With the gift of technology, live streaming is getting more popular these days. As per the recent survey, it is found that around 80% of the respondents show more interest in watching live videos when compared to reading the blogs.
The most audience is ready to pay for the live exclusive, on-demand videos if it is from their favorite team, speaker, or performer. Such live streaming events and products to the worldwide audience will usually create revenue for the brand when you are implementing it in a smarter way.
Understanding these, more people are now looking for making money over the live videos and it is a good idea too. So, how to monetize a live streaming app is the question that arises in the minds of the people. Continue reading, if you have the same question in your mind.
- Seek for donations
Online donations are considered to be the best way to collect revenue for content creators. As per the survey, online giving is increasing by 13% every year.
The features of the live stream make it easier for the organizers to accept the donations from their viewers. Here, both the live stream event page and the live players embed features a built-in button meant for donation and this should pop up whenever needed. This helps with the huge collection when you have enough fame among your audience.
2. Get options from the sponsorship ads
It might be any videos or live-streaming apps, the sponsorship ads are the most simplest and efficient way to make money. However, you cannot expect to have free reign to all the platforms to make more benefit out of the tool.
You need to choose the platform that allows with such facilities. So, you can add some free ads and this will help in generating more funds. Here, you need to ensure that the ads are not disturbing for the viewers and do not affect their interest to watch the video.
3. Go with Pay per view
This is one of the popular ones when it comes to earning out of the live streaming videos. It is also a reminiscent type of traditional ticket. In this method, you can charge viewers for the entry fee for streaming the video.
Here, people would ask why the people would pay for the video when there is a possibility to watch the video free of cost. When the videos are poor in quality or more regular ones what people usually watch, it might not earn you anything. You need to be unique in the videos you post and create some passion for the people to watch these videos. This will help with the best outcome.
4. Offer long term subscriptions
Today, people have lots of commitments and it is hard to pay for things every month or periodically. However, some people are ready to pay for the entire year and look forward to enjoying the service without any interruption.
Also, when it is available with some discounts, people can come forward to subscribing. Along with it, you can also offer a free trial pack for some days or a month. With this free trial, they can get to know about the services and gain interest out of it. So, when the month is getting over, they would automatically look for the option to enjoy the service further and pay for it.
5. Have promotions for the app
Though you have established all the possible ways to earn from the live streaming app, it is not possible to have huge revenue unless you have a good number of visitors. So, you need to establish the app among the audience in the right way.
Here, it is better to use some digital media strategies and work more on social media platforms. This will help in covering a wider group of audience. Further, make them know the types of videos and their quality. Overall, look for the possible ways to reach among the huge crowd of audience.
6. Set different payment gateway
When it is online live streaming, the online payment gateway would be the online best solution. Even in the online modes of payment, you should design the payment gateway to support all kinds of transactions like a credit card, debit card, different e-wallet payment, etc. You can also try for some exciting offers for a particular period and particular banks. Though, before monetizing your app, you should build mobile app carefully.
Also, if you lost your phone you can easily track your android or iPhone smartphone using this step by step mobile tracking guide.
The bottom line – Live Streaming App Monetization
The world is moving with huge competition these days and the ultimate aim would be money-making. So, making use of live streaming would be one smart way to welcome people to your site to watch HDonline movies and earn from it. However, this is also a competitive landscape in this digital era. So, follow the suggestions given here and make use of it in your business process or make money out of it.