If you are considering getting into content or media, the first thing you’re bound to consider is how you make a living from it. It’s a valid question. We all have to pay rent and streaming is a new industry that seems to have only just established the ins and outs.
So, what are those ins and outs? What are your monetary options when it comes to streaming? We break it down here.
Creator funds
If your aim is to make content, the first step you will make is to head to TikTok or YouTube to create your channel/account, which means the first bit of income you are likely to get is going to come from the respective Creator Funds directly from the platforms.
This isn’t the most ideal option. Users have a long history of problems with the Creator Fund and YouTube’s managing of guidelines. Just look up the term “adpocalypse” for a starter. TikTok is a new app, with less income, and therefore a smaller creator fund that is spread amongst more people due to the ease of creating short-form video content.
Although it’s the first option, it’s not the best, and many creators very quickly realize they’ll have to look elsewhere for sustainable income.
Pay-per-view
Pay-per-view has its benefits and drawbacks when you get into it. It is most popular with UFC boxing, where users can pay to see the fight live. Users can pay for a ticket to see the event, and see it only once, unlike a subscription service where typically you can play as much as you want as many times as you want.
This offers a powerful feeling of exclusivity, where users feel like they’ll miss out if they don’t tune into the live event and it can lead to a pseudo subscription service where users pay each time that they watch something on your platform.
However, the other side of this “exclusivity” coin is that it is considered a one-off. Something that they will pay for only if they are 100% sure they want to see it and will enjoy it. For this reason, leaked recordings of the event are often posted to the internet for casual viewer to watch for free.
Pay-per-view is lucrative, but it’s important you use the right tools to pull it off. Red Bee offers a range of features that will better allow you to stream around the world, into any device, with high quality content.
Subscription services
Subscription services are the natural next step above pay-per-view. When put side by side, users would probably rather go with a subscription service. PPV ticket prices can range all over the place, rarely lower than the expected $10 or less from streaming services like Netflix and Disney+. It is a lot easier to justify one $10 bill a month for access to a catalogue of content that you can watch as much as possible, than a $20 “ticket” to a one-off event.
The perk for creators and media managers is that you will gain a steady stream of income that way. You aren’t putting all your fruits in the one basket of the one event. Entertainment is subjective, so even if someone isn’t watching your True Crime content, they might subscribe for the comedy stand-ups.
Affiliate marketing
All the above are ways of taking money from your viewers directly, whereas a few creators don’t love that idea. There has been talk of people conscientiously objecting to opening a Patreon account for example, and instead going down the route of commissioned advertisements.
Affiliate marketing is the industry of embedding products and brands into your content for a commission, the most obvious example being YouTubers and podcasters who interrupt their content to talk about Raid: Shadow Legends, or Instagram influencers who tell you to swipe up to see these make-up brushes.