5 of the largest livestreaming platforms for generating revenue today

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Many people enjoy watching live streams because they have the opportunity to not only interact with the creator but also with other viewers. There is a human element to the content creation that is an attractive aspect of livestreaming for many viewers. Livestreaming has grown to be one on the largest online markets for creators and companies to grow and generate revenue. The global influence of social media makes it a powerful way to build relationships with an audience. Companies can livestream from their own channels or use other channels to advertise and establish immediate connection with customers. Influencers are key for many of these organizations to maximize their revenue and reach from livestreaming. Their proximity to viewers allow them to interact in real time with potential customers and promote products either verbally or through written chats. 

Here are 5 of the biggest live streaming apps for generating revenue today:

  1. Twitch. While initially built for gamers, Twitch has grown to be one of the most recognizable names in the world of streaming. Many creators have built huge names for themselves on the platform doing anything from cooking, to music, to playing video games. Depending on how many subscribers they have, streamers can make anywhere from a few dollars a month to thousands.
  2. YouTube Live. YouTube Live has recently become a phenomenal way for streamers to connect with fans because of the platforms already well established place in the world of video streaming. Many people are already active YouTube users and so the livestreaming aspect of the platform is just an added extension to a product that people are already familiar with. Viewers can donate to streamers affording them an income from the live content they produce.
  3. Bigo Live. Founded in 2014, Bigo Live is a powerful live streaming app that allows users to stream and interact with other users. You can earn anywhere from a hundred dollars a month to thousands depending on your content and followers. Bigo Live makes use of audience engaging tools such as stickers and gifts that can later be cashed out by the streamer. 
  4. TikTok Live. As one of the largest social media platforms in the world, TikTok affords creators huge opportunities to connect with new audiences. There are specific guidelines that creators must follow to make money on the stream but their livestream feature still exists as a powerful way to gain revenue due to the sheer amount of people on the platform.
  5. BuzzCast. BuzzCast seeks to establish connection between people through any number of different activities. Broadcasters can receive diamonds from viewers that are then converted to cash. Unlike some of the other streaming services, BuzzCast does not rely on one form of content for creators but rather possesses a huge diversity of popular creation options. 

These 5 streaming services are some of the biggest platforms in the world for generating revenue. However, as the market changes so will the competition. New platforms are being created every year and will afford creators and companies new opportunities to cash in on the world of livestreaming. Generating profit on these apps takes consistency and a dedication to the viewers. Despite this, if done correctly it can be a lucrative form of revenue production.

Current Trends in Live Streaming

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Live streaming is an ever changing platform that creators use to communicate with their audiences. These streams are constantly developing new standards, audiences constantly expect new unique content, and creators are constantly looking for the best new technology to help them generate their maximum revenue. Since live streaming seems to always be changing, it can be difficult to follow. That is why we are laying out the current active trends in the live streaming community, to help you stay in the loop.

Firstly, it is important to understand the growth of the streaming industry. Between 2019 and 2020, the industry grew by 99%. The following year, the industry experienced  21% growth. This trend in overall growth and development, and consistent increases in revenue is not expected to stop any time soon.

Getting into more specific trends, current audiences are moving away from long stories in live streaming. Enormous numbers of consumers reported to prefer short video content. Platforms like Instagram stories, and TikTok have fully taken advantage of this trend and heavily capitalize on it, dominating the short video content market.

Whether you are interested in learning more about live streaming or not, everyone should be aware of this next trend. Live streamed music is slowly phasing out traditional radio. Whether its creators showing off their playlists, artists releasing new music on live streams, or DJ’s giving a live audience a show, radio stations can not compete with the innovation and versatility of live streaming music. In the next several years, keep an eye out for your favorite radio stations shifting over to live streaming platforms to reach a wider audience.

Radio isn’t the only traditional platform on the decrease. Live television is rapidly losing popularity as well. Many experts believe that live sports will be the first to completely shift over to live streaming platforms. We see it now with many sporting events on ESPN+ and Hulu such as MMA, college sports, and even nationally televised basketball and football games. For many people, this rapid introduction of sports into live streaming platforms has gone unnoticed, so be sure to look out for your favorite programs, and sports to be taken off the air, and added to streaming services.

The last trend I will cover is creator collaboration. Studies definitively show that when creators collaborate in their content, and share the stage, numbers sky rocket. Their combined viewerships and sponsors respond very well to multiple creators working together in their content. This is a trend in live streaming that will be around for a long time as there is a direct correlation from creator content collaboration, and total number of streams and profit.

Top 5 Best Platforms for Live Streaming

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In recent years, live streaming has surged as a way to make money. From sharing video game clips, to vlogging, live streaming has developed into an efficient, and strategic way to make money in an amazingly short span of time. Today, there are an enormous number of apps and platforms for creators to stream their content, and for new streamers, it may be difficult to decide which platform is best for them. Because of this, we decided to lay out our top five choices for the best platforms to help you make money from your livestreams.

#1: Youtube Live

Youtube Live is the perfect platform for more experienced streamers with a larger following. This platform has built in functions that produce statistical reports on creators’ streams. If you choose to stream on Youtube live, you’ll have access to lots of extremely useful data for growing and monetizing your audience. Additionally, this platform gives you the option to archive your streams, allowing both you, and your audience to go back and rewatch live content.

#2: Twitch

When it comes to gaming, twitch is the ideal platform. In fact, it is the largest streaming platform in the world for gamers. Twitch offers a live chat feature which allows creators to interact and engage with their audience in real time. This will help you as a creator foster relationships with your viewers.

#3: Instagram Live

For individuals who have a large social media presence and are looking to become streamers, Instagram Live is the platform for you. The moment you decide to start streaming, all of your followers will be notified, and may tune in to your Instagram story. This is a great platform for gaining, and maintaining a large audience in a short span of time. Additionally, Instagram is one of the largest social media services in the world. Over 1 billion people worldwide have Instagram accounts. Furthermore, 500 million people per day tune in to watch instagram stories. If you want to grow your following in the fastest way you can, Instagram Live is the recommended platform.

#4: UStream

Although not as popular as some of the other streaming platforms, UStream has one of the best audience interaction features in the market. Creators can instantly chat and poll millions of people at a time. Additionally, facebook and twitter feeds are integrated into the software, allowing creators, and viewers to discuss trending topics, and news with ease. This platform also notifies viewers when their favorite creators are scheduled to go live.

#5: Vimeo

When it comes to reliability, Vimeo is always a sure thing. The software used on this platform was designed to handle unlimited streams, viewers, and content. Because of this, youll never have to worry about any technical difficulties. This award winning software also comes with a 24/7 live support feature, so both creators and viewers are able to ask representatives anything they may need help with. For new streamers looking to get started, vimeo is a great and easy platform to master your streaming skills on.