What are live streaming services?
Live streaming is the process of delivering media content, be it live or on demand, to computers and mobile devices over the internet in real time, without the need of having large files to download. This is a complex and sophisticated process that has an array of scalability. Live streaming is becoming increasingly important in today’s digital world with the advent of new social media platforms. With the increased use of mobile applications, users are completely connected to the internet no matter where they are. And to take advantage of that, more and more companies are using live streaming services to reach customers who are on the go. Companies are now able to transmit an event in which the consumer is instantly notified by using an application about the event. This same consumer can tune into the event at the very moment it is happening and receive the information that they want. Whether it be entertainment or information on a product, the consumer can now get the information from anywhere with a mobile network provided there is an application that supports the company’s live streaming service. Perhaps the biggest feature of live streaming is two-way communication. An event can be held with Q&A sessions at the end of presentation where the consumer poses a question. And with live streaming, that question can be answered right there on the spot. The consumer feels more involved and connected to the event and this can help strengthen a company’s brand as well as build a stronger relationship with their customers.
Importance of live streaming in today’s digital world
This leads on to the second point, with the vast array of streams available, information can be processed in bite-size quantities from a large variety of sources. If in the live streaming’s case, it is a live event, it’s possible to hop between various streams showing the same event at different angles, from different participants; in all cases providing a more comprehensive overview. Consider professional sports; with the money involved in live sports coverage, it is very rare that a single broadcast will show anything more than the main event and perhaps two featured opponents’ pre and post-game. With live streaming, games outside the spotlight can enjoy exposure of the same quality as the main feature.
First of all, the consumer is the driving force behind the success of live streaming. In this day and age of digitization, instant gratification is the norm. With traditional media, say for example television, showing what you want to see when it’s actually on may involve setting up a recorder or remembering to watch it at a said time. Even though this still exists, many broadcasters offer their catch-up services which are available only on the internet. Step forth live streaming, this makes things even easier. On a single page you’ll be able to see all the streams from various broadcasters and it’s as simple as clicking a link.
Live streaming is proving popular in today’s digital age as more and more enterprises are turning to this technology to get their message across. Whether it’s being used for lectures, product promotions, marketing events, public announcements, and many more, the uses are endless. What we need to understand is why live streaming is having such a profound effect on the way we see things.
Benefits of Live Streaming Services
Currently, there are various live streaming platforms available worldwide, including instant messaging, video sharing apps, and social networks. This service may be very interesting for you to try and can be used to do fun things. But take an example for business services. This mode is somewhat more effective compared to the video call feature. In fact, it will be very profitable when utilized properly. The live streaming feature has its own way to attract consumers by presenting interesting shows and interacting with viewers in real time. An example is an online consultation service that can be used to consult consumers about making a logo, web design, and so on. With a live consultation, it will be easier to implement consumer desires and present the design directly. But all that can only be realized by using live streaming services.
Reach a wider audience
To reach a global audience became quite possible with live streaming, hence it’s easily understandable that our aim is “reaching a wider audience” as compared to other traditional media such as television or radio. These traditional media at their peak may also reach certain numbers of viewers from other countries, but this happens very rarely and certainly will cost them a lot of money. This is contrary to the live streaming services when you organize an event or any other occasions, you can set the date and time when all of the viewers around the world can easily watch it without any barrier of their location. Plus the additional advantages, your recorded live stream can be treated as a video on demand for further promotion, thus if you see it again it still will give the same result as when it’s streamed. During live streaming event, especially with some product demonstration, musical event, or any other promotional events, it’s common that there are questions or even critics straight from the viewers. Positive critics can be directly used to improving the features on your products or any other future events, while negative critics can be treated as the areas for further repairment. And it’s all come when you can directly interact with the viewers in real-time. Still with the same “immobility” problem from traditional media, you can only show your local event to the local viewers. But live streaming can give you more than that since it’s truly on the internet. From the global viewers, you can get more recognition for your brand or product. A gamer can get more challengers from different countries by holding an international gaming tournament, a company can show their products’ quality to the global market, or a band can hold a worldwide music event which is more cost-effective than using traditional media. Step by step, this will increase your brand visibility and engagement in the global market.
Interact with viewers in real-time
There are a few platforms for live streaming. For Twitch, there is an embedded chat system and chat room where viewers can have conversations with the streamer, other viewers, and also moderators. Viewers can whisper or send private messages to the streamer. This chat system allows a more discreet one-to-one conversation between streamers and the viewers. For other live streaming platforms, there may be different chat systems available. For example, YouTube Live uses the YouTube comment system and some may use an external IRC. These chats are usually recorded and can be displayed in the video for future view. Depending on the streamer’s response to the viewer’s message, it has a varying level of interaction, but the chat system generally enables the same two-way communication.
Interacting with the audience is essential in the new era of marketing. Live streaming allows real-time communication between the streamer and the audience, so viewers can ask questions and give suggestions. The viewers are able to give feedback instantly on the content and the current broadcasting games or contests. The given comments or suggestions can intentionally spark new ideas for the streamer to produce events or improve the channel’s content. Viewers can feel more connected to the streamer as it feels like a two-way communication where the streamer answers questions and responds to comments. This helps in building a community within the channel and further retain the audience for future content.
Increase brand visibility and engagement
Brand building is a process of creating value to create an emotional connection with consumers. It is a strategy designed by companies to set themselves apart from the competition by creating an identity in the minds of its consumers. Brand image has a direct correlation to consumer behavior. The greater the perceived brand value, the greater the probability of purchase and repurchase. Live streaming adds value to a brand by delivering high-quality, dynamic content. According to a survey by Newlio, 63% of people aged 18-34 are likely to view a live stream broadcast, and 42% of consumers prefer live stream video over pre-recorded video. With live streaming, you can also associate your brand with major events. For example, ESPN’s brand image is associated with broadcasting major sporting events. High-quality coverage of these events gives viewers a positive reinforcement of their brand image and encourages brand loyalty. Lastly, live streaming helps articulate a brand’s identity by allowing the company representative to directly communicate with consumers in a more personable, human way.
By live streaming events, forums, and exhibitions, your organization could open up a whole new channel of communication with its viewers. Live streaming creates organic engagement between you and your viewers. It encourages them to participate, post comments, ask questions, and receive answers in real time. Whether they are watching a presentation from a PC or mobile device, viewers can engage in two-way communication, getting what they want when they want it. It is this interaction that helps increase brand image and viewer loyalty.
Generate revenue through monetization
With crowdfunding, many newer streaming services have been resorting to this to start-up or improve their streaming services. This would involve the viewers donating real money to the host with nothing in return, whether it may be a large or small sum, every donation counts towards helping to improve the service.
Subscription is locking certain content from free users and requiring a payment to access it. This method is very effective if you already have a large viewer count. Micro-transactions are typically exchanging viewing points into spending real money for additional features in a live stream, whether it may be show certain content, custom emoticons to use within the stream, or use the points as a form of donation to show support to the host. Usually there is a sharing ratio between the site and the host, the site taking for the server cost while the host takes the rest.
Monetization is the strategy to generating revenue and profits from your content. Usually used for streaming services to gain additional revenue apart from the host themselves. There are 5 types of monetization which are ad revenue, subscription, micro-transactions, sponsorships, and crowdfunding. Ad revenue works by playing an ad related to the content being shown and the revenue variable is based on how many viewers actually saw the ad. This method would be very inconsistent and not very effective.
Factors to consider when selecting a provider
The second consideration is the ability for the provider to reach out to a global audience. In a perfect world, viewers will be able to access your site from anywhere across the globe. However, this is not always possible resulting from the technology limitations of some countries. Providers should be able to offer several options around the world for video delivery. One of the most cost-effective methods is to distribute the video through Akamai or Limelight. These are large video delivery networks that provide high-quality video delivery worldwide. A simple way to check if your video is available globally is to test the video from a computer from a different location (using a different IP address) from the video source. If the video plays, chances are that it will be available to most people around the world.
There are several important things to consider when selecting a live streaming service provider. Primarily, it is crucial to understand the provider’s infrastructure. This is usually the cause of most live streaming failures. Generally speaking, there are two things that happen once the video is captured and encoded: 1. It is sent to a live streaming server and 2. The server distributes the video to the viewer. The key here is to focus on the server. The best practice is to use the Windows Server platform and install Microsoft Media Services. This provides the best video quality through the internet. Using other protocols such as RTP or RTSP is not ideal because they are not able to provide video through firewalls. This means that video can only be viewed on the viewer’s side and there is no way to reach out to a wider audience. Video on HTTP is also not ideal because of the technology’s own limitations. The best way to determine what protocol the provider is using is to consult the provider’s engineer. This is also a good time to test customer service as it is prompt and accurate.
Popular live streaming service providers in Singapore
Another quality service provider in Singapore will be Streamcast. Streamcast is a new media technology firm specializing in the use of streaming media for marketing and advertising. They leverage the latest streaming media and webcasting technologies to help companies better communicate marketing and sales messages to customers and partners. Streamcast offers more than competent support and is a professional service provider for people who want to do live streaming for corporate events and clients.
One of the most popular streaming service providers in Singapore is VideoLane. VideoLane is founded by a group of IT professionals who have different domains of knowledge and skill sets. VideoLane’s mission is to offer live video and audio streaming solutions with cutting-edge technology at an affordable price. VideoLane is also known for their top quality support and dedication to customer service.
If you are looking to find a popular live streaming service provider, it will be wise to consider the option of Singapore-based live streaming service providers as they will be able to provide you with the best support and services. Singapore-based service providers are better choices as they use local servers and have better infrastructure and support in Singapore. Hence, we have compiled a list of popular live streaming service providers in Singapore to better aid you in your selection.
Pricing and features comparison
Finally, do consider the reputation and track record of the service provider. An easy way to gauge the success of a service provider’s solutions for live video streaming in Singapore is to look for any local companies that have engaged their services. Take note of any award-winning results or a massively successful high-scale event – these are good indicators that the provider has both the expertise and technology to provide a comprehensive solution for your event.
Aside from the basic requirements such as the costs for bandwidth and the hardware that your provider will recommend, you will need to evaluate whether the features that are provided are suitable for your webcast. Some providers may only provide a solution that is a standalone event and not interactive. Some features that are common to most event-driven live video streaming from Singapore would include event registration and marketing, and providing the event on demand after it has taken place. These features are aimed to enhance the viewing experience and are also a form of marketing for your event. Other features are definitely targeted to enrich the viewing experience. For example, a company may want to provide live translation for an international audience, or perhaps even a live video stream with a presenter doing sign language. These kinds of features are definitely niche; however, for the right customer, it is imperative that they be available.
As with any product or service, consumers have to consider their budget when selecting a live streaming package. Pricing options tend to vary among different service providers, and currently there are also varying payment models across the different services. Some are based on pay-per-view or monthly subscriptions. For example, a package with Ustream’s pay-per-view service costs 20% of the revenue from your event. A 3-day event with 100 viewers each paying $10 works out to a total of SGD$6000 revenue, of which SGD$1200 is paid to Ustream and you get the remaining SGD$4800. In comparison, a monthly subscription service offered by LiveStream would cost a minimum of SGD$199 (based on SGD$99 for the first 50 viewers and SGD$100 for 51-100 viewers) for the premium package. The payment model is more ideal for long-term regular events, whereas the pay-per-view option is more suitable for one-time events. The above prices are indicative and may be subjected to change by the service providers. Figure 2 – Ustream PPV Results Calculation
Conclusion
Set a two-way communication with the presenter and audience, and it can be private or closed. So, it has a strong possibility to make interaction between a small number of audience and presenter. Unfortunately, this service is not intended to stream information or events to a large audience. Besides the content or material, the presenter has to prepare the audience invitation or access, which in many cases is difficult to be informed and coordinated. And especially for the artist or presenter from the public, they have to prepare the legality about their event to inform the audience invitation.
The delivery service can make the event run smoothly and satisfy the audience without being present. Also, it is simple for organizers because they don’t have to prepare the video and the audience doesn’t have to download the video. Even though it’s good, the service lacks interaction between the artist and the audience. It’s just one-way communication, so it might affect the entertainment value, which is the interaction. On the other hand, video conference through cyber media with Webex as an example can be a good alternative.
