Unless you’ve been living under a rock the past year or so, you’ll have heard how live streaming has taken over the entertainment industry. Whether people are sitting and playing video games to their foundation of loyal followers, or even sitting and chatting through an IRL section, live streaming is all the rage.
It’s important to note that even though the industry has cemented itself, anyone who tells you it’s now impossible to make a business in it, is telling a lie. There’s no telling who might become the next big thing, and the only way to find out for yourself is to try.
Today, we’re going to help you get the leg up and share with you four of the most popular and most tried and tested live streaming business models that can help you to earn your fortune online.
#1 – Paid Advertisements
Probably the easiest way to earn money through live streaming is to run advertisements on your live stream. This, of course, is only possible if you have enough followers and people tuning into your live stream to make it worth your while; easily a few thousand people per stream.
These ads will then be played at the beginning of your stream, and you’ll receive revenue based on your ad package. Another thing you can do is record your streams and then make highlight reels for platforms like YouTube. This way, you can then run ads on these videos to earn money on all hours of the day!
#2 – Donations
Another popular way to make money as a streamer is to accept donations from your viewers. These can vary in size, depending on whatever the viewer wants to donate. You can be streaming anything, or you can conduct a service for donations, such as giving the viewer a shout-out or doing something creative like releasing a balloon with their name on it.
While this may seem like an unstable form of income; which is it; remember that one streamer in South Korea once set the world record for receiving over $37,000 in donations in one night.
#3 – Premium Chat Features
While anybody can get involved and talk to a streamer through their chat, platforms like Twitch and YouTube are starting their own premium chat features which mean followers and viewers who are willing to pay for a better chat experience can.
#4 – Get Sponsored
Now, sponsorships are only going to come to streamers who have large followings of a certain audience. However, this is where a company or brand will approach you and ask to be your sponsor. If you accept, they’ll pay you money, and you’ll be an ambassador for their brand.
This is a great way to earn a stable income, just make sure you avoid getting involved in any controversies.
Otherwise, they could pull sponsorship and ruin your chances of getting another.
As you can see, there are lots of business models you can use to make money online, and there are plenty of ways not listed here, you just need to get creative with what you’re doing, and you’re going about it! Good luck!