3. Video Publishing / Streaming Platforms
Twitch is a leading live video streaming platform, which caters to the viewers with videos of different genres, ranging from music, cooking, Q&A, and instructional sessions, to video games and everything in between. It is just like YouTube, but with live videos. Launched in 2011 by Justin Kan, Twitch made its initial impact catering to a niche of online gamers and was acquired by Amazon in 2014.
In 2019, Twitch streamed 2.72 billion hours, far surpassing YouTube with just 736 million hours of video streaming.
When your audience grows, so does your potential to earn money. But there are a few ways you can cash in as you’re still growing your following:
Twitch users like to support their own. One of the main ways they do this is by donating money to their favorite streamers. Add a “donate” button to your channel — via PayPal or a third-party app, such as Streamlabs — and let viewers show you the money.
Companies use Twitch streamers to get their products in front of people, and the streamers get a kickback in return. This is typically referred to as a partner or affiliate relationship (not to be confused with Twitch’s partner and affiliate programs, more on that later).
Affiliate opportunities for Twitch streamers can come from companies that sell hardware and software, energy drinks and accessories, such as headsets and chairs. Commissions vary, but for example, Razer — the hardware and software company — offers affiliates up to 20% commission on the sale of its products.
Brands don’t typically come to you unless you’re a big-time gamer. Talk with other streamers to suss out affiliate opportunities.
If you have a dedicated audience, consider selling your own merchandise — think t-shirts, stickers, coffee mugs and laptop cases — via a third-party site such as TeePublic or Spreadshop. Just create a storefront, stock it with items — bearing your own design or curated from other sources — and promote it on your Twitch channel.
While Twitch has been featured due to its high level of recent growth, it is far from the only video platform serving the passion economy.
YouTube is still the dominant player in the field, and mobile apps like TikTok are experiencing just as much growth, if not more. All of these companies offer creators the chance to monetize their video content.