The livechat can be monetised as well!
YouTube is taking on Facebook and Instagram Live head-to-head with its live streaming feature.
Arguably the world’s largest video-sharing site, YouTube has long featured live streaming through desktop since 2011. However, it’s odd that we have heard surprisingly so little about this function from the video-sharing giant. But now in the face of competition from Facebook, Instagram, Snapchat and other social platforms, it has finally upped the live-streaming game by bringing this feature to its mobile app.
Well, a bit late to the party we think, but better late than never.
With this first initial launch, it’ll only be available to channels with more than 10,000 subscribers. Besides giving these influencers a head-start, YouTube is also working with them to iron out any kinks and refine the experience.
Once this proves successful, YouTube will make it available for everyone.
How It Works
For channel creators, there’s no need to download a separate app; the feature is built into the YouTube app. The Live button will be made available at the top of the app.
After tapping the button, all you need to do is write the title and use an existing photo or take a new one for the thumbnail and start streaming. The privacy setting is the same – either public or view with link – and if you choose public, it may appear on your playlist or recommendation list.
Additional Income Stream For YouTubers
YouTubers usually make money through advertising. But now there’s another way to earn some moolah.
As with any live streaming features, you get to engage your viewers in a live chat. However, unlike its competition, YouTube gives you the option to monetize it.
Introducing the Super Chat feature, which is a great way for you to earn whilst your most ardent supporters get to have their comments ‘heard’ above the noise. From as low as $1.00, viewers get to have their comments highlighted and pinned for up to five hours, and the more they pay, the longer their comments stay pinned.
To the casual subscriber, this might be a waste of money but those who are willing to pay can be your biggest source of inspiration. They are serious about you and your channel, so you’ll benefit from their paid comments.
However, since negative comments often garner the most attention as people either love to add fuel to the fire or try to ‘defend’ you, this could also possibly be a double-edged sword.
Great Marketing Tool
There are endless ways this could be used as an interactive marketing tool for companies – whether it’s to roll out product launches, create awareness, announcing an upcoming event etc.
Also, the live chat lets customers ask questions, and the experience is authentic and personal even though it’s done digitally. People buy from those they trust, and one of the ways trust is built is through live interaction. So companies can take advantage of the live streaming and live chat features to give a ‘face’ to their brands.
Besides companies, those in the teaching or coaching professions (even freelancers in writing and graphic designing) can also take advantage of the live streaming and live chat features. They can share their knowledge in friendly bite-sized pieces, and if viewers like the way they teach, they can engage the creators’ services.
Is Youtube too late to the live-streaming game? Let us know your thoughts in the comments below!
