Chinese-drone manufacturer SZ DJI Technology Co., Ltd. has come a long way since it released their first ready-to-fly drone, the Phantom, in January 2013.

The company, best known as DJI, on Wednesday announced the Phantom 3, a drone that integrates with YouTube Live to stream aerial footage in near real time. It comes in two variations, the Phantom 3 Professional ($1,259) and Phantom 3 Advanced ($999).

The Phantom 3 model is a huge leap for drone technology, nearly matching the $2,899 Inspire 1 drone that DJI announced in 2014 in terms of technical specifications, but closer matching its predecessor, the $1,099 Phantom 2 Vision+ in cost and aesthetic.

The difference between the Professional and Advanced model lies in the video quality; the Phantom 3 Professional is capable of shooting 4K video at up to 30 frames per second, while the Phantom 3 Advanced records at 1080p at 60 frames per second.

Both models integrate with the DJI Pilot app, which comes with a flight simulator for operators to virtually practice flying and a “Director” feature, which automatically edits shots from flights into short videos that can be shared instantly.

The company is largely referred to as the “Apple” of drones, with competitors making up a small percentage of consumer-level drones sold. Similar to its competitors, the new three-pound DJI drone has 23 minutes of flight time and can fly at a maximum altitude of 6,000 meters above sea level.

DJI’s competitors include Parrot SA, a public European company that manufacturers the Parrot AR Drone. It reported revenue on its drone segment was about $45 million dollars in 2013. California-based 3D Robotics Inc. this year announced a $50 million funding round.

Controllers for the Phantom 3 come paired with DJI's Lightbridge technology, which allows pilots to see what the Phantom 3 camera sees in HD at a distance up to one mile. DJI

DJI was founded by Frank Wang in 2006, when he was a graduate student at Hong Kong University of Science and Technology, according to a Wall Street Journal report. He skipped classes in order to devote time to developing a stabilization system that made drones easier to fly, according to the report. Since its early days, when it operated out of a dorm room, the company has grown to generate a revenue of $131 million in 2013 and said 2014 revenue would be three to five times higher, according to the South China Morning Post. DJI is on pace to do $1 billion in sales this year, according to the Verge.

The DJI Phantom line largely appeals to hobby photographers, but professionals are using them as the technology improves. DJI’s other products, including frames and autopilots, have been used for Hollywood films.

But drones are used for more than just aerial photography. They’ve helped find lost people in search-and-rescue missions, herd sheep, serve food in restaurants, and even are used as flying billboards.

“Pilots, whether they are journalists, extreme athletes, or global travellers - will not just be able to share aerial videos of where they were, but will also be able to send a YouTube link to their friends and colleagues to show them the aerial perspectives of where they are right now,” said Eric Cheng, DJI’s San Francisco general manager. “That has tremendous potential for changing the way we share experiences with one another.”