8 Ways to Make Money Live Streaming
The number of people watching live stream videos continues to increase, making it a goldmine for monetization. However, there’s a lot to do before you get paid to stream. While streaming is potentially lucrative, only a small fraction of live streamers become rich from their endeavors. It takes providing real value to your audiences and streaming videos that people want to watch.
We recommend proper infrastructure and an OTT solution to take advantage of your streaming income sources. This is precisely what Nunchee offers for those looking to make money live streaming. Our platform allows you to provide the best live stream video experience across all devices used by your audiences. Below is a brief look at eight ways to get paid live streaming videos.
Getting a donation from your audience is a clear indication you should take live streaming seriously as an income stream. Most streaming platforms, including YouTube, Twitch, Facebook, Mixer and DLive, have integrated systems and services users can use to donate. Some, such as Twitch, have a token, which refers to a unique currency your audiences can use to donate to your site.
Donations are from people that appreciate what you are doing and want to support you, so integrating systems that allow your audiences to show their support for the live streaming venture. Nunchee provides a fully automated SaaS platform with features to help you receive donations from sponsors and your live streaming audience.
Tipping in live streaming audience works in the same way as restaurants and other service sectors. In hotels, if a guest is impressed by the hospitality service provided, it is common to give a tip to the person that did the service or the organization. In the same way, audiences that love your videos will feel the urge to show their gratitude.
Tips are different from donations, as they are from fans that you impress with your videos. You can always ask for donations to invest in the live streaming business, but tips are given on merit of content you have already produced. With Nunchee, you can create branded apps complete with infrastructure that allows your audience to leave tips.
3. Recurring Payments
Also known as subscriptions or membership, recurring payments offer a more stable source of streaming income you can depend on. Live streaming platforms have systems that allow your audience to opt into recurring subscriptions and membership programs that require regular payments. YouTube has channel membership, while Twitch allows paid subscriptions. Nunchee, on the other hand, allows you to monetize your video content and generate revenue from paid subscriptions using more than 100 currencies.
Your branded live streaming service will also be available on all screens, including smartphones, AppleTV, AndroidTV, Roku, FireTV and the web (YouTube, Facebook, etc.). Getting recurring payment is the equivalent of having loyal customers that come to your business for their recurring needs and is the goal of most, if not all, for-profit ventures.
4. Third-Party Platforms
We don’t recommend relying on the live streaming platform for all your revenue. You can generate live streaming income from several platforms, including third parties. Essentially, you want to identify third-party platforms with a growing reputation or one that is already successful. Nunchee allows the integration of various other applications and platforms to streamline revenue generation.
You can use third-parties for one-time donations, subscriptions and crowdfunding. However, you will need special content and rewards for those that decide to support your live streaming activity. There are several third-party platforms for OTT businesses, so make sure you find one that aligns with your values and business model.
5. Ad Revenue
Revenue from ads fuels more than half the internet, including powerhouses, such as Google and Facebook. Targeting ad revenue is one of the best ways to make money live streaming and many people monetize their videos using ads. However, you should find the right live streaming platform as some do not offer ads.
Live streamers generate ad revenue by incorporate adverts in their content. The more views and clicks the ad gets, the higher commission you get, although the model is a bit more complex than that. With the right content and ads, you can quickly optimize revenue from advertising. This is what we offer with Nunchee, as you can run advertisements through banners, pre-rolls and post-rolls.
This is one of the highlights of success in live streaming. Sponsorships from big brands and other businesses offer a mutual arrangement that allows you to create unique content that promotes a given brand or line of products. For instance, if you live stream music lessons and studio sessions, you can partner with microphone and studio equipment brands by simply recommending their products to your audience.
There are different types of sponsorships, but most work around the same concept. Essentially, you get sponsored by another business to market their products to your audience. The sponsor can provide finance, free samples and other resources, aiming to generate leads for their brand. You can achieve this with Nunchee, which also allows you to create a unique brand for your OTT live streaming business.
Affiliate programs involve promoting products from different brands and receiving commission whenever your efforts result in a payable action. You can find affiliate marketplaces that offer marketable products in all categories. Identify the products or brands you want to promote, get links and add them to your video and other content. You will get a commission every time someone clicks on the link.
In other cases, all you need is a unique promo code or coupon your audience can use when they make a purchase. Affiliate revenue requires a well-thought strategy for getting the right products and services to market. You should also choose trusted networks with a growing reputation. We only integrate with reliable, trustworthy networks.
If people are willing to pay money for your live stream videos, they can pay for other merchandise you provide. Think beyond the usual branded t-shirts and caps to provide something of value to your audience. You can start with simple-to-create, affordable merchandise like eBooks, special content and other digital products. The next step is to provide tangible goods that you can package, brand and ship to customers at exclusive rates.
Nunchee offers a fully integrated SaaS platform, so you can find sources for your merchandise and use third-party logistics to facilitate delivery. This means you don’t need to create a product. Simply find warehouses and brands that need a little help getting more customers for their products.
Nunchee Can Help You Make Money Live Streaming
Are you looking for a reliable solution for your OTT business? Nunchee has attractive streaming quotas and pricing to help you grow a profitable live streaming business. Our platform allows you to provide the best video experience for all your audiences across different streaming media, including Roku, Apple, Android and the web. You can launch your OTT business within 24 hours and create custom, branded applications for your audience. We also have a robust revenue infrastructure to maximize the sources of live streaming income. Contact us today to find out more about how to make money live streaming.