While Twitch is the most popular streaming platform, it is not without its flaws. Given how many reputable streamers use Twitch, Twitch doesn’t have many resources for smaller streamers to make it big. YouTube Live is a great alternative to Twitch and is kinder to new streaming broadcasters because of its connection to Google and its video search.
YouTube Live offers many ways for new streamers to make money on the platform. It will take some time to earn revenue on your channel. However, once you do, you can start making money. For some of you, you might even make a living outside of YouTube Live.
Why stream content to YouTube Live instead of Twitch?
Twitch has become the most popular streaming platform on the Internet. Naturally, there is a lot of competition on the platform and Twitch is not as well equipped as YouTube to prop up its smaller streamers. Twitch typically recommends popular streamers that are online. The YouTube search engine makes it easy to find out if you’re online or offline. Live stream VODs are also more accessible on YouTube.
Ways to Make Money on YouTube Live
The most common way to make money from YouTube broadcasts is through ads. YouTube allows creators to run pre-roll, mid-roll, display, and overlay ads. Posting ads is not an advantage of starting YouTube streaming. You must be in the YouTube Partner Program to earn money with ads that are displayed during playback and videos. These are the requirements you must meet to access the Partner Program:
- You must have at least 1,000 subscribers to the channel you are using
- At least 4,000 hours of videos viewed in the last twelve months
Once you’re in the program, you can start making money with ads that appear on your videos. Ads are a regular revenue stream. However, they are not consistent. YouTube is pretty strict about the right content for your ads.
In addition, YouTube is constantly updating its monetization policies and rules for reasons that may have been acceptable before. YouTube may monetize your streaming VODs if you believe your content is unsafe for trademarks or includes copyrighted material.
However, the YouTube system is faulty and is sometimes demonetized for unknown reasons. Also, you need to consider ad blockers. A lot of people use them, meaning you’ll make less money from ads than expected. The best way to make sure you have a steady income is to have other forms of income than advertising revenue.
Super Chats is YouTube’s tip system during live broadcasts. Viewers can tip during live play to post their comments in the chat window. Super Chats make questions and comments more noticeable for streaming. Streamers use this feature as a way for their viewers to ask them questions. In addition, talkers can buy Super Stickers. While YouTube is part of the board, it’s still a way to get direct support from your community.
Similar to Twitch subscriptions, YouTube offers subscriptions. Subscriptions allow you to block parts of your feeds from members only. So if viewers want to see the part of the play, they have to pay. Only creators with more than 1,000 subscribers can use the YouTube subscription feature. Here are all the requirements your channel must meet to unlock the membership feature:
- Your channel must have more than 1,000 subscribers
- You must already be in the YouTube Partner Program
- Must be 18 years old
- Your channel does not contain a significant number of unsuitable videos (videos made for children or videos with music claims)
Season tickets work in a tiered system. In total, there are five levels. The higher the level, the more benefits buyers receive. The five levels cost $ 1.99, $ 4.99, $ 9.99, $ 14.99, and $ 24.99. Craters can name each level, allowing them to add a specific channel touch to the tiered system to excite their communities.
Increase your revenue stream
YouTube monetization is inconsistent. While you can make a living from the money you earn on YouTube, many YouTubers will tell you that it can change right away. For example, in May 2017 during Adpocalypse, brands earned their funding from YouTube, which caused many content creators to lose most of their ad revenue. He taught many that it is better to diversify their sources of income.
Creator’s Handbook Tip:
Diversifying revenue from the activity board is an excellent strategy to ensure success without relying heavily on advertising revenue.
Direct donations from your community are always a way to ensure that your channel stays funded in difficult times. Platforms like Patreon allow streamers to receive monthly payments from their communities for additional content. Basically, the benefit of having a decent amount of monthly donations allows you to take more risks with your content and not worry so much about the YouTube system demonetizing your VODs. While it will hurt, with enough monthly donations, it will hurt a little less.
Sponsorships usually start coming in when you have a larger following on YouTube. After setting up a platform and demonstrating that you can attract and mobilize your audience, brands will want to work with you. You don’t need millions of subscribers to get brand offers.
In many ways, interaction is more important to brands than the number of subscribers. A channel may have a million subscribers, but if that channel fails to get a fraction of its subscribers to buy a product, brands will look for another channel to work with. Sometimes brands will contact you. Other times, you need to contact the brands to get the wheels moving. General rule: Make offers with brands you use and you think your audience will find useful. You run the risk of looking like a sold product if you take advantage of every branding opportunity you get.
Commerce is an important source of revenue for many YouTube streamers. YouTubers typically sell goods such as shirts, hoodies or hats. They sell them in partnership with YouTube-approved merchandise manufacturers. However, some YouTubers prefer to do it themselves. Whatever path you choose, you want to make sure it’s something special for your community. For example, PewDiePie sold tambourines with the iconic red and black waves on their channel because tambourines were a big meme of their community.
Also, once you start selling merch, be sure to use features like the YouTube merch shelf. This feature allows you to advertise your products during your feeds.
If you’re not too interested in advertising directly to your video, a good alternative is to use affiliate links. If you want to use a combination of both, you can make even more money by advertising. Affiliate links are links to products that you recommend or use in videos. When someone buys the product through the link, you get a discount on the sale. It’s a more subtle way to make money through product ads.
Start making money on YouTube
While YouTube has its drawbacks, it remains one of the best platforms for making money. Use their programs, such as the partner program and features like Super Chats, to make money from your feeds. Also, be sure to set up a source of revenue outside of YouTube to ensure that you have consistent revenue if things don’t go well for your channel. The only way to start making money on YouTube is to stream videos and there is no better time than now to get started.