Best Ways to Make Money With Live Streaming

Getting paid from live streaming platforms is relatively easy with video monetization. However, making people want to see you and discovering the best ways to make money with live streaming takes time, energy, and content. Those who are getting rich from streaming are a small minority. For example, the top 1,000 channels on Twitch get 53% of total viewing time. Larger streamers can make between $3,000 and $6,000 monthly, but smaller streamers (those with less than 100 viewers) can make $50 to $1,500 monthly.

How much you can earn depends mainly on how many sources of income you have. As streamers can also earn cash from donations, merchandise, and affiliate programs. Twitch has over two million channels, but if you’re willing to put in the work – a lot of it – you can make money from streaming, too.

How is Live streaming booming these days?

Live streaming is highly being popular among people these days. It not only the best way to make money but it helps businesses with an interactive and engaging way of connectivity with the target audience. The popularity of live streaming has grown mainstream and has impacted almost every sector globally. The convenience of streaming programs in real time and making it more interactive for the audience has made live streaming the most popular option to communicate with the audience. Live streaming has given a boost to the media and entertainment as well as sports industry.

Through which, you can increase your viewership engagements, and keep them engaged in real time for the duration of the video. Additionally, 64% of internet traffic comes from people ages of 18 and 34. They are active in live streaming platform to enjoy their favourite shows.  According to recent survey, the live-streaming business is estimated to grow rapidly in the coming days. Resulting, it has become a popular career option for people, and live streamers are making anywhere from US$50 to US$1,500 or more per month. 

What can you stream to make money?

• Get tips for live streaming _ You can also add links when you upload your video on streaming platforms. Those interested in your content can pay you through PayPal, Venmo, and CashApp and ask people to recommend those services. As per Deloitte’s research, “tipping” will likely be the primary income source for streamers. Fans can now fund their favorite creators more efficiently than ever before. When you hear “online donation,” you might think of “donate” buttons on websites and YouTube pages. Live streaming platforms have come a long way since then, putting donation systems for fans directly into their interfaces and turning the whole thing into a game.

• Affiliate marketing_ This is also another best option to make money. In this context, you can connect with your affiliates, and ask them what they have to offer and include a link to an affiliate. You’ll get a money cut every time a customer buys something through your link. There are various affiliate programs available helping you to make money streaming. It often works like this: a sponsor gives you a special link (or promo code) to a product.It is one of the most-effective way to generate more income for people who make live content. Let’s take an example, if you’re a beauty blogger, you can use a live stream to show how to use a hair dryer. People who watch your videos get to see how the product works in real-time, which makes them more likely to trust the product. Interest people definitely buy that product through your provided link. The affiliate program will still work even after the stream becomes VOD content.

• Get sponsored by brands_ People who make products wants to make a good deal with a recognized company. This type of deal works better with both live and on-demand video. However, most people believe that promoting or advertising goods by the brands through live video feel more accurate and authentic. The profits from the advertisement may vary greatly depending on the brand, how niche your channel is, how big your following is, and other things. Sometimes, you get a good amount of money, and sometimes the brand gives you free stuff. 

Conclusion

If you really want to know best ways to make money with live streaming, then the more shots you take, the more likely you will succeed. For best results, blog suggested you using more than one of these methods. Experimenting can help you determine which works best for you and which only costs you a small amount of money but takes up a lot of your valuable time and effort. Despite all this, please remember that your live content must still be helpful. If all your viewers see are ads and pitches for your products on your livestream, you could lose them all forever.

Chandan Luthra - Director, Product Engineering, Enveu

Chandan Luthra is a co-founder of Enveu, and heads the Engineering department at Enveu. He is an early adopter of OTT tech and has been part of many OTT platforms across the globe. He is developing & building Products and SaaS platforms for more than 13+ years