How to make money streaming: 6 ways to go live and get paid
In this article, we will see how you can make money from video streaming, or in other words, monetize your live video stream.
1. Run ads
Ad serving is a safe method of monetizing 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 those that viewers see at the same time while watching the video.
Ads are a great way to monetize your video content, but it’s tricky. You need to play the ad, get the viewer to click on it, and at the same time make sure the viewer doesn’t get bored and leave your live stream. Also, major platforms like Facebook and YouTube have different regulations for streaming videos and running ads.
When to run the ads: The best time would be when the creator or person doing the livestream wants to take a break. Time your ad correctly – don’t leave the viewer hanging in the middle of a sentence!
When you are running a live stream on YouTube, you can play the ad at any time from your live video. However, try to keep your audience informed that a break 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 simultaneous viewers on the latest live video, you can take a break after 4 minutes.
If you want to maximize the profits from your live video streaming, 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 your ads being converted are higher, which translates into higher revenue.
2. Subscriptions / Pay per event
The other way to make money from your videos is to get your audience to subscribe or pay for your video. You could release a teaser, giving the audience a taste of what’s to come. If viewers want to see more, they must subscribe to your page or pay for the video. Streaming platforms like Vimeo Live and IBM Cloud have subscription features built in.
3. Donations and crowdfunding
A recent Deloitte Global study found that “donations are also an emerging element of the business model for other live streaming platforms, including platforms used for streaming video games.” Many live streams ask their fans for donations and give them virtual gifts in return.
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, build your project, specify your goals, and then promote your project on other platforms, so that people visit your project page and contribute to it.
Setting up an affiliate program is a sure way to monetize your video stream. However, it may take time to establish and deliver the benefits you expect. The best part is that once you have 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, 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, instruct 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 on the market for deals and sponsorships. Brands are not showing up to sponsor your video feed, you need to take the first step and reach out to the right people. However, when you are doing that, make sure you stay within your niche. The theme of your video must be in accordance with the brand that is sponsoring it.
6. Sell your products
Live videos are a great opportunity for subconscious selling. For years, marketers have been using this technique to sell products and services to their audience. However, you must remember that subconscious selling only happens when you have already built trust in 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 don’t have to directly sell your product when you are streaming the video live. Use the product and then talk informally about its features and where it can be purchased and then go back to the main topic of your video. This could unconsciously encourage viewers to see the product and buy it.
Live video streaming gives you ample scope to explore your passion, share your insights with your fans, and still make money. To get the maximum profit from your live video streams, you can use a combination of the 6 ways above. The competition on the Internet is very high, so you must work continuously to keep the attention of your fans so that they keep coming back to you. To keep your fans interested, your video content needs to be interesting, useful, and clear. Create great videos and build a loyal following – you are sure to see a return on your investment.