PRESS RELEASE
Livepeer Studio cuts the cost of live streaming & transcoding by up to 80% to enhance profitability of video businesses
Transformational solution makes high-quality streaming affordable and scalable by eliminating the cost barriers imposed by major cloud providers
New York, NY, May 8, 2024 — Livepeer Studio unveils a revolutionary video streaming platform offering an unprecedented combination of quality and cost-efficiency to content creators, media and entertainment brands, enterprises, houses of worship, and a broader range of sports companies. Livepeer Studio enables providers to step away from using traditional cloud giants and tap into a decentralized network architecture, driving down video transcoding and delivery fees by up to 80 percent.
Content creators and media businesses have traditionally required the support of cloud providers like Amazon Web Services (AWS), Google or Microsoft and content delivery networks (CDN) like Akamai, Cloudflare and Edgio to stream live video to global audiences across multiple devices. However, this results in high costs, making it difficult for innovative streaming companies to experiment and scale their operations while also achieving profitability.
Livepeer Studio enables content providers to take advantage of a secure, decentralized blockchain marketplace for transcoding and distributing live video, reducing costs and thereby democratizing access to high-quality streaming. This means that growing video businesses can cost-effectively build and scale innovative new streaming products at significantly lower financial risk. Meanwhile, established streaming companies that want to experiment with new engagement strategies, user-generated content, or gaming services can trial and launch offerings on the fly without incurring heavy video delivery costs.
Livepeer Studio is built on the robust foundation of the Livepeer Network, a unique, globally available open video infrastructure. The Livepeer Network incorporates thousands of participants who contribute computing resources toward transcoding and distributing video, ensuring high reliability and low latency delivery while reducing the total cost for content providers.
“Emerging content creators, sports organizations and entertainment brands need more cost-effective tools to make live streaming profitable,” said Eric Tang, Founder of Livepeer Studio. “Livepeer Studio makes high-quality streaming accessible to all, breaking down cost barriers and helping innovators build and scale their streaming communities, hassle-free. Take live social streaming platform SankoTV for example: we’ve helped it save 80% in video costs by moving away from AWS’ Amazon Interactive Video Service. Anytime that core costs reduce this significantly it always powers a huge wave of innovation and exploration — we’re excited to underpin a new era in audience engagement and interactive streaming.”
Live reality TV company Fishtank reduced its streaming costs by approximately 50% by migrating its video infrastructure away from Cloudflare to Livepeer Studio. “Moving our 24/7 live reality show and interactive streaming platform to Livepeer Studio made sense because of the improved quality, cost, support and developer tools with open source software. We look forward to building more together,” said Bill Ottman of live reality TV company Fishtank. "Livepeer Studio enabled us to slash our video streaming costs by a half and launch in just two weeks — all while delivering the ultra-low latency, high-quality live streaming our show depends on, powering audience interactivity and driving new revenue streams."
“We needed to replace our legacy streaming infrastructure to unlock growth and better serve our diverse customer base across the sports, media, education, and public sectors,” said Rudy J. Ellis, CEO of live stream management platform Switchboard Live. “Livepeer Studio provided us a more cost-effective, reliable and scalable alternative than other options — with a rapid launch time and simple migration that allowed us to focus resources on our core business priorities.”
Since the foundation of the Livepeer project in 2016, it has generated funding of $51.2M across four investment rounds while helping developers around the world to easily and cost-efficiently build and deliver live and on-demand video applications. Livepeer Studio launched in 2023 as a specialized streaming solution for content owners and media and entertainment brands, supporting a diverse range of innovative social streaming, reality entertainment, live music streaming, gaming, and enterprise video platforms, including Fishtank LIVE, Minds, Switchboard, The Lot Radio, and MyPrize.
Supporting both WebRTC and HLS protocols within a single workflow, Livepeer Studio guarantees low-latency live streaming and real-time delivery, enables dynamic experiences, in-stream audience interaction, and supports advanced viewer engagement and performance analytics. Livepeer Studio’s intelligent transcoding capabilities scale to evolving requirements and optimize costs by adapting to viewer demand, while partner integration with distributed cloud storage provider Storj ensures secure and highly cost-efficient media storage.
The Livepeer project is now an official member of the Coalition for Content Provenance and Authenticity (C2PA) to ensure secure and transparent media provenance, and showcased the standard’s first real-world demo within a video supply chain alongside ATEME at NAB Show 2024. Through user-friendly, streamlined workflows and rapid integration time, content creators can accelerate their time-to-market, reduce operational costs, and focus resources on content creation and marketing to drive audience engagement and revenues.
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About Livepeer Studio
Livepeer Studio is at the forefront of next-generation video streaming, leveraging decentralized blockchain technology to significantly reduce the cost of developing and delivering high-quality streaming video. Built upon the robust foundation of the Livepeer Network, Livepeer Studio harnesses a unique, globally available infrastructure to deliver unparalleled video streaming quality and efficiency.
With an API-first, open-source platform, Livepeer Studio empowers content creators, media and entertainment, sports and enterprise companies to easily and cost-effectively explore the full potential of video streaming, making high-quality streaming accessible to all. Embrace the future with Livepeer Studio, where advanced technology and operational efficiency converge to redefine video streaming.
For more information, visit www.livepeer.studio
To learn more about the Livepeer Network, visit https://livepeer.org
Media contacts
Nick Field / Molly Cole
Platform Communications
+44(0)203 832 3690
