Live streaming platforms are entertaining and thrilling, and if you can make money from them, that’s even better!
People can choose from various genres of streams, including video games, reaction videos, and much more.
However, you won’t be able to make money from live streaming right away. You must gradually build up your audience before you can consider your streaming channel to be an income source.
We have compiled a list of the most frequent, hassle-free ways to earn money via live streaming, coupled with a few unconventional alternatives.
Let’s dive in.
Which is The Best Live Streaming Platform to Make Money
Let’s look at the best live streaming app on which you can earn money.
Twitch, boasting 20 million daily users, is the world’s largest video game live streaming service. Therefore, it is the preferred choice for reaching a vast audience, which should be your ultimate objective if you want to earn money from streaming.
With such a big creative community, it might be difficult for newcomers to stand out. But with a unique perspective and a consistent mindset, it is not tough to succeed.
Twitch offers a range of monetizable performance options. Streamers build a career by earning cash and commissions through advertising, affiliate links, contributions, memberships, Associates Programs, and other sources.
The days of simply being able to broadcast a pre-recorded video on the YouTube app are long gone. All of that has evolved to the extent where you can live stream and handsomely get paid for it.
Because YouTube is a haven for unique media content, it is the ideal place to monetize your content. However, keep in mind that you need to have atleast a subscriber base of 1000+ and a watch time of 4500 hours before you can apply for monetization using Youtube Adsense.
Bigo is a Singaporean live streaming app that gives excellent opportunities to live streamers. It is simple to build a loyal following while simultaneously generating money.
The best thing is that Bigo rewards you per view, so the more people that see it, the more money you make on your live streams.
IBM Cloud Video
IBM Cloud is a terrific alternative for anyone looking to replace conventional live-streaming apps. Anyone who wants to generate revenue can monetize their channel and start live video streaming.
Advertisements are available in the main accounts, but you can unlock all the professional capabilities and start making money streaming if you purchase the premium plan.
It’s a terrific place to work because of the streaming possibilities for corporations and the video management for OTT.
Panopto works primarily with businesses and academic institutions in mind. It makes live seminars and corporate events go smoothly.
The panopto application is notable for its ability to preserve video recordings while in use, which you can then view afterward. This tool is ideal for teachers since it allows them to repeat a previously recorded video after each live session.
The live customer service is available and will assist you whenever needed. In addition, you can purchase a premium membership for swifter assistance. However, you should note that this platform is not free.
You may combine many third-party software applications to provide a unique and spectacular live streaming experience.
Vimeo also helps you post high-quality content on your preferred social media without compromising on the look or feel of it.
The videos are stored on their cloud servers, providing you with additional room to work within the privacy and the ability to post live stream films from wherever you want.
Because of its versatility, Facebook is, without a doubt, the most popular social networking app on the planet. It has recently added a section for gamers called Facebook gaming.
However, getting started with making money on Facebook could be tricky. You need to monetize your account before you can start making a profit from Facebook.
The only downside is that Facebook will only allow you to run in-stream ads if you follow their partner monetization agreement and other conditions.
Ways to Make Money on Live streaming Platforms
Now that we have gone through the best live streaming apps, let’s look at a few methods using which you can start earning money.
Start Paid Subscriptions for Your Channel
Getting a gratuity from your audience is nice, but getting paid regularly is much better. These payouts are generally worth a few dollars, but they mount up if you get the correct amount.
To allow this type of support, you usually need to satisfy specific standards, as companies restrict it for members of their content development initiatives.
Regular payments are a popular way to generate money while streaming. Streaming services that do not currently have regular payment services will most likely include them in the future. Certain apps let you earn money in the form of virtual gifts.
Start Your Line of Merchandise
Making your merchandise is an excellent method to earn money from your dedicated audience. Streamers generally partner with an online store and divide the revenue. You can market an infinite amount of things!
However, here are some options about where to begin: t-shirts, cups, caps, and other items, printed novels, tangible manuals, and other digital products. You can also sell tickets for a fans-only exclusive meetup.
The type of content you put out will determine the kind of goods you sell. It must be appropriate for your target audience and brand.
Remember that making real things from scratch will take a more significant financial commitment. But it will also result in a more substantial revenue stream, as you will keep most of the proceeds from each sale.
Become Part of An Affiliate program
The final option for making money from live streaming is to become an affiliate.
Affiliates are persons who earn a commission by promoting a product or service – often through an affiliate link or coupon code. Their business model revolves around making between 5% to 30% of the transaction.
Because they are minimal risk, affiliate programs are an excellent location to begin making money. And, as long as the items are relevant to your subscribers, they will be delighted to learn about them.
Half of the web, comprising Google apps and Facebook, is already powered by ad revenue. Why not you as well? You may start making some nice ad money if you join the correct streaming service or social network.
However, not every streaming platform provides adverts to producers. Some are very opposed to advertisements. Others have yet to integrate a third-party ad provider.
Advertisements in online broadcasts are a contentious subject that frequently sparks debate. When you mid-roll ads, try to maintain as much control as possible. Update your stream description with anything that you think is important.
Also, keep in mind that users can still use ad-blocking software to stop certain advertisements from appearing.
As a result, relying only on advertising to monetize your live streaming may not be the most excellent decision.
Brand partnerships and sponsorships, which are less contentious than traditional commercials, are another method to generate money while streaming by collaborating with corporations in a productive relationship.
Brands will approach you with offers if you have a broad audience on streaming platforms. And if they don’t respond, you can always reach out to them.
It helps to be professional and detail-oriented when working with brands. You’ll want to discuss every aspect of the arrangement to ensure that you’re both on the same track about your commitments.
Here are a few common questions people ask.
Can You Play Games on Live Streaming Platforms?
Yes, you can play games on streaming platforms. There are dedicated platforms for professional gamers like Youtube gaming and Facebook gaming, where you can upload your streams and make a few bucks. Many streamers like Ninja treated streaming like just a hobby, but now he earns around $15 million yearly.
What Does Monetization Mean?
Video monetization is all about getting money for the videos you make. The more people consume your content (or interact with your channel), the more money you make. Viewers watch, comment, or like, and you get cash.
People may also be able to watch your content on a pay-per-view subscription.
People have been looking for ways to do fascinating new experiences online and make money since the inception of the internet. If you want to make money from live streaming, you may utilize any of the strategies on this list.
You may even attempt to make money on many streaming sites simultaneously with the aid of a multistreaming solution like Restream.
However, remember that you must develop material that people want to view.
Once you’ve built an audience, you must maintain it. Your audience is your most valuable asset when you want to generate income from live streaming.