Live streaming is the broadcasting of a performance or presentation over the internet via live video. Unlike pre-recorded videos, live streams cannot be edited. They are broadcast in real time, live and uncensored. An important feature of live broadcasts is the presence of a chat room or live chat, which allows users to interact directly with their viewers on air.
If you want to diversify your revenue models, monetizing your live streams, like on TikTok, could be a great opportunity for you. Fortunately, it’s not as difficult as you might think. In fact, you don’t even need to go anywhere or bother with any equipment. You can reach a wide audience without leaving your chair.
If you put in the work, if you are consistent and engage with your fans in a genuine way, the money will come. Maybe not immediately, but it will come.
Apps Like TikTok to Earn Money
YouTube
Can you monetize live streams with the YouTube app? Yes, but here’s a word of warning: it won’t be easy and probably won’t happen right away. To make money with AdSense and Super Chat, you need to monetize your channel. Super Chat is a digital tip that your fans can donate to you during your live stream.
To bring your channel to monetization, you need at least 1000 subscribers and 4000 hours of watch time. You also need to create and connect an AdSense account for your YouTube channel.
If you already have a monetized channel, you might already be receiving AdSense revenue for your videos. You can also monetize your live streams in the same way. You can also enable Super Chat (if you are in a country where Super Chat is supported) and receive Super Chat donations made by your fans during your broadcast along with your AdSense revenue.
Over the last few years, we’ve all seen the organic reach of posts on our Facebook pages crumble. Currently, only about 4% of people who like the Facebook page see your posts. But rumor has it that Facebook is now focusing on video and live streaming (see recent changes). Presumably Mark Zuckerberg has his eye on the throne of YouTube and Periscope.
Like YouTube, you can monetize your Facebook page for video ads. The main difference is that on Facebook ads appear in the middle of your video, while on YouTube they appear at the beginning (unless your video is very long). You can apply to Facebook for this feature, but the criteria is a bit tricky. You need to have more than 10,000 followers and more than 30,000 views on your videos in the last 2 months.
If you want to start monetizing your Facebook live streams, the easiest way is to add a virtual tip box to the description and first comment. You can create a virtual tip box on PayPal by creating a link www.paypal.me. If you are going to use the virtual tip box option, make sure to let your viewers know about it.
Bigo Live
With over 400 million users, Bigo Live is a popular platform for watching and broadcasting live streams. In addition to the joy of live streaming, Bigo Live is also used to make new friends and relieve boredom. It is also a suitable application for broadcasters who want to turn their talents into monetization.
With Bigo Live, broadcasters earn commission after reaching their monthly goals by broadcasting live through the application. This commission is determined by factors such as content, number of followers and duration of broadcast. It is known that Bigo Live broadcasters in most countries of the world earn 5,000 dollars per month.
Another way to make money with the app is to monetize virtual gifts (just like TikTok Live). If you are a popular streamer, your followers send you virtual gifts. These gifts you collect can then be turned into ‘beans’. The more popular you become, the more beans you earn. Finally, you can convert these beans into real money, which the app deposits into your account. At the current exchange rate, 210 beans = 1$.
Twitch
Twitch is a gamer-oriented live streaming platform. But recently, many musicians have also started to flock to Twitch. You can be one of them, too. The reason we’re covering this platform in particular is that you can start earning money from your viewers right away with virtual gifts called “Bits”. You can get paid when your accumulated Bits reach a value of 100 dollars.
Twitch is a huge platform, and some popular streamers can make really big money. However, if you want to get a foothold on this platform, especially as a musician, the competition can be a bit brutal. At this point, you have to be persistent and have a structure that can withstand all kinds of negativity. If you are thinking of making money by live streaming, we recommend that you keep this information in mind.
Some Tricks to Make Money with Live Streaming
Half of the internet runs on advertising revenue, including Google services and Facebook. So why shouldn’t you take advantage of this? By joining the right platform or social network, you can generate good advertising revenue.
When you start streaming live video on certain platforms like YouTube or Facebook, you can take advantage of their advertising programs. Here are the different types of in-stream ads that are usually available:
- Pop-up ads: These ads play as soon as a viewer clicks on your stream. They have to watch the ad before they start watching your content.
- Interstitial ads: Interstitial ads play in the middle of your live stream. The ad takes up most of the screen while your broadcast continues in a smaller window.
- Banner and overlay ads: These types of ads usually pop up as banners or small cards on top of your stream.
If you want to monetize with advertising, join these platforms:
- YouTube: YouTube offers pop-up ads, interstitials, as well as banner and overlay ads.
- Facebook: Facebook offers interstitials if you meet their viewership criteria.
- Twitch: Twitch offers in-stream ads as well as banner and native advertising opportunities.
Advertising on air is a popular topic and the focus of much debate. Try to maintain as much control as possible over the ads that appear during your live broadcasts or on your channel. Also keep in mind that viewers can use ad blocking software to prevent some ads from being shown. So using ads as the only way to monetize live streaming may not be the best idea.
