5 Best Live Streaming Apps To Make Money 2023
According to a study, the global live stream market is expected to be about $224 billion by 2028.
Up until a few years ago, people may not have realized the true potential of the best live streaming apps to make money 2022.
Although there are many live streaming platforms that influencers and brands use to connect with their audience and make money, each one is suited for a different purpose and a different type of audience.
Here are the top live stream apps you can use to earn money live streaming:
- YouTube Live
- Facebook Live
- Instagram Live
- TikTok Live
Let’s take a closer look at all the best live streaming apps as well as how you can monetize them.
Disclaimer: If you buy something using the links in this article, I may receive a commission at no extra cost to you. Know that I only promote stuff that I use and trust for the sake of my readers and the reputation of this site.
What is a Live Streaming Platform?
A live streaming platform allows you to upload and broadcast videos online in real-time.
Unlike pre-recorded videos, live streams are not recorded and edited.
This enables live streamers to truly connect with their audience on a more personal level.
Here are some of the top live streaming platforms that you can use to grow your business and connect with your audience.
Best Live Streaming Platforms To Earn Money In 2022
1. YouTube Live
YouTube videos are a major source of entertainment and information for the platform’s 2 billion+ active users.
More than a quarter of internet users around the world spend time watching videos on YouTube.
It’s no wonder why YouTube is one of the most popular live-streaming platforms today.
YouTube Live Pros
- Simple live streaming – just click on ‘Go Live’ from your mobile app.
- Subscribers get automatic instant notifications whenever they are live streaming.
- You can live stream from your computer if you want to share your screen.
- The Live Control Room offers robust analytics so that you know how many of your viewers are watching and engaging with your live stream in real-time.
- Followers can send you money through your live chat.
- You can embed your lives on your website or social media handles.
YouTube Live Cons
- You need at least 1,000 subscribers if you want to live stream from youTube. You will also need to enable live streaming for your account.
- You do not have access to your user data such as account details, email addresses, etc.
- YouTube will show its branding on your videos no matter where you embed them.
- You earn only a portion of ad revenue from the platform, and this varies for each channel.
- You have the risk of demonization if you violate their terms and conditions.
YouTube Live Monetization Methods
There are four main monetization methods with YouTube Live Streaming:
1. Ads on live streams
You can earn ad revenue by displaying ads on your live stream videos.
Your followers can pay to get their messages featured in Superchat during your live stream.
You can watch this video for more information on Superchat:
3. Channel memberships (for advanced YouTubers)
Your fans can purchase channel memberships to get access to public badges, emojis, and other creator perks offered by your channel.
4. Brand sponsorships
Get paid to promote your favorite brands and products through sponsored content on YouTube Live.
YouTube Live Pricing
YouTube Live is free to use.
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2. Facebook Live
Facebook Live is more popular than other live-streaming apps since it is the biggest social media platform in the world with more than 2.9 billion users worldwide.
Content creators can make money from their live streams with ads.
Facebook Live Pros
- You can automatically save and post your Facebook live streams
- Engage with your followers in real-time through comments and reactions
- Notify your followers ahead of your live event up to one week in advance
- Choose to go live from your personal profile, Facebook business page, or Facebook group
- Find your audience easily on the platform
Facebook Live Cons
- You need to have more than 10,000 followers on Facebook before you can enable live streaming.
- You will also need to have at least 5 videos
- To enable in-stream advertising, you will need to accumulate 600,000 minutes of video views in the last 60 days, and 60,000 of those minutes must be Facebook lives
Facebook Live Monetization Methods
You can monetize your Facebook live streams with in-stream ads.
When you set up your account for in-stream ads, Facebook will review your Facebook page to see if it meets the criteria required for monetization.
Once approved, you can start earning from your in-stream ads.
Facebook Live Pricing
Facebook Live is free to use.
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3. Instagram Live
Instagram is no longer just a photo-sharing app.
As of 2021, the platform is now promoting live broadcasts and other kinds of video content from content creators.
That’s why I’ve added Instagram to this live streaming app list.
With the new features that the platform has added, it has become easier for content creators to earn money online from their live streams on Instagram.
Instagram Live Pros
- Instagram allows you to go live instantly with its Go Live button.
- Once you start live streaming, your followers will see your profile picture highlighted, and they can click and join your live feed easily.
- You can invite people to join your live feed once your feed has started.
- You can also join or invite other content creators into live rooms.
- Instagram also offers different filters and fun overlays that you can use while live streaming.
Instagram Live Cons
- No real cons with this platform since anyone can choose to go live, no matter how big or small their account is.
Instagram Live Monetization Methods
Here are the monetization methods for Instagram live streams:
1. Instagram Live badges
Viewers can now purchase badges to support their favorite creators during Instagram live streams.
These badges will help creators generate income from their live content.
Badges will allow viewers to unlock additional features during Instagram Lives.
2. Instagram in-stream video ads
Instagram will display in-stream ads during your live videos and will give you a part of the ad revenue they make from your live videos.
3. Donations from followers
When you start a live video, your followers can donate to your account if you are hosting a fundraiser.
Instagram Live Pricing
Instagram Live is free for all to use.
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4. TikTok Live
TikTok has more than 1 billion active users on its platform, making it possible for content creators to find their target audience and start making money from TikTok lives.
Initially, TikTok allowed users to post videos that were only 15 seconds long. They gradually increased it to 3 minutes in July 2021.
Recently, TikTok launched Live Events hosted by creators, which viewers can register for and get notified of.
TikTok Live Pros
- If you have more than 1,000 followers on TikTok, you can live stream for as long as you want without a time limit.
- Live Events allow you to collect information through registrations from your viewers.
- Your TikTok lives can be viewed picture-in-picture so that your viewers can watch your lives while they multi-task.
- You can go live with other TikTok users.
- Get discovered by your target audience with TikTok’s Top Lives category.
- You can add moderators to your TikTok Livestream to monitor the live video chat.
- Keyword filters help you moderate your comment section.
- Accept gifts with a monetary value from your viewers.
TikTok Live Cons
- You need to be based in one of the following countries to access TikTok’s monetization features: US, UK, France, Italy, Germany, or Spain.
- You must have more than 10,000 followers and 100,000 video views in the last month to earn real money.
TikTok Live Monetization Methods
There are two ways you can earn money from your TikTok life:
1. Accept donations from followers
Followers cannot send you money directly as donations, but they can purchase TikTok coins for cash and then send those coins to you.
You can convert your TikTok coins into TikTok diamonds, and then redeem them for real money through PayPal.
You will. however, need to accumulate at least $100 worth of TikTok diamonds/ coins to withdraw your earnings.
2. Brand sponsorships
Another way you can make money on TikTok is by brand sponsorships.
You can promote your favorite brands on TikTok and make money through sponsored live videos.
TikTok Live Pricing
TikTok Live is free for all to use.
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Twitch is a platform mainly for those interested in playing games while live streaming.
Twitch streamers play games and stream their gaming content for their audience to see.
You can also stream using Twitch streaming software.
Unlike many platforms on this list, Twitch’s main audience consists of gamers, which makes it a great platform to use to increase game sales.
Another way to make money from the platform is through sponsored content or brand sponsorships.
- With Twitch, you can have live comments on your live streams so that you can connect with your audience.
- Cheermotes and emote slots to increase engagement and earnings.
- You can schedule live events for your followers.
- You need to have at least 7 separate live streams and 500 minutes of live stream video in the last month to monetize your Twitch account.
- You need to have at least 3 viewers on average for your live streams in the last month.
- You need to have at least 50 followers on your Twitch account to earn extra money by monetization.
Twitch Monetization Methods
There are two monetization methods that Twitch offers:
1. Twitch Affiliate Program (for beginners)
The Twitch Affiliate Program is aimed at entry-level users who are committed to growing their following on the platform.
Once you meet their minimum criteria, Twitch will pay you a part of the revenue they earn so that you can get the support you need to grow your account.
2. Twitch Partner Program (for experienced streamers)
The Twitch Partner Program is meant for more advanced users who have already grown a large audience on the platform.
Once you have entered either one of their monetization programs, you can earn real money through
Twitch Subscriptions, Bits, Video game sales, donations, and ad revenue.
Twitch is free for all to use.
Monetizing Your Live Streams
There are three main monetization methods you can use to make money from live streams:
Most live-streaming platforms offer to serve ads along with your live streams and give you a percentage of the total ad revenue they earn from it.
Brand deals and sponsorships
You can work with brands in your niche to promote their content on your live streaming channel.
You can join an affiliate program for your favorite brands and promote their products in your live stream channel using the unique affiliate link they assign you.
Twitch, on the other hand, offers different ways of monetization depending on how big your live stream audience is.
Frequently Asked Questions (FAQs)
Q1. What’s the best platform for live streaming?
YouTube is one of the best and most popular platforms for live streaming in 2022.
Q2. Where can I live stream for free?
There are many platforms that allow you to live stream for free. Some of them are YouTube, Facebook, Instagram, TikTok, and Twitch (for gamers).
However, most of these platforms have some sort of criteria you need to fulfill
(such as having more than a certain number of followers) before you can start live streaming for an audience.
Q3. What equipment do you need to live stream?
You could live stream using just your smartphone or computer webcam.
However, for higher quality live streams, you could choose to invest in video cameras, microphones, and lighting equipment.
Q4. How long can I live stream for?
That depends on the platform you are streaming on, Most of the platforms on this list allow you to
live stream for as long as you want as long as you meet certain criteria.
Q5. How much do the various live streaming platforms pay?
Although there are some live streaming platforms that pay you directly depending on the number of followers you have
and how many hours of video content you stream every month, most of them are not safe to use.
The apps on this list are safe to use due to high standards of content moderation.
You can monetize these platforms in different ways such as in-stream ads, affiliate links, etc.
Live streaming has caught on in the past few years.
Live stream videos are a great way to make money online in 2022, and you have some great options to choose from:
- YouTube Live
- Facebook Live
- Instagram Live
- TikTok Live
All these platforms are free to live streaming platforms that help
you connect with your audience while making money from your live content.
Choose the one that suits your business.
This could mean looking for the best platform where your target audience spends most of their time.
For example, if you are a gamer, then Twitch would be the right platform for you.
Which is your favorite live streaming platform? Let me know in the comments below! 🙂