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Livepeer Studio uses blockchain to offer ‘affordable’ streaming

Livepeer says that by stepping away from relying on traditional cloud giants and tapping into a decentralised network architecture, it drives down video streaming costs by up to 80%

Livepeer Studio has unveiled a video streaming platform that could make high-quality live streaming more affordable for AV installations, for example in corporate environments houses of worship, and live events. Livepeer says that by stepping away from relying on traditional cloud giants and tapping into a decentralised network architecture, it drives down video transcoding and delivery fees by up to 80%.

Livepeer Studio says its platform enables content providers to take advantage of a secure, decentralised blockchain marketplace for transcoding and distributing live video, reducing costs and “democratising access to high-quality streaming”.

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  streaming companies to experiment and scale their operations.

Livepeer Studio is built on Livepeer Network, a globally available open video infrastructure, which incorporates thousands of participants who contribute computing resources toward transcoding and distributing video, reducing the total cost for content providers.

“Emerging content creators, sports organisations 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.”

The company says live reality TV company Fishtank reduced its streaming costs by approximately 50% by migrating its video infrastructure away from Cloudflare to Livepeer Studio.

Bill Ottman co-founder, Fishtank, said: “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.”

Since the foundation of the Livepeer project in 2016, it has generated funding of $51.2M across four investment rounds. Livepeer Studio launched in 2023 as a specialised 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.