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Live streaming isn’t just a place to share your passions and join a community of people with the same interests – it also offers streamers the opportunity to earn income. If you want to know how to make money streaming, here are our top 10 avenues for you to explore.
No matter how big your following or what you stream, a basic way to earn money live streaming is through donations from your viewers.
Some live streaming platforms offer built-in features for viewers to make donations. For example, viewers on Facebook Live can buy Stars. Meanwhile, depending on your region, viewers on Twitch can make donations in the form of Bits. You can also add a link to your Paypal or Buy Me A Coffee so that viewers can send you donations directly.
Many live streaming platforms offer eligible streamers and content creators different ways to earn money, including through unique creator-subscriber interactions. For example, Super Chat and Super Stickers in the YouTube Partner program allows viewers to purchase messages that stand out or are pinned to the top of the live chat feed. The bigger the purchase amount, the longer it stays on top. Creators receive 70% of the revenue made off this feature.
However, eligibility for these programs will vary. A key factor in how to make money on Twitch as an Affiliate is to reach 50 followers, eight hours of streaming, stream on seven different days, and reach an average of three viewers.
If you’ve joined a partnership or affiliate program, you can also earn a percentage of revenue from the ads run before, during, or after your live stream. You can even add overlay or display ads that appear over your screen as you stream.
However, there may be some eligibility requirements you need to meet before you can start getting a share of ads on your streaming platform. More importantly, platforms like YouTube may even demonetize certain content if they flag it as violating their guidelines – which can be quite strict, especially when it comes to playing copyrighted content.
If meeting eligibility criteria for ad revenue seems too difficult, another way to earn income is to look for brands and businesses who want to sponsor your live stream. In return, a brand may ask you to review their products and services, while others send a scripted ad read to include in your stream. This can be a lot less disruptive and distracting than paid ads.
You can also thank sponsors by displaying their logo throughout your live stream with a sponsor overlay, so that their brand gets the maximum exposure throughout your live stream.
You can reward the people who support you by offering early access to live streams, behind-the-scenes planning, running polls for your top donators to vote on your next talking points, and other forms of exclusive content. Platforms like Patreon also allow you to provide tiered content based on different levels of contributions. This makes your supporters feel like they’re a part of a special club, and incentivizes them to donate more – because the more they pay, the more special rewards they receive!
You can also earn a steady income from paid subscriptions to your streaming channel. The platform you choose can impact how much you earn from subscriptions. One thing to know about how to make money streaming on Twitch is that Affiliates can earn 50% of subscription fees. Meanwhile, you can start earning money from subscriptions on Kick without any prerequisites.
Always consider the revenue split and the requirements you have to meet before you are able to earn from subscriptions.
Affiliate marketing with companies that match your niche can be a great way to earn additional revenue in your live stream. Simply add an affiliate link as a widget on your stream or place the link in your profile. Every click and purchase a viewer makes through an affiliate link means a commission paid to you, and your viewer finds something new and useful!
However, you should only pick reputable affiliate programs that have clear commission rates and reliable tracking systems.
If you’ve built yourself a strong niche with a loyal following, your brand becomes very valuable to companies who want to appeal to your audience. This opens an opportunity to collaborate with companies to create exclusive products with your branding on it. In the past, live streamers have partnered with athleisure wear, food delivery apps, fashion brands, gaming gadgets, and more.
Merch should always be included in your plan on how to make money live streaming. Official merch allows your fans to show their support, spread awareness of your channel, and feel like a part of a community. Promote your merch launch date ahead of time during your live streams and on social media, and include links to your shopfront so people can place their orders as easily as possible.
You can keep things basic by adding branded logos or artwork to hoodies, mugs, t-shirts, and hats. However, it can also be great to release merch that’s directly related to what you stream about – for example, you might release an exclusive dice roller if you live stream DnD. Or, if you’re an art streamer, offer digital art that people can use as screensavers or backgrounds.
The key to making an income from live streaming is planning. If you make use of the right balance of money-making methods, you can turn your hobby into a solid side-hustle very quickly.
Check the metrics and data of each live stream to see where engagement is highest, and where viewers tend to drop off. This can tell you key information like whether ads are causing you to lose viewers, and also what to do to grow your audience. Don’t rely on just one way to make money, and always keep an eye on the costs involved in streaming so you have a realistic number of how much income you’re making.
If you’re looking for more tips on how to make money streaming, or how to get started with setting up a professional-looking live stream, come chat to our community on the official uno Discord.
