Yes! Here are some suggestions:
• Subscription or membership fees for premium content
Consider offering exclusive or premium content to your audience on a paid basis, such as behind-the-scenes footage or extended versions of your livestreams.
Offering your livestreams as part of a subscription is a way to generate recurring revenue. While this can work for any industry, it can be especially powerful for artists.
If your content is unique and engaging (i.e. intimate acoustic performances, taking song requests from fans), it will resonate with your audience.
• Sponsorships and advertising
Partner with brands to feature their products or services during your virtual events. Sponsorships and traditional advertising are the most common ways to monetize livestreams.
• Product sales
Livestreams are a great way to promote and hype up your new products and it’s simple to include a clickable link that’s displayed during the duration of your broadcast.
Affiliate sales are also common in the livestreaming space, especially among influencers and gamers. Affiliates typically promote a third party product and collect a percentage for each sale.
Especially beneficial in the nonprofit sector, consider accepting donations during your broadcast. Livestreams can be a unique fundraising tool, especially when compared to a typical social media post.
• In-stream ads
Businesses can use Facebook’s in-stream ad feature to show short ads during their livestreams, with revenue generated from the ad being shared between the business and Facebook.
• Virtual events or experiences
As we touched on above, whether you’re an artist, nonprofit, or enterprise business, getting creative with a virtual event is the perfect way to build buzz. If you’re an artist, consider a live performance where you charge a ticket price or registration fee to access the content.