The digital content industry continues to grow even before the pandemic, and the global market size is projected to reach $38 billion by 2030.
Content Monetization Formats for Gamers and Streamers
The amount of money content creators can make depends on their followers, industry, niche, location, and level of engagement.
Major technology platforms, including YouTube and Twitch, struggle to keep content creators with them to drive engagement. However, these social media giants leave content creators with little to no direct monetization options.
Therefore, bloggers and content creators need to factor in hidden costs to understand the actual amount of money they can earn from donations, subscriptions, or any monetization program.
1. Affiliate and Partner Programs
The first step on how to make money as a live streamer is by joining the partnership program of your respective platform.
The most popular Twitch streamers effectively become full-time gamers, playing online for at least 40 hours per week and earning an average of $3000-$6500 per month, depending on their number of followers and sponsors.
To qualify for the Affiliate Program in Twitch, content creators must meet certain criteria, such as:
- Streaming for at least eight hours per day for seven days within the last 30 days
- Averaging at least three viewers per stream
- Increasing viewership to 50 followers
Once these criteria are met, Twitch automatically invites them to become Affiliates. These members can earn money from subscriptions, receive Bits, and generate revenue by selling games and in-game items.
When it comes to YouTube, they have its own Partner Program. Thankfully, YouTube has just renewed its YouTube Partner Program tailored for streamers. As of June 2023, a streamer must meet the following requirements to be eligible for the Partner Program:
- 500 Subscribers
- 3 Valid Public Uploads
- 3,000 Valid Public Watch Hours or 3M Valid Public Shorts Views
The YouTube Partner Program includes Super Chats, Super Stickers, Super Thanks, Channel Memberships, and YouTube Shopping as different ways to monetize content. Unfortunately, the latest Partner Program doesn’t include ads monetization.
The second things on how to make money as a live streamer is by monetizing your fans through the subscriptions of membership feature.
Subscriptions provide recurring income for content creators. On certain platforms, bloggers can earn more money through subscriptions. For instance:
- On Twitch, streamers can add monthly subscriptions ranging from $4.99 to $24.99 to their channels and earn 50% of the revenue. Subscriptions are allowed for both Affiliates and Partners.
- The most popular Twitch Partners earn over 50% of the subscriptions to encourage them to stay on the platform.
- Subscription options are available only on the Twitch website and not on mobile apps or consoles, which is why streamers need to occasionally remind viewers to visit the website to subscribe.
Twitch and other platforms pay a flat-rate CPM (cost per thousand views) that varies depending on the time of year.
On YouTube, average channels can receive an average CPM of $18, which is equivalent to $3 – $5 per 1000 video views. Twitch pays an average of around $2 per 1000 views for an ad, and this monetization option is available only for Twitch Partners.
4. Affiliate Links
Many content creators earn income by joining various affiliate programs and adding links to their products or services in the channel description page on Twitch and in the chat. Twitch is a product of Amazon, which has one of the most well-known affiliate programs in the world.
5. Selling In-Game Items and Sponsorships
Lastly, Twitch Partners can sell games and in-game items and receive a 5% share of the revenue. When streamers play games with sellable items, an automatic sales box appears on the page below the video screen.
Viewers can click on the box and make purchases. Additionally, direct advertisers often target popular content creators, and brands like Wendy’s and KFC partner with major streamers to create successful marketing campaigns on Twitch.
By leveraging these monetization methods, live streamers can diversify their income streams and increase their earnings in the dynamic world of content creation.
It’s crucial for creators to remain vigilant and maintain a competitive mindset while setting goals. These strategies will help you navigate the landscape and strive for success as a streamer.
I hope these tips can assist you in soaring to new heights and becoming a successful streamer in the future.
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