“In the age of streaming, the possibilities for creators to make money are endless.”
In today’s digital world, creators use live streaming to engage with fans in real time. And because it is becoming more popular every day, there are tons of opportunities for monetization. You can use it for education, entertainment, or just about anything! So if you’re looking for ways to make some extra cash from your live streams, then keep reading!
News organizations, sports leagues, and colleges pioneered live streaming to distribute their services online. It eventually became available to anyone who wanted to share their life with others while doing something ordinary or extraordinary. One of the online studies shows that in the US, the average viewer spends at least one hour per week watching live streams. Also, around 25.4 minutes are spent watching live video per session, compared to around 19 minutes watching video on demand. Source: Conviva State of Streaming 2021
Why Live Streaming Is Great for Creators
Everyone can now go live on social media platforms, which is fantastic. But are you making the most of this powerful tool? Influential creators use live streams to reap numerous benefits. Aside from the obvious advantages of immediate engagement, interactivity, and elevated visibility, live streaming can help you do the following:
Build Your Brand
Live streaming gives you the opportunity for direct interaction with your followers and fans which helps you build relationships with them and get immediate feedback.
Create A Community
When you go live on your FANCLB you’ll have people watching all at once. This means they can talk to each other while watching the stream together. This also gives them an opportunity to interact with each other and share ideas as they watch together on their own devices.
Announce New Digital Content And Products
This actually has multiple benefits. On one side, you are taking advantage of direct interaction to understand what your fans are looking for. At the same time, you are building the hype and promoting your future content.
Collaborate With Other Creators
Connections are important when trying to create content that has longevity so networking is key here! Going live with other influential creators with similar audiences will help you grow your superfans faster than working alone. It will also bring a new perspective to your content.
There are many ways to monetize your live streams, and the key is to find what works best for your audience. Let’s explore a few ideas.
8 Live Streaming Monetization Ideas That Work For Creators
- Tip Jar and Gifts
FANCLB enables you to accept tips and donations directly from superfans who would like to support your work in the form of digital gifts. These gifts can be purchased during your live streams using credit cards or crypto in a seamless experience without leaving your FANCLB.
When you set up your membership tiers on FANCLB, make sure to include access to live streams as one of your selling features. Allowing your superfans to watch these live streams as part of their membership keeps them in the VIP zone.
- Sell Tickets
Every time you go live on your FANCLB you can sell the tickets to nonmembers. If you are wondering, 45% of people would pay to watch live streams from their favorite team or performers. Source: Livestream
- Livestream Your Concerts
Through your FANCLB, you can sell event tickets directly to your fans. Those who are unable to attend your concerts can now watch you perform live. Promoting these events beforehand helps generate excitement. Promoting them afterward too, because sometimes viewers might not know how interesting something really is until after they watch it firsthand.
- Promote Affiliate Products
If you use products or services that you believe in, you can earn a commission by promoting them, while also sharing valuable information with your fans.
- Host Sponsored Streams
Live streaming can be a great way to showcase your talent and attract sponsors. Many brands are looking for influential creators to promote their products and services. This might involve showcasing a new product, hosting a Q&A with the brand, or creating branded content for the live stream. If done right, it can be extremely lucrative for both you and the brands. The end result could potentially lead to a long-term relationship resulting in a consistent paycheck.
- Hosting Giveaways And Contests
Contests and giving away prizes are generally a good idea to attract a new audience and keep current fans engaged. This will entice everybody to watch your live stream till the end, or even come back again next week to see the results.
- Merchandise Sales
First off, you can actually create your own branded merchandise on FANCLB. It is as simple as choosing products and adding your design. That’s right! Second, you can create a full-on merchandise page on your FANCLB to boost your total earnings. Last but not least, you can link your merchandise to your live streams so your audience can buy it through an awesome experience while they are watching you live. You can even offer discounts during your livestream. (Just think about how many times someone would be willing to pay $15–$20 just so they could show off something cool.)
There are many other ways that creators can monetize their live streams, and the key is to find what works best for their audience and their content. With a little creativity and engagement, you can turn your live streams into a successful and lucrative part of your online presence. Finally, live streaming from your FANCLB enables you to:
- Connect and engage directly with the audience
- Accept tips and gifts from superfans who want to support your work
- Sell and promote your merchandise in unique experiences
- Announce and promote new exclusive content and behind-the-scenes
- Promote sponsors and affiliate products
- Have powerful and useful analytics that can attract more sponsors and brands
On top of that, all the funds are directly deposited into the bank account you linked to your FANCLB, and we don’t touch your money!