggle with poor video quality, constant buffering, and dropped connections that can frustrate your viewers.

Let’s explore how a reliable live streaming solution can prevent these frustrations and help your business reach more people.

What is a live streaming platform?

A live streaming platform is your virtual stage where you can share anything, be it company events, product demos, training sessions, or live shows.

Live streaming solutions handle every part of your broadcast. This includes turning raw video into quality versions, handling CDN distribution, viewer authentication, chat features, and more.

Here’s why businesses need it so much:

• Interact with your audience while you're live - just like having a real conversation.
• Adaptive bitrate streaming automatically switches videos to lower quality when someone's internet is slow, so they don't miss anything.
• Track when most people watch and how long they stay engaged.
• Make money by pay-per-view options or recurring subscriptions for monthly or specific events.

What are the features of a live streaming platform?

While a live streaming solution offers great features, let’s explore 6 top features that can make all the difference:

1. Embed Video Content

Embedding is placing a video player directly on your website. Imagine watching YouTube without going to YouTube.com - that’s embedding!

Your viewers can watch right on your site, boosting average session times and play-through rates. You can track exactly how long people watch, when they leave, and which parts they replay.

What's next? You can use this data to add your streams to landing pages, blogs, or course platforms to match how your business works.

2. Social Media Sharing

Here's how social sharing works: Your stream can go live on Facebook, Twitter, and LinkedIn all at once - no need to post separately.

During live broadcasts, create short clips of key moments to share instantly on social media. This improves your brand’s visibility by engaging audiences across multiple platforms.

3. Monetization

This feature is gold because it lets you turn your content into income with different payment choices. Your viewers can now pay for single streams, subscribe monthly, or watch ads.

You have the ownership of how you want to make money. Some businesses sell tickets to virtual events, while others offer monthly subscriptions for exclusive content.

4. Fast Global Delivery

Nobody likes waiting for videos to load. That's why good live streaming solutions use a Content Delivery Network (CDN) with servers to minimize latency.

Your stream reaches viewers from their closest server, reducing the buffering time from milliseconds to microseconds. With this feature in hand, why wouldn’t customers stick around?

5. APIs for Integration

APIs in streaming platforms provide ready-made codes that let you integrate live streaming into your existing software. For example, you can use REST (representational state transfer) APIs to add live video players to your mobile app.

This triggers automatic emails and connects payment gateways like PayPal to handle your subscriptions. Integrations can automate your workflow and simplify the entire process.

6. White Labeling

White labeling means customizing how your streaming platform looks to viewers. Instead of seeing "Powered by [Platform Name]," they see your company's complete branding.

You can customize every visual element, including loading animations, error messages, and more. You can add your logo and fonts and even host it on your own domain name, like stream.yourcompany.com.

How to Choose the Right Online Live Streaming Platform

Picking the right live streaming solution is exactly like choosing a business partner.
Let's look at what matters most when making this choice:

1. Multiple Domains and Methodologies

Your streaming platform should do product launches, online classes, or virtual events smoothly. Look for a platform that lets you switch between different streaming styles, like webinars, live sessions, or on-demand content, without any extra setup.

This will save you a lot of headaches, like audio issues or video quality problems mid-stream.

Pro tip: Test the platform with a small event first to see how it handles your specific content type.

2. Engagement Aspects

If you think that good streaming is all about broadcasting, you might be wrong. It is also about connecting through chat features, quick polls, and reaction buttons.

Advanced integrated analytics also track viewer engagement, showing which polls or reactions resonate the most with your audience.
This not only enhances engagement but also provides you with valuable information to refine your content strategy.

Pro tip: Stream live videos with friends to check how these features work in real time.

3. User Friendly Features

A good streaming platform should be straightforward to use - clear menus, simple setup steps, and settings that make sense without needing an engineering degree.

Spending hours figuring out technical settings is the worst a platform can provide to its customers!

Pro tip: Look for platforms that offer quick start guides and video tutorials to get you streaming fast.

4. Price and Value

Cheaper isn't always better when it comes to live streaming solutions. Basic plans include HD streaming and analytics. Premium tiers add 4K quality, white labeling, and API access.

Higher viewer counts mean higher costs, but also more monetization opportunities. You might also want to keep a special eye on hidden costs like bandwidth charges per viewer hour, storage fees, and more!

Pro tip: Calculate your real cost per viewer by checking how much you spend for each hour someone watches your stream.

5. Customer Support

During online streaming, unexpected issues might occur, so your platform should offer quick help through chat, email, or phone. Check if your live streaming platform has troubleshooting documentation, API guides, and emergency protocols.

This will help you resolve technical hiccups and emergency outages. Good support can save your stream when things go wrong!

6. Content Goals

Choose a platform based on your content goals. For instance, for online courses, you'll need recording options and student analytics.

Virtual events require features like ticket processing, multi-presenter support, and breakout room capabilities. Do some matchmaking and align the platform features to your specific needs.

Summing Up

A good live streaming platform creates engaging live content, builds your audience, and even allows you to make money from your streams.

Don’t stay behind your competitors. Begin small, test different features, and pick a platform that matches your goals. The live streaming market is growing fast, and there’s room for everyone.