Image hosting sites can be fairly low cost in maintenance and running compared to say a file hosting script although i'm not sure on the exact numbers i'm afraid. The main initial cost will be the development of the site or purchase of the script. The development of a custom image hosting script can cost quite a large amount depending on your requirements. We developed Reservo during an 8 month period but it was built on the framework of a file hosting script that we also developed.
Video sharing (streaming) niche is more attractive because its content - Movies, TV series, etc (they are very popular). However, effort spent on servers, software and support cost (DMCA problems, etc) are higher than in file sharing and image sharing Check our XVideosharing (XVideoSharing - video sharing script) solution, you might be interested.
If you want to create an image host website you don't need so much resources. It is ok for start if you have a server for main site(including sql) and an external server for hosting images that doesn't a lot of bandwidth and resources.
For Streaming website, you need one server for main site(and sql) and anothers for streaming. Personally i think that the main problem will be the bandwidth because you will need to support multiple users downloads. If you want to share hq (720p-1080p) movies you will need for start up website, at least 1 gbps dedicated bandwidth and some good resources for the servers where you will host files.
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