Niche streaming services can find a way to survive amid ever-expanding competition, but they need to be smart about it, a panel of industry analysts said this week. It won’t be easy, but maybe even more challenging for the biggest streaming companies.

Building a sustainable streaming-video company is a complicated business. Four executives from Vizio, Chicken Soup for the Soul Entertainment, Amagi, and TelevisaUnivisiion talked best practices and lessons learned as part of a recent event designed to help Latin American startups navigate the challenges of the streaming video industry. Among other tips: take care of your distribution partners, and get clear on which data matters to your business, especially for targeting ads and program suggestions.