Live streaming immediately connects you with your audience, regardless of the geographical location. It lets your fans react in real-time, which makes it way more interesting for them than streaming pre-recorded videos. However, while you connect with your fans, you can also make money with live streaming.
Popular Live Streaming Platforms let you convert your live streams into currency. These platforms employ various methods, so you meet many opportunities to generate income out of your effort.
Today, in this article, we’ll learn such effective methods, and you can choose the options that suit you the most.
Why Is Live Streaming Growing With Leaps And Bounds?
Conducting live streams now and then significantly increases your brand recognition. Live streaming is a boon for both businesses and content creators since it lets people connect to the creators face-to-face. Such a connection increases your audience’s trust in your brand and inspires them to be your potential customers or followers.
With months and years passing by, live streaming has become the prime choice of the population. The same is prominent in the stats about the global live-streaming market, which was USD 1.49 billion in 2023 and is predicted to be at 3.21 billion by 2027. The opportunity to monetize live streams has inspired content creators even more to connect with their fans in real-time.
Creators can also livestream and earn money; the same is true for businesses, regardless of their industry.
How To Make Money With Live Streaming?
We got an idea about why live streaming is trending. Now, let’s head on to the 10 proven ways in which live streams let you make money.
- Live Events
- Access To Special Content Via Subscriptions
- Ads Placement
- Receiving Donations
- Live Tutoring
- Live Reviewing Of Products
- Church Sermons And Religious Events
- Taking Sponsorships
- Generating Revenue with Live Shopping
- Affiliate Programs
1. Live Events
Some streaming platforms let creators charge their audience a fee to access the live streams.
For example, musicians can provide their fans access to an event and charge an amount for it.
This way, people who are interested in streaming your performance would be willing to make the payment. Creating such paid live streaming events can be an amazing way to earn significantly.
2. Access To Special Content Via Subscriptions
Next, you can consider offering paid subscriptions to your audience. The revenue option works well when you already have a good fan following. In return, you can provide your audience access to exclusive content, ad-free streaming, live streaming, incentives, shoutouts, and other creative perks.
3. Ads Placement
When you, as a creator, are unsure whether your audience would pay to access your live streams, you can go live and make money through ads. Live streaming hosting allows you to place your ads in various intervals, such as in the beginning, middle, or end. Such an approach would let your audience access your live stream without making any payment where they’ll have to go through some ads, and you will generate income.
The ads you display in the live streams are categorized as Pre-, Mid, and Post-roll.
- Pre-roll ads refers to placing an ad at the beginning of the stream. Your viewers need to stream the ad before they can stream your session.
- Mid-roll ads are referred to the ads that are placed in between the streams. Viewers watch the ad and continue with your session once the ad finishes.
- Post-roll ads are placed at the end of a stream, up to 3 minutes long. However, such ads might cover some part of the screen’s area without affecting the visibility.
4. Receiving Donations
As a creator, you might be aware of donations that fans make to their favorite creators in order to support their work. Several Video Hosting Platforms allocate a specific function to let your subscribers donate. You can livestream and receive donations during streaming.
5. Live Tutoring
Another way to make money from your live streams is by tutoring online. Let people know about your online classes and ask them to join you. You can also set a specific fee to let them attend your sessions. This way, as a tutor, you can conduct single-time or regular sessions on a specific day and time.
You can be an online tutor or coach and start mentoring your audience in a subject you have expertise in.
6. Live Reviewing Of Products
Use live streaming to review products and provide your feedback to the viewers. This way, you would generate revenue from your streams while helping your viewers decide whether or not they should go with a particular product.
7. Church Sermons And Religious Events
You can even help people attend religious events such as church sermons. A large amount of the population can’t visit places to pray due to many reasons, such as time obstructions, health issues, etc. These people mostly attend prayers and sermons via live streaming. So, if you can provide such services regularly to the devotees, you can monetize the live streams.
8. Taking Sponsorships
Content creators and video driven businesses can also earn by taking sponsorships and endorsing brands’ products. Once you have a good subscriber count, you can approach different brands and ask for sponsorship opportunities. However, you should only choose brands that resonate with your niche. You can then talk about a brand or its product in your live videos, helping the brand improve its visibility.
9. Generating Revenue with Live Shopping
If you’re a seller or own a brand, you can utilize live shopping and get paid. Live shopping enables sellers to showcase their products in real time where the customers can buy them on the spot.
10. Affiliate Programs
Many brands provide affiliate programs, and by signing up for them, you can mention the products’ links during live streams or in the description section of your videos. Whenever someone purchases using the mentioned link, you earn a commission on it.
From content creators to brands, live streaming is the need of the time. If you want a large audience to be aware of your existence, you should start indulging in live streams more often. The ability to monetize every live stream is surely the icing on the cake that every video-driven businesses should make use of.
Get the ball rolling by choosing the best live streaming platform that lets you monetize live streams and provide monetary gains. Nothing can stop you from shining once you start attracting viewers and building subscribers.
The total earnings of creators depend on their count of subscribers plus the quality of viewership. It also differs as per the platform such as on GUDSHO you can earn 5x revenue of your current earnings.
As a creator, you can sell live events, take sponsorships, run ads, join an affiliate program, etc.
The best live-streaming platform is determined by the features it offers, the pricing plans, and if it supports your niche. Creators producing content in the Health, Entertainment, and Education niche can choose GUDSHO, YouTube, Vimeo, etc. Those who like to stream video games can opt for Twitch.
The live streaming capability varies from platform to platform. It’s best to look for streaming capability while choosing a live-streaming platform. Some platforms let you stream for a few hours, whereas some even provide 24/7 streaming options.