There’s no question that live video streaming is gaining popularity as a strategic marketing tactic. In fact, it has become the number one growth strategy for marketers around the globe.
There are thousands of examples and success stories illustrating how companies have used it to gain momentum and build their businesses.
But what does it cost to live stream an event?
The answer to that question is not as straightforward as one might think. The reason is there are several components to the calculation and each one can impact the ultimate cost.
The seven main components
The main elements that impact the cost of live streaming an event are:
1. Production Team:
The size and type of the event will dictate how big a production team is needed to carry out the necessary work to manage the event.
2. Equipment costs:
Once again the size of the event and the complexity of the production will determine how much equipment is needed. The number of cameras, audio sources, software programs, and computers are all pieces of the puzzle.
3. Internet component:
Depending on the setting where the event takes place, the Internet configuration may need some adjusting.
4. Image Quality:
The higher the bandwidth used, the better the quality of the programme. However, depending on the audience, if the bandwidth is too high, the ability to view the video, on a mobile device for example, may be impacted.
There is always a balance to be reached between the quality of the video and the quality of the experience viewing it. So that balance will be a determining factor on cost. Higher bandwidth costs more than lower bandwidth streaming.
5. Viewing time:
This item is fairly intuitive. The longer the duration of the viewing time, the higher the cost.
6. Number of participants:
Again, this is a straightforward number. It’s the number of people viewing the event which in turn affects the amount of data transferred. The more data transferred, the higher the cost.
7. Streaming Provider set up fees:
Some companies charge a set up fee and others do not.
Estimating your costs
To help determine the cost of video streaming, we offer a pricing calculator online. This tool allows you to change the input for several of the components to see the impacts of each one. However, items 1-3 aren’t included in the calculations. There are just too many possibilities and variety of costs for production.
Production costs could be zero if you use your existing webcam and computer, or it could be tens of thousands of pounds if you need a complex setup using a professional video production company.
But our calculator will give you a good estimate for streaming costs beyond production.
If you are interested in learning more about using live streaming from PlanetStream, contact us using the form at the bottom of the page, or click here for more information.