The Daily Video Component System (VCS) is a developer toolkit that enables the creation of dynamic recordings and multi-participant live streams. It allows software developers to build high-quality streaming experiences with features such as dynamic graphics overlays, programmable layouts, and video rounded corners and outlines. VCS encompasses both a set of baseline compositions and an open-source SDK, which can be customized even more. The system is designed for a collaborative world where people may join or leave and their production roles may change during a live stream. It provides cloud-native architecture for video recording and streaming, allowing developers to execute compositions and graphics on Daily's cloud servers or directly within client apps. VCS enables the creation of dynamic text overlays, animated graphics, programmable layouts, and more, with options to create custom branding, titles, animated reactions, novel visual layouts, and so on. The system is designed to be scalable, allowing for seamless scaling up whether the stream has one active participant or hundreds. It also provides universal rendering capabilities, enabling true distributed production tools where multiple roles can come together to produce a stream, and where multiple types of viewers require their own variant of the same rendering.