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Intro

There are two things about live streaming in 2021 everyone should know. The first is that live streaming is no longer only about playing video games and inviting other people to watch (though there’s plenty of that happening). The second, more importantly, is that for many people live streaming is more than just a hobby – it’s a bona fide revenue stream. For some, it’s even a full-time career.

But don’t quit your day job just yet. It’s true that it’s incredibly easy to start live streaming. It’s also true that some people know how to make money by streaming, and there’s no reason you can’t learn how to do it, too. You might even be able to increase your sales with live streaming as a business.

But getting to the point where you get paid to live stream takes time, energy, and content that makes people want to watch you. The people who are getting rich streaming are an incredibly small minority. On Twitch, for example, the top 5,000 channels get 75% of all viewing time. Twitch has more than two million channels. But if you’re ready to put in the work — a lot of it — you can make money by streaming too.

We made this list of the most common, hassle-free ways to generate income from live streaming, followed by the more involved and unorthodox methods.

Use these methods if you’re ready to generate income from live streaming.

1. Getting donations or tips from fans

If you want a sign that your live video streaming hobby/side gig/career is moving in the right direction, wait for your first donation or tip. It’ll feel so gratifying when you realize that someone, somewhere, is appreciating what you do enough to send you a couple of bucks.

Most live-streaming platforms and websites allow you to make money by letting viewers send you donations or tips. They usually have integrated services or even their own virtual “goods” or “currencies” viewers can use for the transaction.

Here’s a breakdown of the donation/tip systems on major platforms:

YouTube’s main tipping service is Super Chat. Viewers can use tips to pin messages in your channel’s chat window, making them more noticeable. YouTube also lets users buy chat animations called Super Stickers, and you get a cut of each purchase.
Twitch allows viewers to “cheer” using Bits, the platform’s virtual currency. If you’re a Twitch affiliate or a partner, you get around $0.01 for every Bit viewers use when cheering. The viewers get to write a message that appears together with a special kind of emote, a Cheemote.
Facebook’s tipping service revolves around Stars, a type of virtual good viewers can buy and send to you, giving you $0.01 per Star. You need to be a part of Facebook’s Level Up program to enable Stars. Facebook also supports fundraising charitable donations for U.S.-based 501(c)(3) organizations.

When receiving tips, remember to give a shout out to the person giving it. If the tip comes with a message or a question during a live AMA (Ask Me Anything), it would be a good idea to prioritize it over other questions.

2. Regular viewer payments on the streaming platform

Getting an occasional tip from your viewers is great, but getting regular payments is better. These payments usually net you a couple of bucks each, but if you can get enough of them, they add up.

You usually need to meet certain requirements to enable this kind of support, as platforms reserve it for members of their content creator programs. The streaming platforms that don’t have regular payment systems yet will probably roll them out in the future, as it’s a popular way to make money while streaming.

Here’s an overview of recurring payment features on some of the major platforms:

YouTube has a channel membership program that allows users to subscribe to channels with monthly payments. To open your channel to this opportunity, you need to be in the YouTube Partner Program and meet additional eligibility requirements.
Twitch has a paid subscription program that lets you earn from paid subscriptions if you’re an Affiliate or Partner. Your viewers get one subscription for free through Twitch Prime, or they can pay for them using PayPal, Amazon Pay, or credit cards.
Facebook Gaming extended its Fan Subscriptions featureto Level Up gaming content creators.You have to achieve a certain number of returning weekly viewers, and the feature is only available in certain regions.

If the platform allows it, you should make content that’s exclusive to your subscribers. It’s a nice way to show your most loyal viewers that you appreciate their support. Also, remember to give a shout out to the people who subscribed, and even a mention on their subscription anniversaries.

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3. Tips and regular payments via third-party platforms

You might not want all your streaming revenue to come through the streaming platform. Not everyone may be interested in joining the partnership programs, or you might lose your status and standing with the platform. Maybe you just want to keep things separate to make it easier to move from one platform to another, or operate on several platforms at the same time.

For whatever reason, you may find yourself in a need of a third-party platform you can use to process payments from donations and subscriptions. There’s plenty you can choose from. Some of the most popular options include:

Streamlabs for one-time donations. It integrates easily with Twitch, YouTube, Facebook, Twitter, and Picarto, and it offers six different payment options.
Patreon for regular donations/subscriptions. With the ability to let patrons set monthly pledges, Patreon is about the closest thing you can get to a subscription system without going through a streaming platform’s program.
GoFundMe or Kickstarter for project-based funding. If you have a project to complete and you’re looking for funding, set up pages on these websites and use your live streams to promote it.

For most of these services, you should consider creating special rewards and content for people who support you. Decide carefully which content goes behind the paywall and which stays free, though. You can’t keep all your best stuff locked behind a subscription; some of it has to stay free to attract new viewers.

Read Next:20 Fun Things to Do on a Live Stream📍

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4. Revenue from ads

Advertising bucks are already used to power half the internet, including Google services and Facebook. Why not you too? If you join the right streaming platform or social network, you can start earning some decent ad money.

Not every streaming platform offers ads to creators, though. In fact, some are very much against ads. Others have not yet included a third-party advertising service.

If you want to generate revenue with ads, join these platforms:

YouTubeoffers pre-roll and mid-roll ads, as well as display and overlay ads.
Facebook Live offers mid-roll ads if you meet the viewership number criteria.
Twitchoffers in-stream ads, as well as display and native ad opportunities.

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