Live Better Show, Ep. 19: How to Make Money Live Streaming in 2022 The top expert in the live streaming industry, Luria Petrucci, will explain how to make money live streaming in 2022. Tune in to learn time-proven and up-to-date techniques that will help you monetize your live shows. How to Make Money Live Streaming in 2022. With Luria Petrucci Would you like to make money live streaming this year? The top expert in live streaming industry Luria Petrucci will join us to explain how to make money live streaming in 2022. Tune in to learn time-proven and up-to-date techniques that will help you monetize your live shows. Timestamps for the episode: 5:30 – Hi Luria! 8:35 – Luria’s beginning of livestreaming career story Luria started back in 2015 doing videos shortly after she started livestreaming. Back then, she had no camera experience and even no desire to be on camera; she just saw the opportunity to try something new and wanted to move forward with it. 11:10 – The moment when Luria realized that people can make money with livestreaming? Even back in those days, there was traction and audience interest in the new option of online videos, and it was obvious that it would develop. 13:40 – Options to generate income with live streams To make the whole live streaming business beneficial, you should know the development points. There are numerous ways: Affiliate revenue Your own products and services Donations Sponsorships Live sales Memberships Indirect monetizations Partnerships Coaching and consulting Luria PetrucciLuriaPetrucciBuilding your reputation introduces many different opportunities that you are not necessarily expecting. 15:40 – The most straightforward model to start making money with streams For most people, affiliate revenue is the easiest way to get started. With affiliate programs, you have a link that links to you and brings a commission from promoting somebody else’s products. For example: Let’s consider the Amazon affiliate program. You create a stream around your topic, promote products that you already have used, and help people understand how to use them and the pros and cons of the product. 18:00 – The most lucrative option First of all, the monetization option that brings the most money is not the easiest one for sure. Here everyone can highlight different ways. For Luria, the most lucrative are private courses and consulting services. These things allow her to build a team of seven people that help with managing the business. 24:30 – Did you imagine that Live streaming would take such a big part in people’s lives? It became more prominent than I expected. Everything now has a live component; you can go live on every platform. When Luria first started going live, people didn’t even understand the concept; it was difficult even to explain what she did. 27:50 – How to stand out today to make money? You should understand your position in the market and clearly understand what you personally bring to it. Those personality pieces are the thing that helps you to stand out. Be yourself and mix it up with the existing content strategy. 30:35 – The first steps to a professional livestreaming career Knowing the content that you would put behind your show Understand what you are trying to accomplish Choose the setup you are familiar with or which is easy to master (Wave.video, for example) Streaming is fun, but it can also be a trap. If you start with an ultra professional studio and have all of the fancy equipment, but you have never been in front of the camera, people would see it. Enjoy Wave.video Live Streaming Check out Wave.video studioTry now! 38:40 – How to create the background for a streaming show studio? That is completely up to your taste! You can either put nothing, just a piece of blank photography backdrop paper and a light or two shining on it or make it complicated to bring a unique vibe. Decide how much effort you want to put into it. In the Luria case, she wants to make her viewers feel at home while watching her videos, so she has her living room as the background. Put some personality features behind there if you want viewers to catch you. If you are into books, put some books behind you. If you are into Mandalorian stuff, put some baby Yodas. 44:04 – What gives more profit – YouTube Lives vs. YouTube videos For sure, it depends a lot on your strategy and your experience. Ideally, it is effortless to use short recorded videos done with keyword research in mind; you upload them to your channel to find a new audience because people search for exact topics available online. Going live, you should consider the community aspect. You take that audience and make them go deeper with you. An excellent strategy to start with: Upload a recorded video once a week and go live once a week too. It helps you to get profit from both approaches. 45:45 – How much time does it take to plan a live stream? It depends a lot on the type of live. If it is a community-based event like open Q&A, it doesn’t take much time to prepare. Luria PetrucciLuriaPetrucciDon’t make any Q&As if you don’t have an engaged audience already! It’s the worst feeling ever. If it is an educational stream, preparations might take 30 minutes to 2 hours.