Effective channel monetization is one of the main goals of beginner streamers. But to achieve a level of success, as is the case with:
- Pokimane, with a net worth of $25 mln.
- Ninja, with a net worth of $40 mln.
- TimTheTatman, with a net worth of $10 mln.
You’ll need to work hard and get some basics straight first. So, how to make money from streaming in today’s day and age? Let’s explore this as well as some typical mistakes that newbies make, putting an end to their future streamer careers prematurely.
Donations or tips from fans
The most trivial way to monetize your streaming profile is through virtual tips or donations. Subscribers can donate money to streamers for entertainment, education, or any other unique content they deem objectively or individually valuable.
For instance, the average Twitch or YouTube stream donation ranges from 5-20 US dollars, but ultimately, it all depends on the geolocation, platform, and content specifics. For many streamers, this way to get paid to live stream becomes the primary source of income. However, it requires the regular presence of the streamer online.
The typical mistakes beginner streamers can make when collecting stream donations include the following:
- Irregularity of content creation.
- Lack of feedback for the target audience.
- Focusing on one platform only.
Make sure to handle all the above, and soon, you’ll get loyal subscribers ready and willing to make consistent donations.
Revenue from ads
Ads that are automatically loaded during the stream can also bring you money. For example, if we talk about YouTube, content creators receive about 45-50% of the advertiser's revenue for views.
Similar pay-per-view money-earning principles apply to Twitch, where you get about half of the advertiser's pay. However, they provide more detailed information in your agreement with Twitch.
As your streaming easy money will directly depend on the number of your views, you’ll need to cover trending topics in your streams to earn as much as possible.
Building a loyal following to support your stream
If you are out for long-term success, you must constantly expand your audience to get as many loyal viewers as possible who will become subscribers to your paid live-streaming channel. It applies to Twitch users, as YouTube has been dropping community options since early 2023.
On the other hand, on YouTube, you can redirect your fans to Patreon or any other donation platform to support your channel financially. It is quite a widespread practice for YouTube live stream monetization and doesn't look like a scam if you put a lot of time and effort into creating new content. If you notice a decrease in your YouTube channel metrics, you can learn how to fix it here.
Partnering with sponsors and affiliate programs
Affiliate (referral programs) consist in finding advertiser partners or sponsors for whose websites you attract traffic through your streaming channel.
Suppose we're talking about monetization Twitch opportunities. In that case, the requirements to join the affiliate program are pretty simple – you need to have the following:
- at least 50 followers
- at least one 8+ hours long stream
- 7+ streams on different days
- an average of 3+ viewers per stream
All these conditions must be met within thirty days, and you’ll get access to connecting affiliate links. Hot tip — use our tool to increase the duration of your streams: it loops your video when you decide to take a break. You can also learn other ways to get more watch hours on your YouTube channel here.
Affiliate marketing on YouTube works the same way on many other monetized platforms: you earn money by placing affiliate links to products or services in the description of your videos where you recommend them to your viewers.
Creating merchandise and branding opportunities
How about iconizing yourself a bit? For streamers with an established audience, launching themed merchandise and branded goods is a well-tried-and-tested way to monetize. But it’s important to understand that this monetization method will require an initial investment from you, so before resorting to this option, you must consider whether it will pay off with income from possible sales.
Develop pay-per-view content
Lastly, you can create content that is especially valuable for your audience and encourage your viewers to pay to watch videos. Of course, to generate interest in paid videos, you also need to create free ones.
For instance, when monetizing an educational channel, you can provide your viewers with general information in free videos while highlighting something unique and special in paid ones. The main thing is to maintain a balance and make the right connections to what and why your audience will have to pay for it.
Now you know how streamers make money and can easily follow these tips to your advantage. Just remember — if you want to make your streaming a permanent source of income, you must treat it as a real job and be persistent and consistent in your actions. As for the technical part, and in particular, increasing the duration of your video, you can always turn to the specialized tool to achieve more — try the free trial version right now and learn more about how it works here.