NewTek currently offers five models in their TriCaster family, the standard-definition TriCaster 100, TriCaster PRO, TriCaster STUDIO and TriCaster BROADCAST plus the high-definition TCXD300. Former TriCaster models include the standard-definition TriCaster DUO and TriCaster PRO FX. NewTek announced the high-definition TCXD850 at NAB in April, 2010 and expects to ship that model in July, 2010.

TriCasters can be categorized by the number of external video inputs they work with, whether they offer virtual sets and whether they work with standard-definition only or work with both standard-def and high-definition external video sources.

The current TriCaster 100 and TCXD300 plus the former TriCaster DUO and TriCaster PRO FX work with up to three external video sources (video cameras, VCRs, DVD and blu-ray players, etc.) The STUDIO and BROADCAST work with up to six external video sources. And the TCXD850 will work with up to eight external video sources.

The TriCaster PRO, STUDIO, BROADCAST, TCXD300, TCXD850 and the former PRO FX provide virtual sets for inserting chroma-keyed talent into 3D sets. All TriCasters provide chroma-keying.

The TriCaster 100 (the original TriCaster model), DUO, PRO, PRO FX, STUDIO and BROADCAST work with standard-definition video sources including 4:3 and 16:9 support. The TXCD300 and future TCXD850 work with both standard-definition and high-definition video including 1080i, 720p and 480i sources.

All TriCasters are first and foremost video switchers. This means you can connect multiple live video cameras (and other video sources) to a TriCaster and switch between each live source. This allows you to change the viewpoint in real-time (wide-shot to close-up, etc. Additionally, the TriCaster can playback video clips from its internal hard-drive to add an opening, closing, news or interview segment, commercial playback, etc. And you can add titles or overlays and full-screen graphics at the same time, allowing you to display a lower-third overlay or display a person's name while they are on camera.

While you are dissolving from one camera to another and adding an overlay, you can also record the live production to the TriCaster's hard drive and also stream to the internet at the same time. Using the TriCaster's various video output connectors plus the rear display port you can display the live output to large video monitors or projectors. You can even burn a DVD or blu-ray in real-time while switching using an external recorder and the TriCaster's various video and audio outputs.