You may have heard of people making money by monetizing videos on YouTube and similar sites, but there is a new form of video that is allowing people to create an online job and make money online. Content creators are now broadcasting live video in order to express themselves, educate the public, show off their creativity, share their knowledge and make extra money.
If you’re wondering how exactly you can earn money broadcasting live video, there is no single answer. You can make money in a variety of ways with live video broadcasting. One way is to charge a fee for live streaming either directly through pay per view live broadcasts or subscriptions. It’s also possible to sell advertising and receive money indirectly from sponsors.
Another option is to start a crowdfunding campaign on a site like Krowdster to generate funds to produce live video broadcasts on certain topics.
There are pros and cons to all of the ways that you can earn money with live video broadcasting, and this guide will explain the benefits and drawbacks of each to help you find the best way to make money.
Pay Per View Broadcasting and Subscription Broadcasting
Direct monetizing of live video broadcasts is the easiest way to make money with your work. Basically, direct monetizing means that you charge people who want to watch your content a fee. Some video streaming services like the site DaCast have a paywall option that blocks access to the video and only allows paying viewers to watch it. You can also make use of a third-party service that is compatible with your streaming platform. An example is InPlayer, a widget that works with a number of popular platforms.
When you are deciding how to directly monetize your live videos with a paywall, there are two different ways to structure fees. One is to simply require a user to pay to watch the video live or to view a rebroadcast of the video for a certain period of time.
Another option is to offer a subscription, similar to what Netflix and Amazon Video do with their content. With a subscription, your viewers pay monthly or on another regularly set schedule to continue to receive access to all of the content that you produce.
You can set your subscribers up for automatic billing, so that they are automatically charged until they cancel the service. Creating a subscription-based service is one way entrepreneurs create recurring income, which leads to financial stability, success, and getting rich.
There are some benefits and some drawbacks to using a paywall for either pay per view or subscription direct monetization of live video broadcasts. The biggest benefit is that you can make money up front and on an ongoing basis in the case of subscriptions. Plus, your viewers won’t have to sit through ads or other promotional content to enjoy your work.
The biggest drawback to direct monetization is that you need to have a devoted fan base that is willing to pay a fee to see your videos. It’s likely that you will notice a drop in viewers when you begin charging for your content, limiting your ability to make money and to share your work with the world.
Another option to monetize a devoted fan base is selling swag, or products that bear your specific brand, name or logo. If you’re interested in creating and selling clothing you custom designed, we can recommend checking out Printful!
Advertising and Sponsors
Indirect monetization through ads and sponsorship is another way to earn money with live video broadcasting and is how most television stations pay for programming. With most advertising setups, an advertisement video will either play before your broadcast or a banner will appear while your video plays with advertising content on it.
Advertising is a great alternative to direct monetization for content producers who are worried about losing viewers due to pay per view and subscription pricing. Viewers don’t need to spend any money to watch your content. You can take a look on these two different monetization ways: Google Adsense and Affiliate marketing. These two monetization methods are simply ads that you can display on, or close to your live broadcasting videos.
On the negative side, ads can be distracting, particularly if they appear on the screen during the video. Another potential problem is that if advertisers don’t get any business from running ads on your broadcasts, they may be unwilling to continue to run ads on your videos. You may also need to have a large viewing audience for any company to consider buying advertising time on your broadcast.
Sponsorships are similar to advertising but instead of placing formal ads on your videos, the sponsor will ask you to sell their product for them informally. You may have to put a plug in for the product during your video broadcast or ask you to say that your show was sponsored by them. The benefits of sponsorship is similar to those of ads, and the downsides are virtually identical as well.
Using Videos to Promote a Website
Another way to monetize your live video broadcasts is to use your video as a way to bring traffic to a website. The site may have ads that allow you to make money, a subscription blog service, e-books for sale or even an e-commerce store that sells products and services.
With this type of video broadcast, your video is almost an add in and of itself in that it exists to promote your website. Still, these types of videos are less obtrusive to the viewer, as he or she can still watch the broadcast and ultimately choose not to view your site. For you, this is actually the biggest disadvantage to using a live video broadcast to direct traffic to your website–ultimately, no one may follow your advice and visit your site, meaning that you don’t make any money with the video broadcasts at all.
If you want to succeed with using videos to promote a website, you’ll need to make sure that the content is compelling. Avoid giving the full story. Provide just enough information to get viewers interested in learning the rest and then direct them to your website to get the information. It can take time to build up a following large enough to make considerable money through this type of video broadcasting monetization.
Start a Crowdfunding Campaign
If your live video broadcasts are on topics that are unique and of interest to the public or to people in certain groups or if you have a large following of dedicated viewers, crowdfunding can be a great way for you to get money for live video broadcasting.
With crowdfunding, you set up a campaign with a particular goal and then collect small donations from people who want to watch your live broadcast when it airs. You’ll need to provide incentives or rewards to encourage people to contribute. For example, you might mention their names in the video or send them a copy of the broadcasts for a donation of a certain size.
Crowdfunding campaigns are simple ways to generate funds and eliminate the hassles of having to search out advertisers and sponsors. The problem with them is that not all of them are successful, so you may ultimately may fall short of accomplishing your goal.
The best platform to get started withy our crowdfunding endeavours is definitely Krowdster, the first crowdfunding marketing platform, designed to optimize & promote rewards and equity crowdfunding campaigns. If you want to check out their offers and get started asap, feel free to click on the image below or go to their website here!