If you want to engage with live video streaming online as a way of making money, then you’re at the right place, as you can seek advice on how to make money streaming. The recommendation includes fund-raising from viewers, being paid by companies to mention their products, advertisements, social networks among the fans, and much more.
However, bear in mind it is those few channels that yield most of the views on those platforms. However, although you may make money from streaming, it’s not so simple. You must be willing to work really hard to get money from this.
The more you stream, the more visible you will be and a stronger following will develop. However, audience expansion requires time. We have come up with a few ways to make money streaming. Let’s check them out.
Live shopping
The live streaming show is similar to a TV show that highlights products that you can buy. It’s a mixture of online shopping and it’s blended with social media and live video. Instead of being mere spectators, you can fulfill your desire to own what you just witnessed on TV. Be it a company that sells goods or an influencer, who is selecting things from different entities, all can engage in this sort of show. You can stream these shows from three different places.
- Social media apps
Some applications like YouTube and TikTok allow you to watch online streams where you can buy those goods right away.
- Shopping platforms
There are even virtual shopping destinations just dedicated to a live chat exclusively. These videos contain products that you can purchase from the Livestream itself. These variants include PopShop, TalkShopLive, Amazon Live, ShopShops, and Buy With.
- Your online store
With your online store, you can take advantage of live stream services that enable your interaction with customers. You can highlight your products in a live stream and even add links to buy the products on the screen as well. It makes buyers to just click a button wherever they’re watching the stream form.
Fans can either donate or tip the streamer
You can invite your viewers to make a monetary contribution if they watch live videos on your YouTube channel or Twitch. However, it is another way these individuals can live stream and earn money, yet the sum they get can differ. It is also possible by linking to payment services like PayPal, Venmo, and CashApp and asking viewers to send you tips via those platforms.
According to a recent study by Deloitte, most streamers will likely rely on these tips as their primary source of income. Money can now be transferred very quickly from the audience to the creators of the content they support.
As for the donations being online, you probably think of the small buttons you see on websites and YouTube channels. However, Through stream donation websites, fans experience a sinking of funds directly to their favorite accounts, transforming it into a thrilling activity.
Paid subscriptions from viewers
Paid subscriptions are like memberships for Twitch channels and YouTube videos. When fans subscribe, they pay a fee to get exclusive videos and know when the streamers will be live. Streamers get money regularly through this system.
In another system, called pay-per-view, fans must pay a certain amount to watch extra special live content from creators. This content is usually worth paying for because it’s unique. Subscriptions work like Netflix – you pay a set amount each month to access a creator’s exclusive content. It’s like making a monthly donation in advance.
Revenue from ads
Lots of websites and apps make money from showing ads, like Google and Facebook. You can do the same! If you use a streaming platform or social network, you could earn some cash from ads.
When you start making live videos on platforms like YouTube or Facebook, you can join their ad programs. Here’s what kinds of ads you might come across:
- Pre-roll ads
These advertisements play before your video starts, and viewers need to watch them before they can see your content.
- Mid-roll ads
These promotions come in the middle of your live stream while your video plays in a smaller window.
- Display and overlay ads
These are small ads that pop up on your video, like banners or cards.
Brand deals and sponsorships
Getting paid through brand deals and sponsorships is another way to make money while streaming by working with businesses in a win-win setup. Companies might want to work with you if many people watch you on streaming platforms. If they don’t approach you, you can approach them. This is how does live streaming work.
One of my core values while working with brands is being professional and taking care of the smallest details. Instead of being paid by the hour or at the end of the month, your income comes from brands that present you with the opportunity to earn. It would be a good idea to go over the entire contract to ensure both parties have a clear understanding of their roles.
Here multiple ways to generate income, such as:
- Sponsorships: Brands pay to have their names added to their streams.
- Showcasing ads and banners during your streams or on your channel.
- Sponsored content creation is similar to being an actual player getting paid for your performance.
The viewers are the heart ‘n’ soul of your site. It is essential to have many viewers and be familiar with them, know what they like, and what problems they have. Do not fall into the trap of getting deals that portray you as someone who is only focused on having money. Perhaps your audience won’t like it. In that case, you will not be able to find sponsors, either.
Affiliate programs
When you become part of an affiliate program you can make money whenever a customer uses your referral link or code to purchase something. Don’t just post a link you share but tell people about an exclusive discount code they can use when they shop from the brand you are promoting. As soon as you join the affiliate program, they will offer you a link or code on which to use it.
Previously, you had to include the link or code for the affiliate program in your stream info. You can also mention your coupon code as many times as possible within your stream. Audiences can have your affiliate link by scanning the QR code when you are broadcasting on these platforms. This enables the viewers to easily scan the link with their phones instead of doing a new search for it.
Note that if the service is not partnered with the affiliate program of the brand, it won’t receive your patronage from affiliate sales. Thus, go along with your theme and suggest products or services that may help you and live streaming apps to make money.
Make and sell your branded merchandise.
A great way to make money if you are a maker of videos is to sell customized items. You can design hats, t-shirts, mugs, and other stuff based on your videos, and sell them on your website or Amazon.
Product talk during a live stream gives a platform for one to create brand awareness. You can show your merch while doing the stream and specify where to get it. You can include links here as well. Sites such as Amazon Merch, one of the main online platforms that offer this option, help you create and sell without investing any upfront funds.
Develop pay-per-view content
Making live content and selling tickets for them is another way how do streamers make money. It’s not just about gaming anymore – people who like all sorts of things are watching live streams. They participate to pick up knowledge and converse with like-minded people. If you can make content that these viewers like, you can earn money by selling tickets for your live stream.
First, you must create content that people want to pay to see. It should be special or different from what’s already out there for free. Additionally, you must choose a platform that enables you to charge for your live broadcast tickets. Services like Streamtick allow you to sell tickets for live shows on YouTube, Facebook, or Twitter. If you have great content and a way to sell tickets, you’re ready to make pay-per-view shows.
Coach/teach/offer lessons
You can share what you know by teaching others in various ways, such as giving live talks or classes. If that appears formal, you could also become a mentor or instructor to somebody. If you have information or skills others desire to learn, you can bring in cash by sharing what you know. Live streaming can be a significant assistance with this.
A common way to do this is by spending time one-on-one with someone who pays you for lessons or coaching. You help them reach their goals. For instance, you could offer monthly private lessons to people who support you. You can also do one-time sessions.
Many streaming websites are getting better for this kind of work. More and more of them let you stream with someone else, which is great for coaching someone in a video game. As these platforms get better, problems like delays are becoming less of an issue, so it’s easier to talk with people through chat. Some platforms even let people call in. You can start advising people on game strategies and preparing them for jobs by picking the right platform and service.
Conclusion
Live streaming lets people who make videos earn money in many different ways. They can sell things, get donations, work with brands, or charge for special shows. Creators can make money streaming and build a supportive fanbase by using these methods and keeping their viewers interested.
One site that empowers creators to monetize their work and draw in their crowd in new ways is OnTheFly. It has excellent features like letting viewers shop while watching and helpful stats. Whether new to streaming or a pro, OnTheFly has everything you need to make money doing what you love.
