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While doing research prior to writing this article about the future of the Facebook Live platform, I stumbled upon this great video produced by TechCrunch. In the video, TC’s Khaled Hamze explores the live streaming craze in China, one of the only places on earth to ban Facebook completely.
Apparently, the Chinese don’t need Facebook to gain traction, viewers or money. Some of the people interviewed in the video make thousands of dollars a month (legally), simply by streaming on live-stream apps from their bedroom.
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So, how can you make money live streaming from your living room?
Since we’re not in China, our options of making money using a live stream service are much more limited, but here are 2 companies that will help you quit your day job (or not):
The first-to-market live streaming website, and currently the biggest player in the market by far, is YouNow. Having raised over $27M and operating since 2011, the company has over 60 employees in the US and Israel combined.
On YouNow, anyone can start broadcasting in a few clicks, and many do so. 75% of the website’s traffic is between the ages of 14-24 and 56% are female. over 150,000 new broadcasts go live everyday and the monthly traffic is mind boggling- over 100 million website visits per month. Being this big also draws big names like MTV, Mashable and many others who are eager to reach the millenials in their own playing ground and opened up an account of their own on the platform.
But not everyone can start making money on their first day. To join YouNow’s partner program, one must have at least 450 viewers in average and go live at least twice a week or more, ensuring that the content is interesting and community is large. Once you get into the partner program, the sky is the limit- your viewers can start tip you based on your performance, which translates to real money, from which YouNow takes it’s share, like in a real partnership.
According to the company, the highest earners go live for at least an hour a day and can earn a 6-digit annual salary. That means quitting your day job.
Catering towards the large and quickly growing online music community, Fanify, allows musicians to monetize and engage their fans through the power of video live stream.
Fanify combines the two things musicians need most in order to grow their careers: fan engagement and fundraising, all in one super simple and fun app. Musicians can open the app and begin a live stream from their studio, tour bus, backstage or anywhere else, and at any point during the ‘show’ earn revenues from their supportive viewers with virtual coins.
“Like YouNow, in order to earn tips from a live stream, a musician must be Fanify verified. This means we’ve checked their social platforms to make sure they’re actually striving for a career in music not just playing around. If a musicians is verified, they get to keep 20% of the tips they earn during a live stream performance”, says Founder and CEO, Loni Schuman.
The app also lets musicians, whose fan bases range from 1,000 to 1M, test new material with their viewers and get immediate feedback from their fans.
Want to start live streaming? Read my article with tips and tricks