How to make money streaming: 6 ways to go live and get paid
In this article, we will look at how you can make money from streaming video or in other words monetize your live video stream.
1. Run Ads
Running ads is a sure method to monetize your live video stream. There are two types of video ads: In-Stream (linear video ads) and In-Display (non-linear video ads). Ads that are shown before the video are called linear video ads, while non-linear ads are ads that viewers see simultaneously while watching the video.
Ads are a great way to monetize your video content, but it’s complicated. You need to play the ad, get the viewer to click on it, and at the same time make sure that the viewer doesn’t get bored and leave your live stream. Also, major platforms like Facebook and YouTube have different regulations for video streaming and ad serving.
When to run ads: The best time would be when the creator or person doing the live stream wants to take a break. Time the ad correctly – don’t leave the viewer hanging in the middle of a sentence!
When you’re running a live stream on YouTube, you can play the ad at any time on your live video. However, try to keep your audience informed that a pause is coming.
On Facebook, not all video streamers will have the option to take a break. If your Facebook page showing the live stream has more than 50,000 followers and more than 300 concurrent viewers on the latest live video, you can take a break after 4 minutes.
If you want to maximize profit from your live video stream, you need to drive traffic to your website or Facebook page. When you have a higher number of visitors, the number of concurrent viewers increases, so the chances of ad conversion are higher, which translates to higher revenue.
2. Subscriptions/Pay Per View
The other way to make money from your videos is to get your audience to subscribe or pay for your video. He could release a teaser, giving the audience a taste of what’s to come. If viewers want to see more, they need to subscribe to your page or pay for the video. Streaming platforms like Vimeo Live and the IBM Cloud have built-in subscription features.
3. Donations and Crowdfunding
A recent Deloitte Global study found that “donations are also an emerging element of the business model for other streaming platforms, including platforms used for streaming video games.” Many live streamers ask their fans for donations and in return give them virtual gifts.
Crowdfunding is another method to monetize your video stream. Indiegogo, Kickstarter, and Patreon are some of the popular crowdfunding platforms. You need to create an account on these platforms, create your project, specify your goals, and then promote your project on other platforms, so that people visit your project page and contribute.
Setting up an affiliate program is a surefire way to monetize your video stream. However, it could take time to establish and give you the returns you expect. The best part is that once you’ve got it set up, you can passively earn money as your video becomes more popular.
You need to link with affiliate platforms like Amazon and Flipkart first. You can create videos about products sold on the platforms. If you have a video stream that focuses on technology, then you can choose such products. For example, a mobile phone: You can create a video about mobile phone features, troubleshooting tips, the best ways to personalize your mobile phone, and much more. At the end of the video, direct the viewer to go to the product page on the affiliate platform. Every time a viewer clicks on your video and goes to the affiliate site, you earn a commission.
If your live streaming channel is popular, then you can confidently approach the biggest players in the market for deals and sponsorships. Brands don’t come forward to sponsor your video stream, you need to make the first move and reach out to the right people. However, when you’re doing that, make sure you stay within your niche. The theme of your video must be in accordance with the brand that sponsors you.
6. Sell your products
Live videos are a great opportunity for subconscious selling. For a long time, marketers have been using this technique to sell products and services to their audience. However, you have to remember that subconscious selling only happens when you have already gained the trust of your viewers. Market research shows that a person is more likely to buy a product when someone in their social group has already bought it. That is why influencers play a very important role in promotions. However, you do not have to directly sell your product when you are streaming the live video. Use the product and then talk casually about its features and where it can be purchased and then return to the main topic of your video. This could subconsciously encourage viewers to view the product and purchase it.
Live video streaming gives you a wide scope to explore your passion, share your insights with your fans, and still earn money. To get the maximum earnings from your live video streams, you can use a combination of the 6 ways above. Competition on the internet is very high, so you have to continually work to keep your fans’ attention so they keep coming back to you. To keep your fans engaged, your video content must be interesting, useful, and clear. Create great videos and build a loyal following – you can surely see the return on your investment.