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In this guide, you’ll learn what it takes to run a successful live stream for your business.

First, we’ll touch on a live streaming checklist to help you get started. Then we’ll dive into live streaming tips and tricks to help you before, during, and after any live event.

Before we go into all of that, let’s see what live streaming is and why it is crucial to have a live streaming business plan.
What is live streaming and how does it work?
Live streaming is not the same as subscription video on demand (SVOD).

With subscription video on demand, the video file is sent from a remote storage location over the internet. You can think of Netflix, Hulu, and all your other favorite streaming platforms in this category.

So what’s the difference between SVOD and live streaming?

With live streaming, the video is broadcasted in real-time over the internet from one source to hundreds or thousands of viewers. They watch the video at the same moment you create it — no filters or edits.

But do people watch live streams? Oh, yes. They do.

One report found that 47% of viewers worldwide are streaming more live videos than a year ago. For example, in the sports sector, viewers live streamed 560 million minutes of the 2019 Super Bowl.

However, live streaming is not limited to sports as brands worldwide spent over $90 billion on video content in 2018, according to Forrester, with spendings expected to rise to over $100 billion in 2023.
The value of a live streaming business plan
Live streaming has become an integral channel for brands to create authentic connections with their customers.

When crafting your live streaming business plan, you need to consider costs and the return on your investment.

You also need to think about the goals of your live stream. Is it to build awareness? Build your email list? Sell a product or service?

Below are four benefits businesses can receive from live streaming.

Building a wider audience
Live video content thrives on social media platforms like YouTube, Facebook, and Instagram.

These platforms push live content to a large number of users.

Just like a football game broadcasted live would draw in a broader audience of viewers, so too would live streaming create more awareness for your business event.