Live streaming services like Facebook Live or Periscope allow their users to broadcast whatever and whenever they want on social media. This recently developed type of real-time broadcasting evokes a number of ethical concerns ranging from privacy, surveillance to intellectual property issues. Yet, despite its growing importance in contemporary society, there has been limited research on the ethical dimensions of live streaming. To close this gap, this study seeks to address the research question: What ethical aspects have to be considered for live streaming? To be able to derive holistic ethical norms, which are not limited to specific agents or contexts, this paper presents the design for an Online Delphi study with international experts from seven different fields: ethics, politics, law, journalism, software engineering, platform operators and users. The exploratory stage of the Delphi study has been conducted including the development of the questionnaire and the recruitment of experts. The collection and analysis of ethical norms related to live streaming do not only allow the development of a Code of Ethics and an ethical theory but can also serve as a guideline for the design and improvement of live streaming services by Information Systems experts.