How to Make Money with Live Streaming: 10 Best Ways

The world is running ahead of time and creators are looking for ways to share their message with the world. Some even wonder if it is possible to earn money by sharing ideas, broadcasting hobbies, playing games, conducting webinars, streaming talk shows, engaging with audiences as a fitness influencer, and much more. Yes, it is possible! All you need is a live streaming platform.

If being a content creator is a profession and whether will it yield good revenue, the answer is yes, you can not only earn, but also you can get popular by showing your hidden treasure to the world. Why should you believe this fact? The video streaming market is now valued at over $500 billion. And is expected to continue growing to over $1.9 trillion by 2030, at a CAGR of 19.3%.

So let’s wait no more and explore the ways to make money with live streaming this through this blog. 

Can You Monetize a Live Stream?

Some may doubt this, but we bet you can do it, and let us guide you through it. You can easily monetize content using various methods offered by live streaming and social media platforms. Implementing these strategies can turn your live streams into a significant revenue source.

Factors While Choosing The Right Live Streaming Platform

The section below highlights the factors to consider while choosing an ideal live streaming platform. Scroll down to learn how to start making money from your live streams.

1️⃣ Target Audience

The first step in selecting the best live streaming platform is to have a clear understanding of your target audience. Each platform caters to the particular interests of content creators and has its distinct user base. Knowing your target market will help you select a platform that best suits your needs, thereby improving engagement and increasing the likelihood of revenue.

2️⃣ Content Type

When choosing a platform, it’s crucial to consider the style and content of your live streams. Each platform offers various functionalities and features that can enhance the live streaming performance in a unique way.

For instance, platforms that allow screen sharing and interactive elements are ideal for streaming webinars or seminars. And if your content focuses on fashion and beauty, platforms that support high-quality images and videos will effectively showcase your work. So choose based on your content type.

3️⃣ Community And User involvement

The development of a community and user involvement are critical components of any live streaming endeavor. A monetization platform should have a community building feature to enable constant access to your followers by supporting engagement with fellow creators who share a mutual passion and vision.

4️⃣ Real-time Interaction with Your Audience

Interactions foster a sense of belongingness and devotion that motivates some viewers to come back for more and support your efforts. Select a platform with interactive elements. These tools not only facilitate communication with your audience but also help you build solid relationships with your followers.

5️⃣ Platform Stability and Technical Support

To live stream you need to deliver a seamless and stutter-free streaming experience to viewers. For this, you need a dependable live streaming platform that is liable for its strong technical support.  As a live streamer, you also should make sure that the platform can accommodate any number of increasing viewers without affecting your live performance. Also, make sure to evaluate the viability of security features offered by the platform to protect your content and audience data from potential threats.

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How to Make Money With Live Streaming

Now that we have explored the factors involved in live streaming, let’s move on to how to make your live stream a stunning talk-of-the-town show while simultaneously making money from it.

✅ Generating Revenue with Live Shopping

Live shopping is trending now, also known as live stream shopping or shoppable live streaming, in case you are not aware 😜. With live shopping, you have the opportunity to integrate three core elements: social media followers, e-commerce, and live video. If you are looking for ways to sell, promote, or engage users while they purchase from you, you can easily make money by live streaming your selling tactics.

In certain multistreaming platforms like Onthefly, you also have access to a wider range of streaming features, allowing you to stream and process live shopping hassle-free.

✅ Revenue From Ads

Creators are making millions from ads, and using ads while you livestream is not rocket science. Make money from ads that can be rolled in between your live streaming, like pre-rolls, mid-rolls, and final rolls. You can also make money from display ads, pop-ups, and quick ads in the form of thirty-second reels.

Select a platform that supports AVOD (advertising-based video on demand), as it expands opportunities for more viewership while letting you earn.

✅ Subscriptions And Memberships

You can opt for a platform that lets you convert your viewers into long-term subscribers or members, allowing them to stay continuously connected to you. You may know that YouTube, Twitch, and other platforms offer subscription and membership plans, which you can use to offer your plans to your subscribers while earning money.

This also allows you to create unique, subscriber-specific content to build a loyal audience who will pay to keep coming back for more. This is one of the best options to consider for making a consistent income.

✅ Donations or Tips

Who says no to love? If you are a creator who wants to make money by streaming your favorite hobby, lifestyle, or everyday routine, you can still do it, as there are people who love to see you and show their gratitude by sending you a tip or donation.

One affectionate shoutout to the person who sends you a tip or donation can make them come back and spread the word to their family and friends, who will eventually join you out of mutual interest. If you haven’t heard of the tipping services offered by live streaming platforms like YouTube, Twitch, and Facebook, explore them today and start earning.

✅ Developing Pay-Per-View Content

If you feel that a subscription-based model, membership, or ads may not be necessary, why not try pay-per-view? If you are an event organizer, you can host a one-time webinar or workshop with live streaming. Or, if you want to make money by sharing tips with the world as a gamer and need to charge your viewers for that, you can confidently opt for the pay-per-view monetization method.

Choose a platform that offers this monetization model so you can earn exclusively for each view.

✅ Collaborating with Brands for Sponsorships

Consider collaborating with fellow creators, brands, and sponsors to earn money while streaming your content to your viewers. To pursue this option, you need to have a decent number of followers so that brands, sponsors, and your co-creators are willing to pay to advertise their unique selling points (USPs) during your live stream or through merchandise.

✅ Sell Online Courses 

If you are an educator or educational influencer who wants to teach or sell courses to your viewers through live streaming, you can teach online by scheduling live sessions. Choose platforms that help you monetize easily by taking care of all the necessary administrative work with their automated features, so all you need to do is go live and teach. You can charge viewers for the hours of classes they attend, through pay-per-view, or by subscriptions.

✅ Virtual Events or Workshops

You can envision an event planner who wishes to livestream great events to millions of people or a workshop enthusiast who needs to broadcast unique and influential workshops to a targeted audience. You can easily make 10x the revenue with live streaming. You can engage with the audience, plan the events, sell tickets through pay-per-view, and expand your chance to bring in more revenue by securing sponsorships and brand promotions.

✅ Sell Digital Products to Make Money with LiveStreaming

Try selling digital products such as e-books, podcasts,  online courses, or exclusive content during your live streams. If you want to engage more with your audience, try promoting your digital products directly to your engaged audience, providing instant access upon purchase to drive immediate sales.

✅ Affiliate Programs

Try partnering with brands to promote their products during your live streams and earn a commission on each sale. Send or  Share affiliate links and discount codes with your viewers while you livestream, by incentivizing them to purchase through your unique referral, thereby generating passive income.

⚡️ Read Also: 10 Best Methods to Secure Your Live Streams in 2024 🌟

Best Live Streaming Platforms 2024 (updated)

To stay on trend with creator updates and stay a step ahead of your competitors, you need to know and understand the available options for creators like you. And we know that very well! To help you get started and save you the trouble, we have compiled a list of platforms that will enable you to start live streaming and achieve your streaming goals in no time.

So, what do you need to know when picking the right live streaming platform? After all, your future depends on it, so let’s do it right from the start. The accuracy of this comparison research on each platform is based on our unique research using online references.

1. OnTheFly

Best for: content creators, podcast streaming, talk shows, webinars, gamers, brands, and community building.

Dreaming of streaming your live videos to millions of people at once? If you are looking for a platform to get started with live streaming in just five minutes, you can opt for the OnTheFly live streaming platform. Why manually connect various social media platforms to multistream simultaneously? OnTheFly lets you multistream with just a click.

Features

• MultiStreaming: Stream everywhere your audience is. Broadcast on any social platform like YouTube, Facebook, and Twitch from OnTheFly, and reach any destination and any device.

• Buit-in RTMP server to stream in 50+ platform destinations.

• Live Podcast: Interact with your audience in real time, creating an engaging and dynamic listening experience.

• Branding: Deliver streams and podcast intricately tailored for your brand. Host with excellent quality, right in your style.
  
• Add URL for multi-sharing and high-definition streaming.

• Prerecorded Stream: Store your streams on any device, and record or reuse the content as needed, anytime.

• Live Stream Chat: Retain your audience throughout your live-streaming sessions with a comprehensive set of chat tools from 3+ social media platforms. 

Pricing

You can use OnTheFly for free with limited features and streaming time, or make the most of the platform with extended hours of live streaming by upgrading to paid plans starting at INR 1476 per month.

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2. GUDSHO

Best for: Hosting & streaming videos for creators & business leaders.

GUDSHO stands out as a leading video hosting platform, and also the best video streaming server. It mainly focuses on business leaders, artists across various fields, and video-centric brands, providing comprehensive solutions for streaming, hosting, managing, marketing, and monetizing videos.

With GUDSHO, creators can seamlessly stream premium content to global audiences while nurturing their video content. The platform offers robust hosting and distribution capabilities for videos of any style and genre, backed by a suite of ready-to-stream tools designed to perfection and elevate business ideas.

Creators can leverage GUDSHO’s tailored, high-tech solutions for video streaming, marketing, event promotion, and monetization to significantly expand their subscriber base and amplify their impact.

Features 

• Key Features: Video streaming, video marketing, monetization, video analytics, video CMS, Video platform API, Event marketing, live streaming, and video on demand. 

• Unlimited Storage to store and access your videos in the form of a video library. 

• Global Delivery with 4K HD ultra-streaming, supported by CDN, with low latency and to enjoy clutter-free live movie premieres from anywhere & anytime.

• Video CMS to  Upload, organize, and stream videos with the built-in video CMS solution.

• 5 + Monetization Models like  SVOD, TVOD, AVOD, pay-per-view, Rent, Donation, and Live to On-demand conversion to multiply revenue. 

• Exclusive Marketing Toolkit to boost viewer rate and maximize conversion with branding, targeting, gaining visibility, and viewership with an engaging 360° marketing toolkit. 

• Adaptive bitrate streaming to adjust the quality of the video based on the capabilities of the device and network, thus improving video streaming over HTTP networks.

Pricing

Gudhso offers a 14-day free trial, and the paid version starts at $19/month.

3. VPlayed

Best for delivering high-quality live and on-demand video content for enterprises, educational institutions, media houses, and sports organizations.

Vplayed is the trending digital OTT streaming sensation, perfect for those ready to launch their own OTT platform in just 4 days! With a custom OTT solution jazzed up to handle complexities, deploy seamlessly, and scale up, it’s the ultimate Vimeo alternative.

Vplayed delivers monetization flexibility and multi-device support, catalyzing rapid growth that perfectly targets specific regions for streaming. Enjoy a theatre-like watch experience with an ultra-smooth OTT player.

 Protect your OTT video content with robust multi-layered security with Multi-DRM, digital watermarks, AES encryption, and more power. Isn’t it amazing? But wait, there’s a lot more to unveil!

Features 

• Key Features: OTT monetization, Video CMS, Whitelabel, marketing transcoding, and much more.

• The 100% customization option manages your video content by retaining your brand identity. 

• Powerful cloud transcoding to ensure seamless streaming by optimizing video quality. 

• Profitable  9 +monetization models to multiply revenue, and enjoy recurring profitable mainstream income.

• Multi-DRM solution to protect your data with powerful video security.

• User-friendly content management system to organize and manage your video library effortlessly.

Pricing

Contact their OTT experts and sales team to book a demo, and get your quote today!

4. Muvi

Best for : Content creators, media companies, educational institutions, and businesses looking for comprehensive monetization options and seamless streaming solutions.

If you wish to deploy multiple monetization models on your platform, Muvi is your go-to solution. It is a  SaaS-based and OTT-focused online video platform that supports both live streaming and monetization tools.

Their paywall implementation works well with all advertising and PPV subscription models, making this a highlight.

However, you should be aware that Muvi’s security features and geographic restrictions are a drawback.

Features

• Various monetization models, including Subscription, Pay-Per-View (PPV), and ads

• Easy access to crowdfunding and donations to expand your earning opportunities

• DevHours package for customization and integration with other platforms

• Choose and own your domain to prioritize your brand and foster a stronger connection with viewers

• Built-in metadata management for better SEO and discoverability

• Chromecast support to stream directly to televisions

• Multiple payment gateways for safe and secure transactions

• Built-in CDN with the option to record live streams flawlessly

Pricing

14-day free trial and the paid plan starts at $399 per month.

5. StreamShark

Best for: Companies, enterprises, SMEs, and corporates.

StreamShark is an adaptable and highly scalable live and on-demand video platform specially designed for enterprises and businesses.

StreamShark’s live event platform offers users the ability to efficiently and reliably manage the different phases of an event’s stream, ensuring maximum reach and reliability via its multi-vendor approach with ingests and CDNs.

Features

• Enterprise video streaming features for reliability, uncompromisable security standards, and detailed analytics and reports.
• Reliable video streaming supported with Redundant Ingests, Dual DNS, multi-CDN, Global edge locations, Dedicated and Isolated Servers, Critical Live Event Monitoring, and load testing services.
• Encoder management features for Remote Configuration & Control, managing Encoders via Single Interface, and deep integrations with AWS Elemental Live.
• Preload high-qualit, 4k,  video content to the cloud via StreamShark.
• Encrypted Live Streaming that supports VODlive, peer-to-peer live streaming, and 360° live streaming.

Pricing

You have a free trial period, while the paid plans start at $199 per month.

Wrapping Up

Using several monetization strategies, like paid subscriptions, pay-per-view live streaming, virtual events, and brand partnerships can help to increase revenue and diversify revenue sources.

 Monetization goals and the approaches to audiences with the right live streaming platform will keep you ahead of the curve as live streaming gains more traction.

This can maximize profits and create a long-lasting livestreaming profession by experimenting, analyzing, and fine-tuning tactics. One of our recommendations to attain both profits and highly productive streaming environments is to make wise decision by selecting a platform like OnTheFly.

Keep your content goals high and monetize your content in the best way possible.

Frequently Asked Questions (FAQs)