Can I downgrade Wowza Instance?

If you change the type of an EC2 instance the information is not lost (except for the instance store-backed instances), so your application should be working as usual.

To be sure that you can do the change follow the next steps:

• First, check the compatibility of your instance type with the new type that you want to have: Compatibility for changing the instance type.
• Then, check the Considerations for compatible instance types list.

To do the instance type change follow the next steps:

1. Shutdown the instance (make sure the shutdown behavior is not set to terminate).
2. Change the instance type and
3. Start the instance again.

For detailed information about changing the instance type, have a look at the Change the instance type documentation.

Regarding the pricing, when you change the instance type, you'll start paying the rate of the new instance type. For the on-demand rates of all instance types, see Amazon EC2 On-Demand Pricing. So if your new instance is less expensive you will reduce your final cost.

I recommend you to have a look at the Get recommendations for an instance type for having a better insight of the better instance type to use for your workload.