This project combines some open source projects and commercial plugins that can be downloaded and used in trial mode to start a social live streaming site. This project can be setup for free if compatible hosting is available.
Site pages and member management is based on WordPress & BuddyPress and live streaming on VideoWhisper.
All groups have a Live Stream tab where users can watch live video and chat realtime. Admins can broadcast anytime from Admin > Live Streaming.
Also groups have a Video Conference tab to the group, where users can video chat realtime in group room.
A Level 2 VideoWhisper license to remove all ads and limitations from chat plugins. [$350 or $35/month]
(Optional, as you can use VideoWhisper software in free mode with some limitations and ads.)
Total cost to start would be under $100 0r $450 (full mode) .
Or if paid monthly that would be under $90/month including full mode license, hosting, domain.
An you should be ready.
Then it’s up to you: other customizations, like a cool custom template, monetization features like ads or paid membership to allow more quality advanced rooms.
Update: Most advanced integration plugins are available for the popular WordPress framework. That includes Video Conference, Video Presentation, Video Posts and Comments, Private Videochat, Pay Per Minute Videochat Shows.