Live streaming is an industry that has evolved over the years. Live streaming is the broadcasting of a performance, presentation, or project over the internet via live video. It is unlike pre-recorded videos, which are editable.
Some key features of a live video feed (live streaming) are that it is real-time, live, uncensored, and has the option of a live chat which allows streamers to engage directly with the audience during streaming sessions.
Research shows that audiences spend three times more time watching live video and that 47% of people are streaming more live video than last year.
Here are some stats on live streaming:
These live streaming statistics prove that a vibrant industry is on the rise, and individuals, businesses, corporations, and organizations who want to get paid using live stream platforms like Youtube, Twitch, Facebook, and others, can do that by incorporating them into their activities.
Keep reading to see how to.
How to Get Paid to Live Stream on Youtube, Twitch, Facebook
There are 5 main ways you can get paid to live stream on Youtube, Twitch, and Facebook
- Launch your own platform – Avg. $5800+/month
- Create your own products – Avg. $2000+/month
- Find a stream sponsor – Avg. depends on CPM
- Ask for Patreon Pledges – $1 to $1,106/month
- Join an affiliate scheme – Avg. 5% to 30% commission
Does Live Streaming Cost Money?
Yes, we pay to live stream. In fact, most live-streaming platforms are been made use of through the following means:
- A flat rate either on a monthly or annual basis is paid to access the streaming service, and this cost varies among different platforms and even from package to package. Usually, paying up-front for an entire year attracts a discount.
- In addition, all streaming package plans are allotted a specific bandwidth and storage range, but if users are in demand for more, the option to increase is available with a fee charged for such. Typically, cost per gigabyte decreases with increasing volume
- Just as the GSM providers adopt this method for regular customers, so some streaming platforms like Dacast adopt this method, and usually, it is an ideal option for occasional streamers, whose needs of streaming may span once for a yearly/one-time event.
#3 Supplementary Expert Services
- Usually, professional broadcasters who need extra support to service industry needs will usually seek support from streaming platforms, and of course, this comes with a charge. Where a broadcaster does not have the in-house resources to develop an API-based online platform, it is only sensible to appeal for support from the streaming platform in use.
How to Make Money on YouTube Live Stream
Though they are many ways by which we can earn money through youtube, however, as regards live streaming, revenue can be earned by enabling ads and using Super chat.
Also if your channel is enabled for monetization, ads will be automatically triggered by youtube to serve your content, though it is not guaranteed that all viewers will continue to see your Livestream.
How to Make Money with Twitch Livestream
- Channel Subscriptions and emotes: Partners (live streamers/gamers) of twitch earn revenue by receiving subscriptions from viewers.
Subscription options include $4.99, $9.99, $24.99, or the Prime Gaming free subscription. Partners can also pay to unlock up to 50 channels.
Twitch emotes, which are used as a way to communicate or react to something happening in the Livestream and are created by the hosts so that viewers can interact with the live video.
- Use of bits: In essence, bits are a type of virtual currency that gamers spend on their favorite live streamers, this bit is actually used to support these gamers, so a participating partner or affiliate will get paid one cent for every bit fans use on their channels to celebrate them.
- Ads: Any ad played on the channel of a gamer attracts some form of revenue for that gamer. Control of ad length and frequency enabled for gamers on their dashboards.
How to Earn Money by Going Live on Facebook
Going live on Facebook can also earn you money. However, money is earned via Ad breaks, which lets users take short breaks from their live videos to run 10-15 seconds ads.
Every user can stream, but not every user can is eligible for ad breaks, criteria include having at least 2000 followers and the live stream having an audience comprising of 300 people, then, the ad breaks can now appear on your live broadcast if you have been recording for at least four minutes.
After the first ad breaks, subsequent ad breaks will be at five minutes interval
Top 10 Best Live Streaming Platforms Available on the WorldWide Web
Below are the best live streaming platforms available on the worldwide web:
Simple Ways to Becoming a Big Earner on Live Stream Sites
There are some things about live streaming in 2021 everyone should understand. One of them is that live streaming is not only about playing video games and inviting other people to watch you as you do it.
Another, and maybe even more important, is that for many people, live streaming is a bona fide venture, so much that it becomes a day job for them.
There are several ways to earn from live streaming. But getting to this point demand time and energy, of course, where there are many who make money through live streaming, there are still some who don’t think is possible and more who don’t have an idea on how to go about making money via live streams on different platforms.
Here is some of the easiest way to do it, followed by the ones that require more expertise or are just unconventional.
#1 Getting donations or tips from fans
Most live-streaming platforms and websites allow you to make money while streaming by letting viewers send you donations or tips. Integrated services are usually modified in such a way that some sort of digital currency can be used for such transactions.
- Facebook’s tipping service makes use of Stars,
- DLive lets viewers make blockchain-based Lino points
- Twitch allows viewers to “cheer” their favorite gamers using Bits,
- The mixer has a system where viewers accrue Sparks by watching streams and use them to purchase skills which consist of animation and gifs
- YouTube’s main tipping service is Super Chat.
#2 Regular viewer payments on the streaming platform
Not all platforms have adopted this form of revenue generation, but this would not be for long because it is becoming a popular way to generate earnings.
- YouTube has a channel membership program that allows users to join channels with monthly payments, though channels open to this opportunity, must be in the YouTube Partner Program and meet additional eligibility requirements.
- Twitch has a paid subscription program that allows you to earn from paid subscriptions if you are an Affiliate or Partner. Viewers get one free subscription through Twitch Prime, or they can pay for them using PayPal, Amazon Pay, or credit cards.
- Facebook Gaming is working upon a subscription program
- The mixer has a Partner Payments program with subscriptions, through which users can set up payments with cards or PayPal.
#3 Revenue from ads
For obvious reasons, Advertising in live streaming is a hot topic and a regular cause of controversy. Joining the right streaming platform guarantees that you will definitely earn money through ads if you meet up the platform’s requirements.
You will virtually need to join the right streaming platform, though, because not all of them offer ads, and even some like DLive are anti-ads. If you desire to make money through ads, then these are the platforms to join:
- YouTube offers pre-roll and mid-roll ads, as well as display and overlay ads.
- Facebook Live offers mid-roll ads if you meet the viewership number criteria.
- Twitch offers in-stream ads, as well as display and native ad opportunities.
Exercising control over ad length and frequency is to an extent available on these platforms. Also, remember that viewers can use ad-blocking software to prevent some ads from showing.
#4 Brand deals and sponsorships
Less controversial than regular ads, sponsorships and brand deals are another way you can earn huge sums of revenue by engaging with businesses in a mutually beneficial agreement.
Usually, this will only happen if you have a sizeable number of followers and these brands prove that it will profitable for them to appear in your stream sessions. Tem, you will reach out to them if you think you can meet up to the requirement if they have not reached out.
Some of the ways you make money on live streaming sessions through deals with brands include:
- Banners and other types of advertisements
- Sponsored content
#5 Affiliate sales
Membership in an affiliate program will allow you to get a commission every time a shopper clicks on your affiliate link and makes a purchase. At times, a link may not be needed for this, as a coupon or promo code can be provided for interested customers to use when they shop at the place you are promoting. This works by you placing the link or the code somewhere in your stream description.
#6 Tips and regular payments via third-party platforms
At times, a live streamer might for one reason or the other want to process donations and subscriptions through a third-party platform. To do this, some popular options are easily integrated into different Livestream platforms, they include:
- Streamlabs for one-time donations. It integrates easily with Twitch, YouTube, Mixer, Facebook, Periscope, and Picarto, and it offers six different payment options.
- Patreon for regular donations/subscriptions.
- GoFundMe or Kickstarter for project-based funding. Looking for funds or setting up a project is made easier by setting up pages on these websites and using your live streams to promote your project.
Other Ways to earn money on streaming may include:
- Create and sell your own merchandise via drop shipping or direct sales
- Developing pay-per-view content
- Coaching/teaching/offering lessons
Making money via live streams is no rocket science. It will only take you time, money, and energy. In truth, building a brand that resonates with the interest of people will naturally lead to monetary rewards, which can rake in earnings.
Different kinds of brands also fit into different kinds of platforms for live streaming. For example, gamers who Livestream are chiefly doing it via Twitch and to an increasing extent Facebook. Same for religious speakers who use more of Youtube than Facebook for live streaming