The global live streaming industry is swelling fast and with that there are more opportunities than ever for the live streaming businesses. According to a recent report by Statista, the annual live streaming hours watched on major platforms in 2019-2020 was 27.9 billion around the globe representing a 78.5% rise compared to the previous year. No doubt that the demand for live streaming is going to rise further and the players in this field are expected to witness a rise in profit in the coming years. No matter whether you are already operating in the live streaming industry or not, you must have a clear knowledge of how to earn from live streaming. And while this may seem simple, it actually requires in-depth knowledge on everything- starting from monetization models to how the pricing strategies for your live streaming should be. And in this blog we will cover all you need to know to earn from live streaming. So, let’s start!
A Guide to Earn from Live Streaming- Things You Need to Know
There are multiple ways to earn from live streaming. But before we discuss that, you must ensure the following things-
- The content quality of live streaming that will be monetized
- Your preferred monetization model
- The targeted increase in revenue/recurring revenue
- The position of your live streaming content in the current market
And then you can focus on the different ways to earn from your live streaming-
Direct Earning from the Live Streaming Platform
The easiest and fastest way to earn from your live streaming is utilizing your live streaming platform fully. If you opt for a quality live streaming platform, you will get multiple monetization options to earn from your live streaming such as-
With this monetization model you can get subscribers to your live streaming channel who can get access to all your live streaming content. This monetization model is quite popular among both the live streamers as well as the customers. While the service providers can earn a fixed subscription amount recurrently from the customers, the viewers also get the perks to watch all the live streaming content without paying any additional amount.
The pay per view monetization model has become sought-after over the years owing to the flexibility it offers to the viewers. This monetization model gives the liberty to the customers to pay only for what they watch and not anything extra. For instance, if a viewer only watches three live streaming videos on your channel, he/she will be charged only for those three videos instead of getting charged for all the content.
Pro Tip: Always opt for a live streaming platform like Muvi Live that doesn’t share your revenue or have any constraints such as minimum views or subscribers to let you earn.
Brand Deals, Ads & Sponsorships
Brand deals & sponsorships are another effective way when it comes to earning from live streaming content. If you have a large base of fan followers or good and relevant content, then various brands are likely to offer you brand deals and sponsorship opportunities. Also, you can approach them to collaborate. And you can easily earn through such deals by-
- Creating fully sponsored live streaming content
- Displaying advertisements about the brand during live streaming or on other channel pages
Remember, the brand deals should be aligned with your content and the preferences of the viewers and must not be too off-topic or should not seem like just to earn.
However, by creating more quality live streaming content with high viewers engagement, you can get more such deals and can earn even more apart from earning directly from live streaming.
Pro Tip: Go for a live streaming platform like Muvi Live that not only lets you place advertisements inside your live stream, but also allows you to configure the ads, such as, before, after, or during the live streaming.
Online Courses and Tutorials
No matter what your niche is, you can always come up with online tutorials or courses to earn even more from your live streaming business. Some ideas you can implement-
- General online paid courses
- Pay per view online tutorials
- One-to-one lessons/tutorials
- Courses for different viewers with ascending tiers and respective livestream prices
Also Read: How to Live Stream from Apple iPhones?
With the growing adoption of affiliate marketing, affiliate sales have become a trending way to earn through your live streaming. Affiliate marketing is basically an advertising model in which a company pays you to advertise their products and services and generate sales. For instance, you can insert the specific purchase link or coupon code during your live stream or in the description. So that, every time a viewer makes a purchase using the link or coupon code, you get to earn a commission. However, the products for affiliate sales must be relevant to your content or else there is less probability that your viewers will purchase, and too much irrelevant marketing of other products can also result in losing your customers. So, your content must be your first priority.
Fan donations can be another way to earn through live streaming provided it is conducted for the right purpose or something your viewers can relate to. Most of the top-rated live streaming platforms like Muvi Live lets you implement it easily where your audience can donate by making payment of their choices, purchasing gifts/coins of different values etc. Space Lyon’s US $10,000 donation collection while playing Fortnite, Dr. Lupo’s US $1,000,000 donation collection during live streaming for cancer research, and Exotic Chaotic’s US $75,000 donation collection while live streaming are some of the vivid examples of how effective the fan donations can be. And you should always keep the provision for one no matter what type of content you are live streaming.
Creating and selling your own merchandise while live streaming can work wonders in earning additional revenue if planned right. Always keep in mind-
- The merchandise should be relevant to your content
- The price should not be too high or low to convey their right values
- All the audience are likely to have some interest in it and not just any specific age group or customers from the specific demographics
- Focus on the most popular or mostly-watched content and come up with more relevant merchandise for better sales
Start Live Streaming with Muvi Live
The live streaming industry holds unlimited potential around the world and no matter what type of content you live stream, there are always many ways to excel in it and earn from it. By keeping the above pointers in your mind, you can easily start earning from your own live streaming. All you need to do is choose a robust live streaming platform that offers all the above-mentioned solutions to let you earn in a hassle free way.
With Muvi Live you can launch your own enterprise-grade live streaming platform and start earning from it through all the ways as mentioned above. Furthermore, you get the feature-packed solutions such as ultra low latency live streaming, mobile live streaming, live streams recording, and social media integration, to name a few.
Take a 14-day free trial now and start earning from your live streaming (no credit card needed)!