Live streaming has gained a lot of popularity recently in the event industry and on social media platforms too. According to some, it has a lot of benefits to offer while others can disagree with it.
Live streaming, means streaming live audio and video coverage of an event via the Internet using tools for streams. So in this article, we are mentioning some of the advantages and disadvantages of live streaming, continue reading to know further.
Table of Contents
Advantages Of Live Streaming
1. Cost Effective
Cost is the most crucial element for any organization. Depending on your preferences and requirements the cost of live streaming will also be different. But live streaming services
is way more affordable than the traditional way of hosting an event.
The length of the event may affect other costs, such as wages, equipment rental fees, and more. While some streaming services offer a flat rate, others charge based on how much bandwidth is used.
The cost of live-streaming services varies. Most of the live-streaming service providers offer beginner packages that may be reasonably priced and let you use a variety of video and audio sources. A complex live stream may use a variety of audio and video sources, depending on the complexity of the event. It is always a good idea to compare the prices from different platforms.
2. Wider Reach
Wider reach is one of the main advantages of live streaming. Several social media platforms like youtube, Facebook, and Instagram allow you to save videos that can be watched later.
Because of the increased visibility, live-streaming videos can enable you to reach a wider audience.
Live videos can be longer since viewers spend 8 times as much time watching them, which offers more people time to find and watch your stream. You may increase brand recognition for your event thanks to all of these additional views, which can potentially lead to new sponsorship opportunities.
3. Build Trust And Reputation
The best part of hosting a live-streaming session is that it can help build trust and reputation among the audience. Businesses need to establish trust if they want to succeed.
Prospective clients want to be familiar with the brand and feel confident using them. Viewers can establish a relationship with the company thanks to the level of interaction on live video. This connection eventually builds trust if they like what they see. These kinds of live events are great for brand awareness.
4. Variety
When we talk about variety there is a lot that live-streaming events and platforms can offer. There are various types of live streamings options available for instance IP Video Live Streaming, Low Latency Streaming, Cloud-Based Video Streaming, on-demand live streaming
RTMP Streaming Multistreaming and Social Media Streaming. And not just that there are various live streaming platforms too like in-person event platforms for streaming, virtual platforms, and Social Media Streaming platforms.
Live streaming is a great concept and it just doesn’t stick to any particular industry. You can use Live Streaming Services for Events to live streaming services for weddings.
5. Revenue Opportunities
Events Live Streaming offers great opportunities to generate revenue. Best Live Streaming Services create new business chances by giving you the option to interact with new potential customers. Your business may decide to charge visitors to watch your live streaming as a strategic move. This makes your material exclusive and opens up another money stream. Additionally, you can also advertise in between your live-streaming sessions.
Disadvantages Of Live Streaming
1. No Second Chance
The major disadvantage of live streaming is that it offers no space for errors. For some organizations and businesses not having a second chance or a chance to correct errors can be a terrifying idea. But in reality, viewers can be more tolerant of errors. It adds a human element to the live stream, which is necessary for people to relate to your brand.
You must also be more ready than you would be for videos on demand because there are no second chances. Make sure you’ve checked and double-checked every piece of equipment, and keep a checklist close at hand. Put everything you might need in a convenient location before going live.
2. Online Only
The other disadvantage of live streaming is that they only take place online. While it may seem appealing to offer your consumers fast playback, these benefits might also work against you because streaming video only functions when there is an active Internet connection. They won’t be able to watch your material if the viewer’s Internet connection drops while it’s playing or if they need to watch it offline. In these situations, take into account giving the customer the choice to stream and download the video file in addition to implementing copy protection against piracy.
3. Demands More Bandwidth
The additional bandwidth needed for live streaming an event is another possible disadvantage. As video and audio data are transferred in real time over the Internet, live streaming uses a significant amount of bandwidth.
For instance, Netflix customers require a minimum of 5 Mbs to access high-definition content. You might not be able to live stream your event if there isn’t enough bandwidth available. Although non-HD video is always an option, many event planners are unwilling to compromise on quality for bandwidth.
4. No personal Interaction
Another drawback of live streaming is that there is no direct face-to-face interaction. When people are attending an event in person they can have direct interaction and make connections with each other but that’s not the case in the live stream as there is no face-to-face interaction users have to interact through screens only. They can chat, react and take part in polls and surveys to interact.
Final Words
Live streaming has more advantages than disadvantages for most brands and organizations. If you go for the best live-streaming platform you can access features that can make live streams more interactive and successful.
There are a ton of options to consider, and your audience will value the effort, for instance conducting interviews, Live Q&As, product or service demonstrations, etc are various ways in which brands can use live streaming in their favor. Live streaming has its own set of advantages and disadvantages but it depends on your requirements and how you can use it in your favor.