It has become a trend to use study with me (SWM) Livestream to create a personalized study ambiance. However, we still have little understanding of the activities of SWM livestream and the streamer's motivation to produce SWM livestream. This paper provides an overview of the activities and how streamers regulate these activities of SWM livestream on a Chinese popular User Generated Content(UGC) website, Bilibili. We observed the number and popularity of the SWM livestreams and analyzed 800 livestreams to understand the streamers' study goals. We analyzed 20 SWM livestreams in detail and interviewed 12 streamers and 10 viewers to understand the activities and the streamer's motivation. We found that streamers produced SWM livestream to seek supervision, find like-minded study partners and help and company others. Streamers don't interact or instruct with the viewers directly but use chat-bot and autonomous interaction to alleviated the interaction burden. Unique sessions like checking-in and study progress reporting promote the viewers' social presence, promoting SOC, and enhancing their engagement. Strict rules and punishment are widely used to concentrate the members on study and contribute to positive atmosphere. We also found that SWM livestream often disappears when the examination is done and the streamer faces doubts on motivation and appearance. These findings suggest that SRL community can provide cognitive and socioemotional support for lonely learners to stick to a long-term study. The activities and streamer's practice inspired how streamers can focus on contemplative efforts while controlling the interaction.