It's time to look at possible live stream setups for every budget since individual budgets vary, and so do people and their respective circumstances. Some take the plunge when building a live streaming setup and spend thousands, while others want to test the waters first using a basic setup. One thing to remember is that having the best gear and equipment doesn't matter if you don't have a strategy about where you want your stream to go.
Online streaming is one of the fastest-growing industries. In fact, the video streaming market is worth more than 30 billion dollars. It's expected to be worth more than 70 billion dollars by 2021.
While investing in some equipment may seem essential if you want to grow your live-streaming career, you don't need a complicated setup. Even if you stick to the basics, you can produce amazing live streams. Remember, it's about the information that you share with viewers and the value that they take away that can grow your show, not the gear or equipment you have.
What is the goal of live streaming?
Live streaming technology lets you watch, create and share videos in real-time, a bit like live TV. All you need to be able to live stream is an internet-enabled device, like a smartphone or tablet, and a platform (such as a website or app) to live stream from.
So, irrespective of whether your live streaming goal is to connect with your audience, train employees, or stream events and webinars, this guide will explain the basics of a live streaming setup and suggest various arrangements for different budgets.
Live Streaming Setup Budget
When it comes to setting a live streaming budget, there's no ideal budget.
The exact cost of live streaming can be obtained based on your live streaming goals, what you want to focus on as a creator, and how much additional income you have. For example, if you just want to interact with your Facebook group, you can live stream for free using StreamYard, your computer or smartphone, and a Facebook account.
On the other hand, if you're looking for studio-quality live streaming, including high-quality audio and video, you'll want to invest in high-end equipment and gear, so you'll need more money to purchase equipment and accessories.
Beginners can create live streams on a budget by spending zero to a few hundred dollars. Whereas intermediate or advanced broadcasters may need a complex setup with multiple cameras and microphones. This can easily cost thousands of dollars.
Sticking To A Live Streaming Setup Budget
We agree that those at the top of their live-streaming games may have some incredibly expensive gear and you could be tempted by gear acquisition syndrome. But not everyone needs to splurge on equipment to create engaging live content. This holds true, especially if you're just starting or are on a tight budget.
Remember, creating high-quality live streams is possible even if you are on a budget. So, make sure you set the budget as per your needs and then stick to it. You can always improve your setup as you bring in additional revenue.
Live Streaming Setup Basics
Whether on a budget or not, you'll need a few essentials to start your live-streaming journey. First, you can live stream using a PC or Mac laptop, or smartphone. Although the built-in microphones in most devices will give you good results, investing in an external mic is recommended for better quality. Remember, audio is the most important part of your live stream. So, your prime focus should be audio when building a live stream setup.
Next comes the video. If you're not happy with the quality of the built-in webcam in your device, you can use external cameras like DSLRs and action cameras (such as GoPro, DJI Action 2, or Insta360), or your smartphone to go live.
What you choose depends on the type of live streaming you do.
For instance, if your live streaming is strictly related to games, you'd have a different live streaming setup than someone who does live streams for business or as a content creator.
In any case, here's a list of the absolute basics you need:
- Computer: You need a device to live stream, for example, a computer, smartphone, or a console with a live streaming feature
- Internet connection: High-speed and stable internet connectivity is a must for smoother broadcasts
- Audio sources: Your device's built-in microphone or external microphones
- Camera: Built-in webcams, third-party webcams, external cameras, etc.
- Lighting: Natural light, ring lights, LED lights, etc. to look your best as you go live
- Accessories: Microphone stands, tripods for cameras, headphones, additional cameras, green screens, cables, boom arms, etc. to create high-quality live streams
Pick and choose what you need from the basics mentioned above (or extend as you need to), depending on your preferred live streaming setup, budget, use case, etc.
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