Live How can I just make money
Earn money with livestreams? It is possible on these platforms
The corona crisis has robbed many musicians of their main source of income: live concerts. One possible way out are platforms on which online concerts can be monetized. In this article we will introduce the different options.
During the corona crisis, many musicians organized live streams, which received a great response from their fans. Participation in Instagram live videos rose by 70 percent from February to March.
How do you feel about live streaming? Tell us in our survey!
It is well known that it is not as easy to make money with livestreams as with normal concerts. Nevertheless, there are various forms of monetization, which we have summarized here in an overview of the platforms that allow payments for live streams.
Basically, a distinction must be made between platforms where you have to purchase a ticket in advance in order to take part in an online event, and those where you can send financial donations to the artist (s) on a voluntary basis during a live stream.
And then there is YouTube, which is a world of its own with a lot of rules and high requirements in terms of monetization.
Strict rules on YouTube
Monetizing live streams on YouTube used to be very easy; however, the process is now much more complicated. To make money with livestreams, you must first apply to the YouTube affiliate program, which has strict requirements:
Among other things, the user's account must have at least 1,000 subscribers and be able to show a valid playback time of at least 4,000 hours in the last 12 months in order to be eligible for the program.
Then the account is checked and only then are six monetization functions activated:
- Income from advertising,
- paid channel memberships,
- a merchandise area,
- the super chat and super sticker functions in live streams and
- a share in the turnover generated by YouTube premium users.
For each of these functions, special requirements must be met - in addition to the minimum requirements for the number of subscribers and the number of calls.
Facebook, ticketing and more
Since August, the operators of official Facebook pages have been able to create events that are only accessible through payment.
A button then appears on the Facebook event page, which you can use to pay directly in the app and then take part in the live event. Thus, artists, companies, teachers and many other users can create, promote, sell and organize events.
New functions in Facebook Events, © Facebook
Similar to Facebook, various other providers also offer the option of controlling and monetizing the "entry" to a virtual show. Companies such as reservix, StageIt or Stagetasy not only enable ticketing options, but also offer users the platform for live streaming at the same time.
Hearts on Instagram
Instagram is testing a payment program that is currently only available in some countries (including the USA, Great Britain, Germany and France) and for some users who applied for a test in April. Users can acquire the so-called “Instagram badges” in live streams. 100% of the income should be paid directly to the creators.
Viewers can buy special hearts and like buttons in three categories for these live streams. This also highlights their comments, which increases the chance of direct interaction with the artist. So far, the price categories are only available in dollar amounts, with one heart priced at $ 0.99, two hearts priced at $ 1.99, and three hearts priced at $ 4.99
In addition to the name of the buyer, the number of hearts bought appears, which can also provoke competition between fans and thus generate more sales for the artist.
Since the beginning of April it has also been possible to place sponsored content in IGTV videos in order to be able to earn money.
Other providers with financial donations
Amazon Music / Twitch: Amazon Music has been cooperating with the streaming platform Twitch, which is particularly popular with gamers, for some time. Recently, fans have had the opportunity to watch live streams of their favorite artists directly via the Amazon Music app.
The artists can receive a kind of “tip” if they are registered on Twitch. The fans buy so-called “bits”, which, like the Instagram batches, activate special emoticons and comment functions. The artist receives one cent for each “bit”, the sales categories start at 100 bits for € 1.47. It is also possible to place advertisements here.
Periscope:The platform, which is part of Twitter, offers a “tip” function, where viewers can also pay with hearts that they can buy on Periscope.
Expensive models at Vimeo
With a premium membership for € 70 per month you can host unlimited live streams and publish them on Facebook, YouTube, LinkedIn, Twitter and Pinterest with one click. There is no direct payment for these live streams, but fans can buy exclusive videos.
Alternatively, you can create a subscription channel for which you pay $ 1 per subscriber per month or $ 500 per month, depending on the plan you choose. Live streaming is also possible here.
Special cases and unfinished
Patreon: The website enables fans to specifically support artists. Fans pay monthly fees for membership on Patreon in order to get access to exclusive content from the artists. This gives them a monthly income.
How do you feel about live streaming? Tell us in our survey!
Spotify: At the end of August, screenshots appeared indicating a new live streaming feature on Spotify. The Swedish company, which is usually silent, has not yet officially confirmed that it will offer such a function in the future.
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