Live streaming has become an innovative way to mint money. It offers a vast potential to broadcasters, content distributors, and business people.
Why is Live Streaming Booming These Days?
Live streaming has altered the way retailers and marketers used to connect with their audiences.
There was a time when e-commerce stores relied on static images and boring text descriptions to engage customers.
Still, with the advent of live streaming, video content gained momentum, and that’s how live streaming flourished.
- Live streaming is the easiest way to strike a chord with the audience.
- It is more affordable than standard video ads
- Streaming is a versatile format that is liked by one and all.
- It uplifts customer experience and lets you earn more.
Here are some avenues through which you can make money live streaming.
How to Make Money Live Streaming
1. PPV- Create Pay-per-View Events
Pay Per View Events is a simple live-streaming model that allows you complete freedom to charge money as per the video.
PPV’s revenue model has helped many live streamers and trainers monetize and profit from it.
It is also convenient for users not interested in viewing a content bundle and who want to view only a few as per their areas of interest.
2. Request Donation
If you are really doing hard work and continue going in the right direction, the audience will not mind helping you. They may offer donations or tips to support the cause.
3. Recurrent Payment Model
The subscription-based payment model is the most effective way for live streamers to earn money. Recurrent paying viewers will keep paying to get valuable content from the platform.
So, ensure content is interactive, worthy, and anything that attracts the audience to subscribe to the platform. It is perfect for constant creators.
4. Revenue from Ads
Ads let the content distributors earn money by adding ads to live streams. Instead of charging the viewers access to live streams, you can offer them ads and let them watch the stream for free.
Ads might appear in the skippable or non-skippable ad. It is a lucrative opportunity for live streamers to gain a lot of viewers.
5. Sponsorship
It is yet another way to earn money through live streaming. The businessman can create engaging content in a mutually beneficial arrangement.
If you have a large audience for your stream, the brands might reach out to you with lucrative offers, or you can contact them.
This way you can make a lot of money. Negotiation skills can come in handy.
Some methods to make money are when you are sponsored by a brand, display ads during the streams, or through sponsored content.
6. Affiliate Marketing
Membership in an affiliate program can earn you a commission every time the buyer clicks on the affiliate link and purchases something.
Sometimes you require only a promo or coupon code that your viewers can use to buy something.
Once you become part of the affiliate program, the link is offered. You could also mention it during live streaming.
Related – Affiliate Marketing Tutorial for Beginners to Make Money Online
7. Sell Your Products
You can sell your products or merchandise through a live stream or broadcast.
Various live-streaming options are available that provide plenty of advice on boosting merchandise sales.
Live streamers can sell t-shirts, caps, digital books, home decor items, health and wellness products, etc.
8. Integrate Shopify within the Site
You can integrate an existing Shopify store within the live-streaming site and earn revenue by selling products.
It helps you to showcase your store on the website. You can also link it to digital content so that the end users can buy these products from the Shopify store.
Websites that help Live Streamers Make Money.
1. Twitch
It is one of the live game streaming platforms that pays you sufficiently for streaming the content. Here, you can stream almost any event, from music and sports to creative works.
Twitch lets the streamers interact, give live comments, and participate in the polls. It is a user-friendly platform that offers live Streaming on desktop and mobile.
2. YouTube Live
It is by far the most popular and widely used live-streaming platform that provides an array of services to live streamers. It lets you live stream using mobile, webcam, and encoder.
3. Instagram Live
This social media platform allows users to live stream videos and earn income. Instagram provides a lot of opportunities to share content.
It also lets your audience replay the content later. The website has a live chat option that brings guests to your stream.
You can further monetize it using ads or by asking for donations.
Related – 4 Simple Ways to Make Money from Instagram Reels
4. Create Your Website
You can also create your website to stream the content or publish live events.
Related – How to Start a Blog & Make Money Online
5. UScreen
It is the best platform to deliver on-demand and live video content for the audience.
The platform is user-friendly, easily accessible, and focuses on audience engagement.
It lets the creators diversify their strategy and foster a better relationship with the customer to sustain revenue.
6. Restream
The platform will clique the interest of budget-conscious streamers who wish to make their multiple contents live simultaneously.
With it, you can select 30 platforms like YouTube, Facebook, Instagram, and LinkedIn.
You don’t need special equipment to live stream; a standard webcam and microphone are sufficient.
Winding it up
Live streaming has gained popularity, and brands are seconding it by being a part of it.
These platforms are worth visiting if you wish to pocket money just by going live.
