Live streaming is an excellent way to reach a wider audience and grow your brand. Large companies that sell tangible products can earn a significant profit from their product or service sales. But how about brands whose product is live video content?
As an online video creator, how can you earn from your live streams? It’s not rocket science, but it’s not a walk in the park either. In this article, we’ll share how you can make a decent amount by live streaming.
How to Make Money Streaming on YouTube
Placing ads is the most common way you can monetize your live stream. If you’re part of the YouTube Partner Program, you can connect your AdSense account to your YouTube account. YouTube will place ads within your streaming content, and you’ll be paid based on cost-per-view or cost-per-click. You can earn 55% of the total revenue generated. Typically, the charge is 18 cents per view—but a view will only count if the ad plays at least halfway through.
Serving ads is an easy way to earn money on your live stream. However, it does come with some drawbacks. For starters, you can’t choose which ads will appear on your stream. You can block ads from specific advertisers or certain categories, but you still can’t control which advertisers will be associated with your content.
Here are other less common ways to earn money live streaming on YouTube:
- Super sticker and super chats
- Paid subscriptions
- Merchandise sales
And here are other live streaming apps that pay you to stream if you don’t want to limit yourself to a single platform:
How to Make Money Streaming Video Games
Here are some proven ways how you can get paid to stream video games.
Running ads on your video is one of the most common to monetize your live stream. However, not all streaming platforms offer ads. You need to join the right social network or platform to start earning advertising money.
The most popular live streaming platforms that offer ads are:
- Twitch. It offers in-stream, display, and native ads.
- YouTube. It offers pre-roll, mid-roll, display, and overlay ads.
- Facebook. If you meet the criteria for viewership number, you are eligible to display mid-roll ads.
Most live streaming platforms have a donation or tipping service, which fans can use to tip their favorite streamers. These platforms typically have integrated services or their own “currencies” or “virtual goods” viewers can use to send tips.
Here are examples of tipping services used by some of the major platforms.
- Twitch. Twitch users use Bits, the platform’s virtual good, to cheer their favorite streamers. If you’re a Twitch partner or affiliate, you can earn around a cent for every Bit you receive.
- YouTube. Super Chat is YouTube’s primary tipping service. Viewers can use tips to pin comments or stickers on live streams. YouTube claims that over 90,000 channels are using Super Chat and that some streams are actually earning $400 per minute from it. In theory, you can earn more with Super Chat than Adsense if you have many diehard fans who are willing to send tips.
- Facebook. Facebook users can send stars to support live streamers. You can get a cent per star sent to you. However, you can only enable Stars if you’re part of Facebook’s Level Up program.
Another excellent way to earn money on your live streams is by offering paid membership or subscription to your most avid fans. However, you need to meet certain requirements to enable this kind of support from live streaming platforms.
Here are some platforms that offer this service to their content creators.
- Twitch. If you’re a Partner or Affiliate, you can earn from paid subscriptions on Twitch.
- YouTube. If your account is eligible, you can offer your viewers a paid subscription where they get to join your channel and see your exclusive videos for a monthly fee.
- Facebook. Facebook gaming creators, rejoice! Facebook just launched its Fans Subscriptions. However, to join, you must be a part of the Level Up program and have at least 250 returning weekly viewers. Its availability is also limited to certain regions, such as the UK, the US, Australia, Canada, Brazil, Mexico, and Thailand. But Facebook has plans to expand soon, so keep your eyes peeled for news about this.
You can also use a facilitating service, like Patreon, as your membership platform. It’s currently one of the biggest and most influential donation platforms. In fact, Patreon has paid out more than $5 million to their video creators to date.
Sounds like a sweet deal for sure. But that also means that you have to work extra hard to create more exciting streams, so you don’t lose your audience’s interest and trust.
Brand Deals and Sponsorships
If you’ve made a name for yourself and have a significant following in any live streaming platform, brands will likely reach out to you for a possible collaboration. If not, you can always do the reaching out. Either way, it’s a lucrative way to earn money live streaming.
In fact, Ninja, a prominent live game streamer, made waves back in 2019 when he was paid a whopping $1 million to play Apex Legends. But that isn’t your typical type of sponsorship.
Most sponsors pay between $15 to $50 per 1000 views. If you stream regularly and are able to rack up 5000 views or more, you can start earning some good money from there. It’s nowhere near Ninja’s paycheck, but it’s a start.
Live streaming offers you a new avenue for earning money while doing what you love. You can try one of the money-making methods we’ve shared—or all of them. You can also try them on different live streaming platforms simultaneously. Just remember to create content that people find interesting and will look forward to seeing.