Introduction
There are many options available to people looking to make money in the live streaming business, including starting your platform, locating a streaming sponsor, and signing up for a streaming affiliate program.
It can be very interesting, and it’s even better if you can make money doing it. You can make money live to broadcast, and streaming services and apps can assist you to do it.
If you don’t already have a large social media following, you can start streaming on these networks. But you won’t make a lot of money immediately from streaming.
As a source of income, your streaming channel must be gradually built up. You need to persevere, remain consistent, play frequently, and communicate with fans in a sincere manner.
Live streaming – a marketing tool
This expansion is being driven by an unprecedented demand for live video content. Consider:
- 63% of persons between the ages of 18 and 34 routinely view live streaming content (Source: Statista).
- Compared to video on demand, live programming garners 27% more minutes of watch time each viewing (Source: Conviva).
- Compared to on-demand material, people watch live videos for 10 to 20 times longer (Source: Forrester).
- By 2023, marketers anticipate spending more than $100 billion on video content, according to a Forrester survey from 2021.
It Is worthwhile to incorporate live streaming into your marketing strategy. Take a look at these Livestream statistics:
- A live stream is preferred over reading a social media post by 82% of consumers while live videos are preferred over blogs by 80% of customers.
- 67% of viewers who viewed a live stream bought tickets.
- A favorite team, speaker, or performer’s live, exclusive, the on-demand film would be purchased by 45% of live video viewers.
6 popular live streaming tools
YouTube Live
The live streaming feature on YouTube called YouTube Live enables content producers to communicate with viewers in real-time via video and chat.
Your live streams can be seen on the customized YouTube feeds of your audience when you go live. It depends on whether they have subscribed to your channel, viewed or enjoyed your content in the past, or engaged with related content.
You may make money from this platform in a number of ways:
- Ads
- Super Chat
- Super Stickers
- Memberships
Twitch
In the past, Twitch was a website for gamers to watch live streaming. But today, a lot of musicians, dancers, comedians, and other great people are also active on this platform. Currently, Twitch is the world’s biggest live streaming service.
There are several ways to monetize your content on this streaming network which include pay-per-view subscriptions, emotes, bits, sponsorships, and other things.
You can immediately start making money with your viewers’ “Bits” without becoming a Twitch Partner. You can cash out when you have collected $100 in bits.
Facebook live
Facebook enables broadcasters to stream live videos of any content, including conversations, promotional events, Q&As, and other types of content. Using the Facebook app, technology enables live streaming from anywhere in the world.
A contribute button and in-stream advertisements can be added to the live broadcast in order to monetize Facebook Live and collect money for a good cause. You enable Facebook’s fundraising and revenue-generating services, be sure to fulfill the eligibility requirements.
TikTok live
On TikTok, a feature called LIVE enables producers to interact in real-time with their audience. Additionally, it gives creators older than 16 with more than 1,000 followers and more than 100,000 video views in the last 30 days the opportunity to receive virtual presents from their largest TikTok admirers that can be converted into real money.
You won’t be able to withdraw the money until you’ve earned at least $100 in your TikTok balance due to the platform’s minimum payout requirement of $100.
Amazon live
Amazon Live is a live streaming website where you may see videos of goods that are available on Amazon.com. On Amazon Live, streams can be made and hosted by Amazon Influencers. They can give product demonstrations, respond to queries, disseminate discount codes, and make commissions. The Amazon website and mobile app offer access to Amazon Live.
Customers have the chance to click and purchase products while watching your videos. For each eligible purchase of a product that is part of your live stream, you will receive commissions.
Bigo Live
Users can share live moments with their followers on this popular live-streaming site.
If you use the app to its full potential and effectively display your abilities, making money from it can be extremely simple. So consider your strengths and how you may leverage them to attract followers. Think big and make an effort to stand out. The audience can then send you rewards in the form of stickers if they enjoy your content. You can cash these rewards. Depending on your followers and content, you can make between $5,000 to $10,000 on average.
Conclusion
You can try them out and earn money live streaming if you want to do all that is specified! Try out a few of the platforms to see which one will work best for you, and then stick with it.
Please remember that the primary obstacle to making money from live streaming, regardless of the live streaming apps you select, is developing a fan base. As you can see, many of the live streaming services on this list need a sizable following and number of viewers before even considering you for their service, let alone allowing you to make money from adverts and other means of monetization.
