There is so much to live-streaming that a majority of people don’t understand. Most people understand live streaming as the act of playing video games online and inviting people to watch. While there is a lot of that going on, there is so much to live streaming than meets the eye. For many people especially millennials, live streaming is more than just a hobby. It is a genuine revenue stream such that some people consider it their day job. In this age and time, live-streaming has gained so much popularity that even businesses are relying on it for audience engagement.
If you are thinking about starting your own live-streaming channel or already have one but want to expand, then you should learn all about live-streaming and how it works. Thanks to interactive live-streaming platforms like Tango, it’s very easy to create your own channel and monetize it in the process.
First thing is first, you need to understand what the big deal is about live streaming and why so many people and businesses seem to be leaning on it for profit.
What is Live-streaming?
Live-streaming is a process of uploading video content over the internet in real-time, using devices such as a webcam, smartphone, or a camera that has been hooked to a computer. This makes it easy to stream content to a channel or a platform where your audience gets to tune in live.
While live-streaming has grown in popularity among millennials, it is not just a reserve of millennials. It is a great way to showcase live events and conferences, new product launches, FAQs, Q&As, tutorials, influencer partnerships, and product endorsements. You can build a great brand through live-streaming, as long as you use the right platform.
Additionally, live-streaming continues to grow because it makes it easy to connect with followers in a genuine way that involves more than just posting a pre-recorded video or responding to audience comments. A majority of celebrities and influencers alike use live-streams on platforms such as Tango, Snapchat, Instagram, and more to form closer connections with their fans and even go as far as offering personal live-streams as rewards for either engaging in a campaign or a contest.
Whether you are doing it for fun, or are just having fun with your friends, live-streaming makes for a great way to humanize yourself and connect with your audience.
How to Stream for Hours on End
Most live-streams go for a few minutes to an hour at most. But what if you have always wanted to live-stream to your audience for hours? Whether you are playing a video game or are just streaming a 'day in the life of' video to your adoring fans, you need to prepare for long streaming hours.
Make it a show
Rather than streaming the same thing for hours on end or playing a game for more than 3 hours, you can break your live-stream into segments. For instance, you could incorporate, challenges, giveaways, a dance routine, or a quiz show. You could also set up a discussion on what you are streaming about or the video that you are playing.
Add value to what you are doing
When it comes to long hours of streaming, it is important to keep your fans entertained since at the end of the day, they are investing their time on you.
One way you can do this is by showing your viewers that there is a reason why you are doing what you are doing. For instance, you could add value to your stream by supporting a charity, in which case you will end up attracting new viewers who are looking to rally behind somebody who is live-streaming for a good cause.
Don’t be afraid to take breaks
If for instance, you have decided to challenge yourself with a 24-hour live stream, then taking well-deserved breaks will help you to keep going. You can take a break to have a snack or water to keep you energized. You can take a 15-minute break for instance, during which you can leave your audience to play a mini-game or to answer open-ended questions until you return.
Live-streaming for a Living
Contrary to popular belief, live-streaming is not just a way for millennials to remain relevant but a good number of people have turned it into their main source of income.
Running ads during the live stream
Ads have found their way into live-streams as well and it is a great way to make money. On most platforms, the revenue is calculated depending on how many people see the ad. If you have a lot of followers and tend to stream good content, this is one thing you can take advantage of and make money from in the process.
Through fan donations
Today, it is no surprise to see viewers donating money to live performers. This has changed the way of live-streaming to become a portal for viewers to support their favorite live streamers. This is a great revenue model for those who love to create music, art, or any other creative asset online and through videos.
Through pay-per-view or subscriptions
This type of model works by allowing fans to unlock access to special content during live streaming by paying a certain amount. This content is usually unique and most of the time worth paying for. Additionally, subscriptions also give users full access to exclusive content for a certain period.
Affiliate programs have been working for bloggers and today live-streamers can also reap the benefits. The way affiliate programs work is that you get a special link to a product from a sponsor or a promo code and you get paid a certain percentage once someone clicks on the link and makes a purchase.
Brand sponsorships and deals
For content creators, the greatest honor is striking a deal with a major company. Even better, most companies prefer live-streaming because the ads feel more trustworthy. How much money you made through ad sponsorships, depends on how many people follow you as well as the brand. You can, however, get free products from the company even when you don’t make a significant amount of money.
Pros and Cons of Live-streaming for a Living
If you are thinking about starting a live-stream so that you can earn money doing what you love, here are the advantages and disadvantages that you need to be aware of:
When done right, live-streaming can shoot you into the spotlight, so much so that you can make it your primary source of income or use it to launch yourself into an entirely new career.
You can use live-streaming to start a profitable business, such as tutorials, live classes, educational videos, and DIY crafts which you can use to gain a following or make money.
Live-streaming for a living is a great way to develop personal relationships, like when you live stream personal achievements or moments, like a graduation or a wedding.
In case of an event, such live streaming needs hard work, resources, and a plan all of which if not done right can end up ruining your reputation or that of the company you are trying to promote.
If you are streaming an event that is meant primarily for an online audience, if you don’t advertise well, then this could lead to considerable losses.
The internet has made it possible for anyone to create a live stream which means that you will be competing with other people some of whom have better content than you. In such a case, it is not guaranteed that an unsatisfied audience will come back to your live stream.
Live-streaming has changed the way businesses and individuals make a mark in the world. As long as you know how to do it, you can start your own live-stream on any platform and earn in the process.