Some people say that internet is a place which has given birth to many weird things. In many aspects, it is true. More often than not, we fail to realize that internet is also a place to make tons of money. And people who know how to make BIG money are already busy meeting their monthly financial goals.
When we talk about money through online platforms the first thing that comes to your mind is a blog, right? However, there is something even better which people are using these days and that is vlog or video streaming app.
Anyone would love to watch a video any given day than sit and read an entire draft or thoughts of another person. This is why all sorts of videos go viral and the creator of the videos gets all the cash. For instance, the Hindi version of the popular song ‘Cheap Thrills’ got an insane number of views. Just like this, a Korean teenager is making money by just sitting in front of his TV and eating. People all over Korea tune in daily to watch him eat to its heart content
Reasons for Broadcasting Live Videos:
We now know that streaming live video does help in making tremendous amount of money. It does not take a lot of talent to create a specific type of video and this is why many people prefer sitting on their couches in the living room to make money. Moreover, money is being earned legally.
Some people do it for their own personal satisfaction. Others do it to either voice their opinions on a matter or to express their creativity. There are two ways to start making money online with a live video broadcast.
- You create your own video streaming app/website.
- You can simply start posting videos or stream live videos in your leisure time on a well-established website.
Many youngsters are sticking with the second option because they do not have to go in the details of creating an online video streaming website. One such popular website where you can simply stream live videos and start making money with a few clicks is YouNow.
It was established in 2001 and has a huge traffic base. Approximately, 75% of the traffic of the website is between the ages of 14-24 and 56% of them are female. Every day, around 150,000 videos go live and people tune in from across the globe to watch them.
Along with the people who are streaming the live videos, the company also gets its share.
Apart from this, there are other websites as well which are monetizing the power of live video streaming. These include Fanify and AfreecaTV. All of them have their own niche of visitors that put any competition amongst the sites at rest.
Making Money in Real-time with Your Own Website:
However, many people want to start their own live streaming video website so as to leverage all the money they make. Also, a company might want to create its own website to broadcast videos of how things are created before they are dispatched or to simply share some information. Webinars and informative live video streaming apps are also becoming popular these days. When it comes to certain topics, videos or streaming a live video is much better than writing long pages explaining its nuances.
This is why people are either looking for podcasts or live videos to learn things. The added advantage of a live video is that it can be used to ask questions on the spot through the comments section.
If you have already thought about creating a live video streaming website, then you can either hire developers for the task or get started on your own. There are various turnkey software that shall help you create a live streaming video website. One such robust turnkey software that can help you in putting together a good live video streaming website is Streamhash.
Monetizing your Live Videos:
Coming to the most important question! You have created your own website to stream live videos but how to you monetize it effectively? There are several ways to do it, some direct and others indirect. Some common ways are:
- Pay per view live broadcasting
- Asking your viewers to subscribe to your website to view the videos
- Get in touch with sponsors who like your video content.
- Use crowdfunding to ask people to help create content for your website.
Let us explore each of the above-mentioned ways in detail so that you know where you will be getting your money from in case you start streaming live videos.
- Pay per view and subscription: This is the most common and the simplest way to make money. You should simply ask your viewers to pay for what they are watching. Few of the live video streaming websites have a paywall option. A paywall is the arrangement or process in which a viewer is given various options for paying for accessing your live broadcasts or even uploaded videos. While only some of the live video streaming website work on Pay per view basis, there are others like Netflix and Amazon which have opted for subscription basis. They are even giving away first month of free viewing in order to attract more customers. However, you will have to maintain a regular base of viewers if you want to monetize your live streaming videos in this manner. When it comes to faster returns on your videos, these two methods should be on your top priority list.
- Advertising and Sponsorship: These are the methods which have existed long before the internet was born. Advertisements are a great way to earn money. When you have a strong base of viewers for every single video of yours, various companies shall pay you to display their ad on your website. You can either play it before a video or below your live broadcast. In any way, you will be monetizing your live streaming videos in an efficient manner.
Another way to earn money through your live broadcasts is to get a sponsor who will back up all your videos. Sponsorship is an indirect way of advertising as you will be endorsing the company which will back up your videos.
- Getting traffic for your website: Once you have created your live video streaming app or website, the next important thing is viewers. You won’t be able to make money unless people are watching what you are broadcasting and in order to achieve millions of viewers for a single live video, you will have to get traffic to your website. Now, if you were just uploading or streaming videos on a well-established website like AfreecaTV, you wouldn’t have to worry about the traffic. But, when you make your own website, you will have to certainly put in extra efforts to get people tune in your website.
In order to do this, you can use the given tricks of the book like a search engine optimization or ask a well-established vlogger to endorse or advertise you.
- Crowdfunding: This is a recent way to monetize your live videos. Unlike all the other ways mentioned above, crowdfunding is very different. If you are working on a project and are in need of a funding to take it further, then you can stream videos regarding it and ask the viewers to make donations. Websites like Kickstarter, Indiegogo and Patreon are few of the websites which enable this type of method so that their users can earn money.
This method is not limited to asking for donations only. You can even reward the people who donate to your live streaming videos by offering products such as already uploaded video for download or accessories or anything that comes to your mind. This way, you can increase the number of donations you get for your broadcasting efforts.
When it comes to making money online, the ideas are available in plenty. People who really want to make money will get creative and that is what matters. If you have an idea that will either make people laugh or educate them in any manner, then there is no better medium than a live video streaming app or website to put it up.
As mentioned above, with websites offering video scripts to create your own live video streaming website, you just have to work on the idea and put in few hours to get your website ready. Initially, it will take time to generate money but gradually, when you have put enough videos and advertised your website properly, money will start flowing in.
Streamhash is the place where you need to start your website and it gives you all the right tools, right from distinct themes to easy interface. It is also affordable and won’t take much of your time. So, if you have wanted to work on a video streaming website, the time to start is NOW.
If you have any concerns or doubts, feel free to drop a line or two in the comments section. I shall reply in a day or two. By the way, Streamhash has got a highly supportive staff. Do not hesitate to accost them for assistance. My best wishes are with your live streaming venture. Cheers!