8 Best Streaming Software for 2023 [Free and Paid]

Live streaming took the entertainment industry by storm. As we speak, there are already 8.55 million active Twitch streamers globally, as shown in Statista’s report. For comparison, there were only 3.8 million streamers in February 2020. With this, the demand for the best streaming software is quickly picking up!

But what can these software do anyway? Simple. They’re what you use to broadcast video-on-demand content. It’s a lot like airing a television program, but in this setup, you don’t need to rely on broadcasting schedules and commercial spots. 

The program works as an encoder of video inputs and distributes them digitally to online streaming platforms like Twitch, YouTube, Facebook, etc. It also lets you add several production elements to your broadcasts such as overlays, graphics, transitions, and more!

How to Choose the Best Streaming Software?

As a streamer, you want to put on a great show and deliver a smooth viewing experience for your audience. 

So here’s what you should consider in choosing the best live streaming service: 

Use Cases

What type of content are you live streaming? 

If it’s to showcase your gaming skills, then a game streaming software like Xsplit Broadcaster, Wirecast, OBS Studio, and Twitch Studio has the best interface to support that.

If you’re a social media marketer aiming to drive business growth with your live content, we suggest using Streamlabs OBS and Lightstream creator studios.

Large-scale productions such as events, variety shows, sports, and conferences are best done in vMix.

And for personal use, go for Onestream. It has a pre-recorded streaming feature, so it’s best used for lifestyle vlogs or home videos.

Platform

Where do you want your audiences tuned in?

Each program is optimized for a certain platform, but all 8 solutions on our list can qualify as the best Twitch streaming software.

But if you’re specifically looking for a Facebook Live streaming software, Wirecast is the top candidate. It has its own Facebook integration facility.

Streamlabs OBS is the best YouTube streaming software because it has more templates and live chat widgets. You can even set up your own merch store, which is great for content creators and influencers.

And if you want all major platforms and more, Onestream, XSplit, Wirecast, and OBS Studio have the best multi-streaming features and performance.

Input Capacity

Are you a live streamer who likes to combine multiple video inputs? Then your streaming software should be able to capture multiple sources such as webcams, mics, capture cards, videos, webpages, applications, and more! Wirecast can capture any type of video input, with unlimited sources. XSplit and OBS Studio are a close second.

System Requirements

This can easily spell the difference between which program is good, and which program works for you. 

Each software here requires at least 4GB RAM and an Intel i5 processor. This will guarantee that your computer won’t act up even with multiple video sources. Yes to smooth streaming!

If you’re a basic Windows user, you might want to go with XSplit Broadcaster and Streamlabs OBS.

On the other hand, the best streaming software for Mac is OBS Studio, but you’ll need an Intel processor instead of PowerPC.

Alternatively, you can go for web-based programs such as Onestream or Lightstream. You can use these software regardless of what device you’re using.

Bandwidth Speed 

Lags and delays are a streamer’s worst enemy. Viewers don’t want that, and they’ll quickly log off if they see you have poor connection. Luckily all streaming programs on this list have their own bandwidth detection features. But for special mentions, XSplit Broadcaster, Wirecast, OBS, vMix, and Lightstream can scale your stream bitrate to avoid connectivity issues.

Integrations

If you’re aiming at getting the best live streaming service with the use of third-party plugins and integrations, XSplit Broadcaster and OBS Studio have the best offerings of this bunch. OBS in particular has loads of free downloadable plugins since it’s an open-source program.

Pricing

And lastly – do you plan to invest in video streaming software?

If not, all of the programs we mentioned have a free version, except for vMix and Lightstream. 

The more budget-friendly options would be XSplit Broadcaster and Onestream.

Wirecast and vMix are quite the investment, as they are the more high-end software.