Go live and get paid: The rise of live online video content creators
OPPORTUNITIES Live videos can be extremely lucrative financially thanks to the massive rise of the format where people are constantly broadcasting everything from their daily routine to special events which in turn has given a boost to video hosting platf
The big bang from the explosion of online video streaming still resonates loud and clear. According to a study by media company Syndacast, video streaming accounted for 75% of all internet traffic in 2017 and is expected to jump to 82% by 2020. While traditional video content, including film and TV shows, is still being consumed massively by viewers, a paradigm shift in video consumption is underway with the advent of live streaming. Research by Video Brewery suggests that around 100 million people watch at least 1 live video a day. This colossal growth of live video has transformed scripted, rehearsed videos into spur-of-the-moment, bite sized snippets that are more real, impactful and interactive. Through live videos, everyone from dub artists to singers are showcasing their talent to the world. These talented artists are not just creating a community of loyal fans and followers, but are also making a significant amount of money.
THE RISE OF LIVE VIDEO
Launched in 2007, Livestream was the first platform that made live video popular among those looking to share their talent with the world. After the launch of Livestream, more individuals began delving into the live format of video content creation. Inspired by the live trend, Justin Kan, founder of video streaming platform Justin.tv, established the concept of ‘Lifecasting’. He strapped a camera to his cap, broadcasting the highlights of his day. That was just the beginning of live video, which would soon grow and evolve to the point where people would broadcast everything from their morning breakfast to daily routine to bedtime. The next major boost for live video occurred when YouTube streamed a live U2 concert from San Francisco in 2008.
Post this event, the company started streaming sporting events such as the 2012 London Olympics which garnered a massive response. YouTube then rolled out its live feature to all users who have a minimum of 100 subscribers. These interactive videos come with perks such as live comments and high quality picture.
Up until 2015, live video streaming mostly comprised of informal videos. This changed when Twitter launched Periscope, its in-house live video platform. Twitter, which had established itself as a social networking platform for CEOs and corporate higher ups, adopted Periscope as a professional marketing and communications platform. Hundreds of professionals now use Periscope to connect with customers and keep up with competition.
Today, the most popular live video platforms are Facebook and Instagram. People are live streaming videos of their work, life and parties while brands are streaming events and promotional activities. Facebook Live and Instagram Live allow content creators to send notifications before starting live videos to ensure higher engagement. They also allow real-time comments so creators can interact with viewers to deduce the kind of content they like and what aspects they can improve upon.
Earning money by creating video content is a straightforward process. If you create quality content, on platforms such as YouTube, you will eventually get enough subscribers to make your channel worthy of YouTube ads. Once ads are integrated into your videos, the cash starts rolling in.
Earning through live videos, however, follows a slightly different process. You can earn both directly and indirectly through live videos. Platforms such as DaCast and Vimeo pay through subscriptions and time bound paid access to videos. In this setup, your videos should be so compelling, that people actually pay to play them. Other platforms such as Facebook have live video setups with Ad Breaks that stream advertisements during videos. These Facebook Live ads are integrated with your channel when you reach 2000 followers and 300 live members in each video. A notification appears the moment your video becomes eligible for ‘Ad Breaks’ and that’s when you know your video has started making money. Similarly, Periscope allows performers to earn ‘Super Hearts’ that are equivalent to donations or tips from viewers.
LiveMe is another platform that allows users to earn through live video.
Product marketing is also a great way to earn through your live videos. Brands pay good money to established live video performers to mention, unbox or promote their products through dedicated videos. Once you are widely recognized on a live streaming platform, brands that match the personality of your channel will begin looking to collaborate with you.
HOW TO BECOME A LIVE VIDEO EXPERT
Getting paid through live video is not as easy as it may sound. The fact is, there are a lot of live videos that go unnoticed and do not garner any cash rewards. Simply clicking the ‘Go Live’ button will not get the followers you require to monetize your videos. The foremost priority of any live video performers should be finding the right community. A steady fan base that regularly engages with your videos will help you gain the kind of exposure and word-of-mouth marketing you need to get ahead in the game.
To create a sufficiently large viewer base, you need to ensure that you are on the right platform. Going live through a platform that is already immensely popular will easily get you more views. Adopt a video platform that caters to the kind of content you create to find followers that will relate to your videos.
Further, make sure you’re creating ‘new’ videos and not rehashing what’s already been done. Creating novel content that adds value to the lives of your viewers will ensure that your followers continue to follow you. Once you master this live video code, rest assured that they’ll hit play, and you’ll get paid!