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Broadcasting software is optional and allows you to stream your content on Youtube and Twitch with a lot more controls than a regular webcam. For example:
You can show your desktop i.e. your browser, applications, slides etc
Allows you to run a live multi-presenter webinar
You can add graphics like your name and webinar title, show a recorded video from your computer and then be live, then show another recorded video, be fancy like the TV Hosts!
You will find a lot of streaming encoder, but we really liked the following ones. We have included affiliate links below but they in no way influence our recommendations:
Ecamm (MAC only)
OBS Studio (for both MAC & Windows, it is free)
Manycam (for both MAX and Windows, minor cost)
XSplit Broadcaster (Windows only)