Gaming is no longer the only way to watch live streaming.
According to research, the live streaming business will be valued at over $247 billion by 2027, and 47% of consumers are streaming more live video material than they were last year.
It’s a goldmine for monetization! So, if you’re looking for a way to monetize your live content, look no further…
You’ve arrived at the right location.
There are five different ways to earn payment for live video streaming:
How to make money from live streaming In 2022, here are the 5 most profitable ways to make money from live streaming.
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Create a Live Streaming Platform of Your Own
Having your own platform is the most profitable approach to making money from live streams. A separate live streaming service, such as the one we provide here at webnexs!
This is a platform where you can do the following:
- Your live feeds will be posted here.
- Real-time interaction with your audience (with features like stickers and super chat).
- Charge a subscription charge on a monthly basis.
- Take command of your marketing.
- 100% of your earnings are yours to keep (accepts Paypal, credit cards, and worldwide currencies).
Basically, you get your own premium live streaming website created around your content that is entirely branded. It’s your content, so do it your way!
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Make and sell your own branded merchandise
Making your own products is a great method to earn money from your live stream viewers. You have an infinite amount of things to sell!
Here are some starting points:
- Tee shirts, cups, hats, and other merchandise are available.
- E-books, print books, and physical manuals are all examples of books.
- Tutorials, downloadable manuals, and other digital products
- Gaming controllers, vinyl, signed copies, and other industry-specific items
Your specialization will determine the type of goods you offer. It must be relevant to your target market and organization.
It is possible for you to branch out into other information items, such as…
ebooks, courses, webinars, membership sites, and so on… That usually simply necessitates some time and expense in the overall design.
Making tangible things from scratch will involve a larger financial investment, but it will also result in a larger revenue stream, as you will keep 100% of the profits.
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Locate a Stream Sponsorship
Sponsorships, also known as partnerships, are a lucrative way to monetize your live stream video content.
You’ll receive sponsorships for the content you provide for your live stream in exchange for shout-outs during your broadcast.
Generally, they correspond to the time when:
- Bring up the sponsorship.
- Describe their product.
- Please provide a brief personal testimony.
Sponsors typically pay anywhere from $15 to $50 per 1000 views. (In the industry, this is referred to as CPM, or clicks per minute.)
This means that if your streams have 5000+ views on a regular basis, you can make a decent living.
However…
Sponsors typically work with high-profile streamers who can guarantee tens of thousands of views per video. It’s hardly worth their time otherwise.
In addition, the following aspects must be taken into the record:
- Sponsors will want to have a say in the content you provide.
- You could lose subscribers if you choose the incorrect sponsor.
- You want to work with reputable brands that sell products that are related to your live stream content.
Remember to consider how this may affect your content as well as your subscription base!
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Make a Patreon Pledge Request
Live broadcasts can be monetized through Patreon.
You can ask for monthly “pledges” on their platform, which provide users with premium features. Each subsequent tier increases the value of the previous one.
Consider the following example from YouTuber Patrick (H) Willems:
Patrick has two subscription options for his audience, each costing $2 or $4 each month. They can acquire the following items depending on the tier they choose:
- Exclusive live feeds are available.
- A video credits them.
- A panel from a hand-drawn comic.
- Officially licensed items.
All that is required of the subscriber is to select a tier and make a financial commitment.
Patreon pages are simple to set up and generate money from within hours if you have a large enough following. However, I must caution you…
There is no official figure for a Patreon user’s average revenue. Even if few users earn $50,000 or more every month, this isn’t the norm.
According to reports, just about 2% of users earn enough money to live on the network. According to Patreon’s CEO, just 4300 people earn $1,000 or more per month.
If you don’t feel ready to establish your own platform, I propose using Patreon as a supplement and combining it with other alternatives on this list.
If you’re considering using Patreon to monetize your audience, be sure to read our blog post on Patreon alternatives.
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Participate in an Affiliate Program
The final approach to making money from live streaming is to become an affiliate.
Affiliates are people who earn money by promoting a product or service – usually through a link or a referral code. Usually, it’s between 5% and 30% of the wholesale.
Because affiliate programs are low-risk, they are a fantastic place to start earning. Your subscribers will appreciate hearing about these products as long as they are relevant to them.
Use the following strategies to hunt for affiliate opportunities:
Taking advantage of Amazon’s Associate program
Connect with brands in your niche.
Googling a brand name and adding “+ affiliate” to the end.
This method is used by a lot of firms, and it’s one we encourage video business owners who want to market their platform.
Profits will be smaller if you use this strategy because it is not a consistent source of revenue. It can, however, be a fun way to make money from your live feeds.
The best option on this list is to create your own platform. You can make the most money, have complete creative control, and future-proof your live stream content and business.
