The global video streaming market size was valued at USD 42.60 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 20.4% from 2020 to 2027.
The market may have increased in size during the global pandemic where businesses rushed to leverage live streaming.
Most looked to free platforms like Facebook, Instagram and YouTube for live streaming for business.
Others are the ones who launched their very own live streaming platform.
Before we delve on the differences between the two, let’s examine the impact that the COVID19 pandemic made on the live streaming sphere
Impact of COVID19 on Live Streaming Trends
Safe to say, it is largely agreed and expected that live streaming strategies will stay even after the pandemic.
What Is A White Label Live Streaming Platform
A white label product generally is a product built by one company and sold to other companies to be repackaged and sold as their own.
A white-label live streaming platform is a live streaming platform which you can broadcast on without obvious logos or links that lead back to the service provider’s page.
In fact, you will have the ability to make it look 100% your own.
Live streaming services such as BeLive Technology, DaCast and Vimeo offer end-to-end solutions to create custom white label live streaming platforms.
White Labelled Platforms vs Free Platforms
Having a live stream on Facebook, YouTube or Instagram would mean making use of the existing user interface on the platform.
Besides the exact content of the live stream, there is nothing much setting you apart from the rest.
What happens then is that your branding and identity will be lost.
But when you have your own white label live streaming platform, the service provider can create your platform exactly to how you want it to be to suit your branding.
This will promote a sense of brand loyalty, exclusivity and recognition for your users.
Monetization opportunity is always the most important factor for any business.
When you put in resources to having a live stream, you would want some form of returns as an outcome.
With your white label live streaming platform, you can implement direct monetization features such as ticketing, pay-per-view, or even a monthly subscription.
Monetization is very possible as well with free platforms, but it usually involves you having to sell something during the live stream, which also takes up manual stock-taking labour.
Apart from selling products live and implementing ads (on YouTube), there is little opportunity to directly monetize your live stream content.
Besides, even on your own live streaming platform, you can implement live shopping and payment features so you don’t have to do any manual stock-taking.
With your white labelled live streaming platform, you can have the exact live streaming features that you will need.
Some of the top selling features by BeLive Technology include live shopping and live polling.
While free platforms have interactive features for you to connect with your audience, over time these features might not be sufficient and you find yourself being restricted.
Platforms like Facebook and YouTube are full of distractions that can take away your viewer’s attention.
This can be in advertisements, logos from other companies and even algorithms that obstruct your reach and the viewer’s experience.
Not to be taken lightly, live stream quality can make or break your live video’s success.
A survey has shown that video quality is the most important factor to viewers.
Facebook Live is not as live as you think it is; it has a latency of 15 seconds. This means that whatever the broadcaster says or does will only be shown on the viewers’ screens 15 seconds later.
On top of that, Facebook only allows a maximum of 720p video resolution.
With millions of others using the same server on a mainstream platform, there are high chances of video buffering.
Engage in a white label live streaming service gives you the ability to ensure your live videos have extremely low latency; bringing the true meaning of real-time video.
BeLive Technology, for example, provides ultra-low latency live videos and resolution of up to 1080p.
The biggest edge of using mainstream platforms is that their live streaming features are completely free.
Free platforms are low-risk options for small businesses who are still starting out.
Furthermore, going live on these platforms can help your reach as well because of its already large user base.
The cost of creating a white label live streaming platform by a service provider will vary depending on your features and projected users.
But if you already have a team of developers, you can try using live streaming software development kits (SDK) as well.
A live streaming SDK lets you integrate live streaming technology into your existing platform quickly. For some, these SDKs are extremely customisable so you can retain your branding and adjust the features accordingly.
SDKs are sometimes more affordable as they go by monthly subscription fees.
Is It Worth It?
To conclude, white label live streaming services will give businesses an additional edge as it gives them greater control, more monetization opportunities and better features.
However, such factors may not be necessary for the smaller or newer business. In this case, Facebook or Instagram’s live streaming features are sufficient while they are starting out.
For more information on how you can leverage live video streaming for your business, contact BeLive Technology for your free consultation.