The present invention relates to a cloud-based video production system and corresponding methods that deliver real time or near real time video with broadcast quality. Video from the same source is encoded into at least two separate streams, one with low latency and another with higher latency and higher quality. Corresponding frames of each stream have identical timestamps. The two streams are sent over separate signal paths. A first signal path is a real time control (RTC) path having low latency, and used to communicate the lower quality video content from video sources to a producer user interface. The second signal path provides the same video content at a higher video quality than that provided over the first signal path, but with longer latency. Commands from the user interface based on the lower latency stream can then be carried out on the higher latency stream.