EP 27 – How to add Live Streaming Services to your Business
For us, the video content we are creating monetizes itself. We are in a very unique situation where the process of improving our video production is just as important as the content we are covering. Many of our viewers will tune in just to see the new technology we are using during our presentation and the conversation often turns to a technical review outside the main presentation content. This is perfect chance for our viewers to ask questions about our studio in an effort to increase their own show’s production value. But what about real businesses who want to add products and services to support this growing world of live streaming?
We have interviewed over ten industry professionals who run businesses in the video production and live broadcasting world. Some have booming businesses serving the live streaming market and others are still just dipping their toes into new waters. We have an hour long webinar on “How to add live streaming services to your business” which includes interviews with these business owners you may want to check out. But let’s start with ten possible services you could add to your business.
- Service #1 – On-site Streaming / Setup / Training Programs
- Service #2 – Offering Studio Time
- Service #3 – Studio Build & Installation
- Service #4 – Show Design, Branding & Marketing
- Service #5 – Workflow Consulting – SEO Strategy
- Service #6 – Remote Management Camera Operation
- Service #7 – Custom Computer Builds
- Service #8 – Training for both Software and Hardware
- Service #9 – Post Production / Content Distribution
- Service #10 – Social Media Management
The most common service available in the market today is on-site streaming and setup. Companies are commonly being hired to live stream events for their customers who either do not own the equipment necessary or do not have the skills required. Another completely different side of the business is where video production experts will sell access to their own studios. This model is very popular and has many benefits including the ability to create high quality video for yourself and clients in the same space.
Setting up live streaming systems for customers is another booming market right now here in 2018. The way these services are delivered vary quite a lot and the potential for value add is quite high in many circumstances. One of my good friends, Tom Sinclair from Eastern Shore Broadcasting, just focuses on building and designing the live streaming system in his home and shipping them out to his customers. He will design a custom computer built to fit the needs of his customers. He will provide remote support and even sell most of the equipment required for the physical installation. This is a very cost effective business model because for most of Tom’s customers, who are not located in his small town of Fairhope, Alabama, he does not have to provide actual on-site installation. This is a potential cost saver for many customers and as one of Tom’s customers, I know we appreciate having someone to call when something isn’t working quite right.
Providing on-site installation for live streaming studios is perhaps the most valuable service on our list and it provides businesses the opportunity to make quite a lot of money. This business model is by no means new. The audio visual installation market here in the USA is a multi-billion dollar industry and their are massive companies that employ thousands who have been in business for 50+ years. While the market is large and competition abundant, there still lies a large opportunity for businesses that want to focus on live streaming specifically.
Another side of the live streaming market that can enhance many businesses is the marketing and consulting opportunities. During our interview series, available on our YouTube channel, we heard over and over again that the digital media landscape is very complicated for businesses to navigate. The thought of live streaming for many businesses is just another responsibility on top of social media posting, content creation and the blogging that they don’t have time for. Marketing and branding agencies are already in the perfect position to help companies start a regular live streaming show that will accomplish many of the goals they are being hired for already. Now that live streaming is so tightly knit with social media and end user engagement, the time is ripe for marketing companies to jump on board and add consulting packages focused on the live streaming industry.
Finally, post-production has always been a huge market in the video production world. Many of the business owners that we talked to who own video production companies are wary about offering real live streaming services. But just like Krystall from Old Soul Decor many video production and staging companies are starting to realize that the writing is on the wall. Justin Chan the owner of Valley Creek Productions, told us that they have only live streamed one event and the quality wasn’t up their standards. Bad experiences like this can push the perfect opportunities for a business like this from ever making their way to the light of day. Traditional video production companies are in the perfect position to offer live event streaming services.
Again, this is a problem we are trying to solve here at StreamGeeks. By bringing together professionals from all over the industry in our interview series, we hope to provide perspective for businesses around the world. By showing the successful companies right next to the companies who had a bad first experience we should be able to open everyone’s eyes to the opportunities at hand. We interviewed marketing professionals, social media enthusiasts, on-site live streamers, video production companies, custom computer builders and studio managers. This was an insightful StreamGeeks episode for anyone interested in adding live streaming services to their business. You can watch this episode on our YouTube Channel and see the full unedited interviews their as well.