Best Live Streaming Software in 2024

What is Live Streaming Software?

Live streaming software performs live video streaming and broadcasting by mixing multiple camera sources. Broadcasting software produces professional-grade HD video broadcasts and live streams.

Streaming software for YouTube and Facebook helps in transmitting live events with the help of internet. It is widely used to broadcast business events, product promotion and more. Live streaming is one of the best ways to engage with your target audience. Even individuals use broadcasting software to connect with their followers across different social media channels.

Live video software provides encoding options by doing audio delays, picture-in-picture composition and live switching. Open broadcast software supports NDI or network device interface for a secured video uploading and multi-bitrate streaming.

Who Uses Live Streaming Software?

Live streaming platforms ensure that video transmissions are continuous and unobstructed to help businesses and individuals connect with their target audience. Businesses across all industries can use live stream software to promote & demonstrate their deliverables. Some of the frequent users of live stream platforms are:

• Business operations associates
• Consultants
• Marketing specialist
• SMBs
• Technical Architects 
• Laboratory technicians
• Financial representatives
• Students

What Does Live Streaming Software Do?

Live streaming software most importantly performs the following two key functions:

• Encoding: Live video software performs encoding for converting video feeds into suitable formats. You can also perform video transcoding for creating replicas of a video file. Live encoding software needs a stable internet connection and a desktop to perform video encoding for live broadcasting.
• Video Mixing & Editing: Live broadcasting software performs video switching for displaying various sources as and when a video is about to be broadcasted. For quick production, you can also add video and transition effects, titles to the video feed, switch between cameras and insert images. With live video mixing software, you can also add a pre-recorded video or images to the live stream.

Why Use Live Stream Software?

Live stream software is preferred over video hosting software because it allows users to connect instantly with the target audience in an interactive manner. Live streams are more candid and ensures transparency. Businesses usually prefer live broadcasting software, as it help them connect with their end users on a personalized level.

• Multimode and studio view features
• Audio mixer with multiple audio tracks
• Instant replay with live scoreboards
• Video conferencing & Q&A sessions
• Integrated chat functionality
• Local stream recording with an enhanced audio
• Video routing, IP and NDI support
• XAML for supporting animations

Live Streaming Software Features

• Real-time broadcasts: Broadcasting software makes it super quick to transmit live videos from any location in the presence of a stable internet connection.
• Access control: Streaming software for YouTube and other platforms lets you set user access permissions by securing passwords and limiting the existing sharing options.
• Audience analytics: OBS software helps you assess, analyse and track audience metrics for checking the current viewership.
• Session recording: You can use broadcasting software for YouTube and other similar platforms for recording live sessions for the later use.
• Audience engagement: Live video software supports integrated chats, Q&A, and live surveys to ensure higher audience engagement.
• Social media streaming: Live stream software helps in streaming live videos directly across different social media channels.
• VOD archiving: Live streaming software gets automatically uploaded and recorded as VOD (video on demand) to the media libraries.
• HTML5 players: Live streaming platforms support HTML5 players for multidevice compatibility along with current codecs and video containers.
• Encoder support: Open broadcaster software accepts streams by integrating with third-party encoders and transmitting videos into different formats.
• White label players: Live streaming software provides white-label players so that you can add your brand elements to a player window.
• DRM: Streaming software for YouTube offers DRM or digital rights management for managing copyright issues.
• Monetization: You can monetize your live streams by accepting donations and by running advertisements during live feeds.
• Live chat: Live chat feature helps the attendees and streamers interact during a live stream and make the sessions interactive.
• Highlights of live stream: Streamers can create highlight clips of their live sessions to be posted further on Facebook, YouTube, Instagram and more.

Benefits of Live Stream Software

• CDN for high-quality streaming: Live video software provides CDN or content network delivery for broadcasting videos in a high-quality format.
• Higher audience potential: There are cases where the audience may want to be part of your offline event but can't. OBS software comes to the rescue by letting your audience join you through live streaming of the same content.
• Flexible video content options: Streaming software supports the flexible use of multimedia and video content including live chats, texts and pictures.
• Convenient to use: Broadcasting software supports popular audio and video formats along with easy video encoding in multiple formats.
• Analytics tracking: The best streaming services offer analytics dashboards and tracking tools for analyzsng the success of a live event.
• Mobile streaming: Broadcasting software for YouTube and such channels provide live streaming capabilities for mobile devices with the support from HTML5 player.

How to Choose the Best Live Streaming Software?

• Compatibility issues, if any: At present, the most popular live-streaming protocol is HLS aside from RTMP. Check just in case there are any compatibility issues related to potential server ingest.
• Additional features: Go through the existing features being offered by live video software. Also check for advanced functionalities like live chat, monetization, analytics, etc.
• Budget & pricing models: This is one key factor when selecting the right OBS software. Both free and premium versions are available. However, if you are planning to launch a professional live stream, then a premium licensing model would be the most appropriate. Also, you need to consider if you have to stream live videos occasionally or to a larger group virtually. Streaming software are usually available on per event, per day and per hour basis for your convenience.
• Speedy video streaming: Video files are larger than data files and losses can't be recovered in case you lose data transmission due to the slow connection. Therefore, the fast speed of live video software matters.
• Support for remote teams: Live streams can help businesses connect with their remote employees and engage with them.

Live Streaming Software vs Hardware Encoders

Live streaming software is a program that runs on a computing device, unlike hardware encoders that are physical equipment. Also, live streaming software compared to hardware encoders are cheaper. Live streaming tools are often downloaded on desktop. On the contrary, hardware encoders are popularly used for mobile streaming over cell networks.

Some of the popular live streaming software are OBS Studio, Wirecast, vMix, and VidBlaster. Good examples of hardware encoders include Niagra Video, TeraDek and TriCaster.

Trends Related to Live Stream Software

• Live production: Live streaming is getting quite popular among those who want to earn more popularity with their impromptu actions. Businesses are also finding live stream software useful for making an instant connect with a larger audience.
• Support for remote workers: Live video software has helped in the current pandemic situation when working from home is the norm. Companies are making it a point to live stream and connect with their employees for keeping them productive and engaged.
• Immersive streaming: Soon 5G technology would replace the current 3G and 4G connections. Live streaming requires strong bandwidth and 5G technology may outdo the existing 4G LTE.

Potential Issues with Live Stream Broadcasting Software

• Bandwidth issues, impacting the video quality
• Inconsistent live streams and this could be because of an improper encoder
• Playback issues as the software may support some devices and not others
• Complicated configuration settings and complex cable routing processes
• Live encoding for capturing and forwarding the right camera signal may not work in unstable internet situations
• Live streaming and delivery would be difficult in cases of complex setup procedures
• Scalability may be an issue for serving customers in diverse streaming environments
• Playback issues in case the software doesn’t support the format you choose for playing
• Lack of editing functionalities during live stream might result in not-so-professional videos