I thought i'd set up a guide on how to set up your DAW to stream/Record video.
Streaming
First you need to see if you can ACTUALLY stream.
As I can only go off my computer, I recommend you have have a mid-range I5/AMD equivalent, a mid-tier graphics card/ onboard graphics and around 6-8gb RAM.
Lets not forget that not only are you using resources for your OS, DAW and running the streaming software you're capturing that and broadcasting across to server. Its quite intense on your machine!
If you want to stream at 720p/1080p you will also need a good, stable connection.
Recommended is at least 3mb/s upload, as 2000kb/s (around 2mb/s) is pretty optimal and you'd like to have above that so you are not using up all your upload bandwidth.
I would 100% recommend that you have 2 screens, this will be very complicated otherwise.
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Software :
I use OpenBroadcastSoftware, it is 100% for Mac and Windows, Linux build is in the making.
https://obsproject.com/
Please note: The OS-X version is in early development but should be able to do the job for what we're using it for!
I WILL FIND A OS-X FREE CLIENT WHAT IS FULLY FEATURED.
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Service :
There are 2 'real' choices but 3 overall, that I can think of.
TwitchTV : Twitch is catered towards gaming culture, you may find yourself getting banned if you cannot bullshit a little and say you're a game music composer.
Twitch has the option to become "partnered" like youtube and people can subscribe to you for a set price, it does have the potential to become your full time job but you will obviously have to establish yourself first.
100% free stream on, the only catch is that you can't use over 128kb/s audio quality.
JustinTV : Exactly the same as Twitch, it is their sister site but it is for all types of streams; you won't have to bullshit here BUT the viewer base isn't as high - I stream here just because i've had an account since like 2009.
Ustream : Expect your audience to get an advert every 15-20 minutes if you don't pay for their 'pro' package. I don't even think it allows to stream past 480p. Its bad, real bad.
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Setting up
Please note : OBS on OS-X might be different but if someone provides my screen shots of things they're confused about I am sure I can help.
Once you have an account on Twitch/Justin you will find in your dashboard settings a 'stream key'
This is essentially a code what tells the server "Legend4ry is connecting, turn that stream online"
DON'T GIVE THIS TO ANYONE.
Once you have OBS installed go settings > settings.
Here is my encoding settings - you won't have to adjust much apart from Max BItrate depending on your connection, I get 10mb/s upload, but I keep it at 2.5mb/s to make sure I don't lose frames (tiny dips in the encoding the server what will make things stutter).

Broadcast settings :
This is all self explanatory, add your stream key, pick your service, pick the server nearest to you.
Enable save to file, this will record a local copy of your stream to easy uploading to youtube.

Video :
Pick the resolution your want and FPS, I recommend 25-30.
Audio :
This is where it will get a little complicated.
You want your microphone/auxilary to be your DAW output - not your microphone, you will have to run your microphone via your DAW unfortunately.
If you can't get your DAW output because you're using ASIO, after years of searching the only software I can find what enables this is this : http://midithru.net/Home/AsioLink and it costs money. I looked, I couldn't find a version to pirate to even test out!
Advanced :
I have this at default, mess with it if you know what it means - I don't really.
Setting up your capturing :
Right click scene > Add scene.
Right click sources and add a window capture : when your DAW is loaded it will become available in the drop down menu.
You will have to keep your DAW within screen for it to capture - 2 screens is IDEAL as stated above.
If you would like webcam added. Add a source as Video Capture Device and your camera will be there.
- Now you're all ready, hit start streaming and start recording!
Video recording
Exactly the same as above but just don't create an account on twitch/justin and in your broadcast settings, change the mode to File Output Only!