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A professional streamer can make $3,000 to $5,000 per month. This figure does not include advertising revenue, which typically amounts to $250 per 100 subscribers, and that’s before we even consider potential earnings from other forms of sponsorship. These streamers can make hundreds of thousands of dollars monthly thanks to their large fan bases and strong supporters.
However, monetizing your gaming hobby is challenging, and it’s a feat achieved over time. You must be ready to work, get the right equipment, create engaging content, and even spend money to promote your channel. That is why we have created this detailed guide to walk you through the steps of earning from streaming your gaming sessions. You’d also learn what opportunities there are for monetizing streaming.
What options do you have for monetising streaming?
The live-streaming industry presents many opportunities to earn from your hobby. We have explored these options below:
Advertising
According to a Twitch streamer, the platform pays about $3.50 per 1,000 ad views. YouTube and Facebook also have advertisement programmes you can earn from streaming your content.
Subscription-based income
Streaming platforms offer a subscription-based program where viewers can subscribe to your channel by making monthly payments. YouTube and Twitch are two such platforms.
Donations
Many live-streaming services and websites let you accept tips from viewers, and viewers can usually transact using the platform’s integrated services or currency. Good examples include the Super Chat tipping service on YouTube and using bits to cheer on Twitch.
Sponsorships
There’s a level of fanbase and attention you’d garner that would attract brands to you. These brands will reach out with reasonable offers where you monetize your gaming sessions by sponsoring their content, or the brand sponsors your whole streams.
Affiliate marketing
If you’re a member of an affiliate programme, you’ll get paid when a customer purchases using your affiliate link. Sometimes, instead of a tie, you get a promo code that visitors can use when they buy from the business you’re promoting.
Creating and selling your merchandise
TerrestrialPlays is known on Twitch for playing Animal Crossing: New Horizons and The Sims 4. When she had only 10 viewers per stream, she started selling merchandise, and now product sales make up a substantial chunk of her monthly revenue. She is only one of the many streamers that sell their merchandise via live streaming.
Video clip re-upload revenue
This approach involves finding free-to-use videos and remixing them. Then you upload this new creation to your channel. This also saves you from creating content from scratch, and if the video you used is well-known, chances are, your remix will draw attention.
There are prerequisites for exploring these money-making opportunities, and we have explained them in the following sections.
Setting up your channel
Start by picking your preferred streaming website or search for stream overlays platforms. Each streaming platform has slightly varied specifications for video quality, length, number of followers, etc. The way you make money off your streams also differs for each one. If you don’t want to focus on one platform, you can multistream, but note that this takes more effort.
Your first step to live streaming is setting up your channel. The setup steps to follow vary from one streaming platform to another but usually involve you filling out necessary details in their designated fields. These processes typically take a few minutes to complete.
The most important thing to note when setting up your channel is building your social media presence. While you don’t need a large fanbase to kick off, you eventually need to develop one, as a larger fanbase equals more revenue. Take advantage of Facebook, Instagram, YouTube, and Twitter. Interact with people, post short content, and make your audience anticipate your new channel.
Plan your content
There’s a saying that “content is key.” As a beginner, you can stream random ideas, but you can’t maintain a stable audience with random streams. You need to be known for something, the way SypherPK is known for Fortnite and xQc is known for Overwatch. This is where a content plan comes in.
First, determine your audience and key message. Do you want to be a gamer or an entertainer, or both? Are you targeting gamers? If yes, you can tailor your content to help them search for the most reliable NonGamstopUK. Once you have decided on your target audience, make a content schedule.
Load your schedule with content concepts you’ve previously come up with so that all that’s left to do is create the actual material. This organizes your routine and helps you determine the next thing to stream. You can always modify your schedule, add a few more exciting concepts or slot in a trending topic related to your niche.
Scaling up your Chanel
You’ve set up your channel, you have a content plan, and you’re building your audience. Now it’s time to utilize your channel and make money. As already noted, monetization plans vary from one streaming platform to another. Many platforms would not offer the opportunity to earn cash to starters.
YouTube, for instance, requires you to have at least 1,000 subscribers, 4,000 watch hours in the last 12 months, and strict adherence to its content guidelines. Twitch is more user-friendly. To join its affiliate channel, you need at least 50 followers, 500 minutes of broadcast over the last 30 days, and at least 3 concurrent viewers in the last 30 days.
Besides the platform’s integrated monetization plans, you can venture into other aspects like sponsorships and selling merchandise, which we explained earlier in this text. However, to make money from selling wares, sponsorships, donations, and the like, you need loyal followers. To get such a fanbase within a shorter time frame, use these tips:
Equip yourself with the right gear
Top-notch streaming equipment is quite pricey, so you might want to start with the basics—a mobile device. However, you can consider upgrading to a modern laptop with a video capture card to avoid the lags of mobile streaming. Your laptop’s webcam is sufficient while you’re still starting, but we recommend using a high-end camera along the line, as this would let your audience see you.
The microphone you use is also crucial to your live-streaming setup. If you’re just getting started, you can use the microphone that came with your computer. This gets the job done, but the sound quality could be much better. An individual microphone is strongly suggested. Other equipment that should come into the picture includes a mixer and a streaming encoder. It would help if you were particular about your background and lighting.
Promote your channel
The importance of promoting your channel cannot be overemphasized. This is the fastest way to reach your target audience and tell them what you’re offering. There are multiple ways to go about this, some of which are paid. However, if paid promotion is too much for your budget, you can promote your channel via other means.
Before every broadcast, create a buzz to excite your existing audience and drive new viewers to your channel. You can do this a week or two before the broadcast, then place a subtle reminder each day leading up to D-day.
Here is where your social media platforms come into play. Post news about your channel on these sites using catchy phrases and hashtags. People love teaser videos, and if you create them right, you’ll pull them to your channel. You can also collaborate with other streamers or big-time influencers who can promote your channel for free.
Engage with your audience.
49% of marketers believe that an engaged audience makes live streaming successful, and 78% of businesses also share the same thought, as engagement leads to ROI. So, if you want to make the most of your streaming sessions, engage your audience.
You can increase audience participation by enabling live chat. This creates room for comments and questions. Responding to these questions is vital, especially if you ask for them. Another way to keep your audience engaged is by offering a reward. Encourage them to share their thoughts on your topic, but the most important thing is to provide value.
If you’re an entertainer, ensure your audience is entertained; if you’re reviewing products, ensure you offer them insightful details, not one they can find anywhere; if you’re a gamer, develop your skills to keep your audience hooked. If you integrate these tips into your live-streaming sessions, you will grow your audience, consequently increasing your means of generating revenue.
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