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How to start a webcasting business?

I want to start a webcasting business where I record live events of listed and private companies. I need few advice regarding the pricing and the business model.

1. What kind of setup is needed?
2. What to charge?
3. Total costs involved?
4. What kind of business model is ideal?
5. And lastly do I need to hire a firm or someone who can bring in leads or business for me?

8 Replies

Stephen Campbell, PMP
2
0
Project Management Professional
You need a consultant lol! Stephen
Elizabeth Corbin
1
0
Elizabeth Corbin Entrepreneur
PhD Student at University College London
Hello! I'm in Shenzhen, China for the annual FabLab conference, Fab12, until August 15th with *very* intermittent access to email and internet. I'll get back to you ASAP on my return. Many Thanks, Liz
Brendon Whateley
1
0
Founder at Kugadi
Yes, that is exactly what you need to work out before proceeding.
Glenn McCreedy
0
0
Glenn McCreedy Advisor
Co-founder of Eleven
What is the problem you are trying to solve? If you have identified a major pain for which you can provide the necessary "morphine" as a solution, you're already a long way down the road.
Elizabeth Corbin
0
1
Elizabeth Corbin Entrepreneur
PhD Student at University College London
Hello! I'm in Shenzhen, China for the annual FabLab conference, Fab12, until August 15th with *very* intermittent access to email and internet. I'll get back to you ASAP on my return. Many Thanks, Liz
Bob Snyder
0
0
Bob Snyder Advisor
Editor-in-Chief, Channel Media Europe
Hi, I write a newsletter for pro AV companies that engage in this business.

1. What kind of setup is needed?

There is an industry out there making it easier but the separate components are:
  • recording appliance
  • recording software
  • video camera (HD and with zoom) and camera tripod
  • audio: microphone (for small events, can be built-in video camera)
  • networks switch (could be built in the recording appliance)
  • cables (very important)
  • qualified person to run it (even more important)
  • stable internet connection with good bandwidth (if you are live, careful before trusting a venue--and remember if it is an event, after you test the connection you will find it different with 200 guests hitting the wifi for their smartphones)
  • might also need a video-ready network to ensure delivery (CDN) if you are playing in the big leagues
Suggest you look at this just to get idea:http://www.e-idsolutions.com/Collateral/Documents/English-US/IDS-Webcast-pkc-030310-01.pdf

But bear in mind, if you are working for enterprises you may run into issues of scaling larger (more cameras,more people for example.) Best way to get your answers is to contact the people that make the kit who need to explain it to you in order to sell it.

2. What to charge?
You charge what the market can bear. You check out what competition is charging in your area (o as close to your region as possible). You consider the size of company. Also recognizethedifference between live streaming and on-demand (commercailly as well astechnically).

3. Total costs involved?
Probably about $10,000 in kit if you are starting with size of compnay where only one camera involved. You could also spend a lot more and get more robust & better relaibility.

4. What kind of business model is ideal?
A profitable one. But most common is flat fee with overtime if meeting runs longer than expected (and monthly fee if you are providing the video on your network or CDN for on-demand for as long as they want it available).

5. And lastly do I need to hire a firm or someone who can bring in leads or business for me?
It sounds like you just want to own and finance such a business. There are plenty of Audio Video experts you can hire to run such a business: they can manage the technical and solicit customers. But if you are asking if the customers will beat a path to your door...no, never.

You might find customers by aligning with the PR companies that handle stock-market listed compnaies.

This is not as simple a business as it appears...but there are a lot of companies trying to make it simpler and you can find most of them-- and all your answers-- at an event like InfoComm (you have one in Bombay Sept 12-14).

Companies involved in webcasting often go into video conferencing, digital signage, rich media streaming as related businesses.
Bob

Paul Garcia
0
0
Paul Garcia Advisor
President at TABLE
Before you worry about what you want, you need to evaluate whether it's even a business in which you can succeed. What will make you different, not better, different? Nobody switches to buy -er, they only switch to buy most/best. If you aren't pursuing a market segment that doesn't already have a provider of this service, you will definitely need to be first/best/most in the way you do yours.

Rather than starting with reading "Webcasting for Dummies" advice, start with advancing the six basic business skills you will need for ANY business. 1) marketing, 2) sales, 3) organization, 4) people, 5) efficiency, 6) leadership. Learn from and research every competitor you can find. Determine how you will provide personal benefit to your clients, what makes you dramatically different, and why should your clients believe in you? These are the business essentials that will apply to any business you choose to start.

Before you launch is when you have unlimited time to plan and get things right. There is no substitute for good planning. If you say you don't have time to start right, you will never find the time (or money) to fix it later. You are not anywhere near ready for FD if you haven't already researched the questions you asked above.
Rishu basin
0
1
Rishu basin Entrepreneur
DestroyUber.com - CEO
I met up with a client who was looking to take his live stream biz big. What he does is shows up to kids,let's say soccer games and then puts 2 cameras that stream the whole game. He charged around 400 to 500 for the 2 to 3 hrs he is there. He also charges parents of the players $10 to watch the live stream and if they get the live stream then they can also watch the saved stream/streams.
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