Broadcasting live videos can be helpful in many ways. By using this technology, you can project your creative side to the world, provide them knowledge about a subject and explain your point of view on a hot issue.
The good news is that now you can make a hefty amount of money using this new form of video marketing. However, you need to be really professional if you want to make a career out of this new marketing tool.
In addition, there are different tricks and techniques that enable you to earn lots of money just by broadcasting video. There are some direct and indirect methods you can earn money.The direct methods include “pay per view” broadcasting or you can require subscriptions, while indirect methods require you to sell your broadcasting or you can make a deal with one or more sponsors.
Each of these methods has its set of pros and cons. Let’s discuss them in detail:
Pay Per View and Subscriptions
It is the simplest way you can make money from live video streaming.What you’ll do is charge money every time someone watches your video. There are also other streaming platforms which include a paywall option, such as DaCast.
In addition, you can find third party options which can be included in your services. In Player is one such example. Let me elaborate it more simply for you. The Paywall is a live broadcasting method that requires you to broadcast a video after a client makes the payment.
Once the client makes the payment, only then will he be able to watch your video. It has other options as well. For example, you can either pay for live streaming or you can demand a video. This is why paywall is considered the simplest among all.The client has to pay only once and then he can start viewing his desired content.
Let’s discuss the subscription option now. Subscription is a more sophisticated method than paywall. You might have heard about Amazon or Netflix. They follow the same criterion. In subscriptions, you have to pay monthly or periodically.During that entire period, you can watch as many videos as you want. It will expire only when your payment period expires. This method is very common nowadays as the clients just have to pay for 30 days and they can watch as many videos as they want.
Let’s now talk about the pros and cons of the paywall. The good thing about this method is that it allows a quick access to the video and allows the viewers to watch videos in higher quality.However, the biggest advantage of this method is that there are no ads attached in your video. Ads are a real ‘turn-off’ if you are viewing a video. Just imagine you are watching your favorite video and suddenly an ad appears. It just kills the pleasure of that moment.
The downside of this method is that it decreases your traffic as people do not like to get charged. This is the biggest drawback of this method. When your viewers have to pay for each video they watch, it definitely makes them think for a while and they might stop watching videos. Only a chunk of the audience would want to bear the expenses of watching your videos.
Advertising and Sponsorship
This is yet another way you can make money from live broadcasting.Once you agree to publish the ads of a sponsor, the ads will start appearing on the very bottom of your screen. This can be irritating for the viewers.But if they want to pay less then they have to go through this.Most of the times, the ads will be in the form of a video. It will automatically start as soon as someone plays your video.
Of course, it has its set of advantages and disadvantages. A prominent advantage of this method is that the client has to pay nothing. He just has to view a clip before watching the actual broadcast. This takes significantly little time.So anyone would prefer playing such video to avoid paying the money.
However, the major downside of this method is this that you need to get lots of audiences first before you can start paying for their ads. You have to prove to your sponsors that their ads will be seen by a big pool of audience. Once they are in a deal with you, they will pay you according to your traffic.The higher the traffic, the more they will pay.
It will require lots of effort and time to get the audience first. An active audience is what you need if you have a million of viewers but hundreds of active viewers then sponsors won’t pay you. Sponsorship is more likely about advertising but involves a sponsor bankrolling your video.
Driving Traffic To A Website
This is another way of making money from your video. You just have to drive traffic to a website where the broadcaster is already selling something. It is like whenever the viewer will click on your website, it will open a new website of the sponsor. This method follows the general rule of search engine optimization. It just includes a follow up action that results in getting revenue instead of selling advertising.
The advertising video in this method takes even less time to finish, so the viewers don’t have wait longer to watch the broadcast. In this way,the viewers don’t have to sit and watch the entire video before his broadcast starts. All they need to do is watch the original broadcast that will lead them to some other website. This method saves the viewers from paying any money. The viewers can even close the video if they don’t want to watch it till the end.
The biggest disadvantage of this method is that it is not certain. Whether or not the users watch the desired content, it is all upto him. The product or service which is being offered for the sale as well a show actually the click through opportunity is presented and organized makes as much difference as the quality and subject matter of the video itself.
One more thing you have to keep in mind, the users may find the content of another website more interesting and start surfing that website. But you have to play smart here; main motive is to get traffic.
This article is contributed by Scarlett Erin, a Digital Marketer, Writer, and a Blogger. In addition, she is a pro academic writer at assignment help UK. Her favorite hobbies include surfing, paragliding, canoeing, and skiing.