The invention discloses a live broadcast room picture-in-picture playing method, a storage medium, electronic equipment and a system, and relates to the technical field of live broadcast room video playing, and the method comprises the following steps: creating a MediaPlayer manager; acquiring a live video data stream address, creating a MediaPlayer to load a live video data stream for analysis, and initializing an Activity component; creating a first Surface window; when picture-in-picture playing is started, closing the first Surface window, creating a second Surface window, and using the second Surface window for displaying live video data in a picture-in-picture mode; and when the picture-in-picture playing operation is stopped, closing the second Surface window, recreating the first Surface window, and displaying the live video data. According to the invention, the video playing and the video display of the live video are independent, when the live video playing needs picture-in-picture playing, the playing fluency during picture-in-picture playing can be ensured, and a guarantee is provided for the video watching of a user.