Livestream How to Monetize Your First Livestream Session as an Artist
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Due to the strenuous impacts that COVID-19 has caused on our society, many industries have been forced to find a new way to operate. With the entertainment business being one of the hardest industries hit, many musicians are turning to livestream technology to help supplement their income and connect with their fanbase. We’ve noticed many artists have been struggling to monetize these sessions to their full potential, and all of us at Play2Fund are hoping to fix that. Check out some of our tips below that will help make your livestream sessions the best they can be.
Livestream technology allows artists and fans to get a live-music and art experience from the comfort of their own homes. While this may feel different from being there in the flesh, it allows artists to connect with their audience and continue to share their music with the world. With live entertainment being scarce, fans are craving live entertainment now more than ever.
Check out some of our tips below to create the best livestream experience for you and your fans:
Choose Your Content & Plan Your Show
It is important to know what your stream will entail before you go live, including the general length and how you plan to interact with your audience.
Consider the following options when choosing what kind of livestream performance you wish to create:
The most common form of livestream, a live performance from a single performer or full band is engaging, exciting and the most personal way for a performer to connect with their fanbase. Bands can consider having one member perform a stripped-down set, or get the whole group together in a practice space to perform a full-scale show.
Streams of Past Performances (Pre-Recorded)
If you’re unable to stream a concert live or just feel like switching things up a bit, you can always consider livestreaming a pre-recorded past-performance. It’s always a bonus to share something that is previously unreleased or previously unavailable online!
In addition to streaming live music, many artists are also taking to online-lessons as a way to generate revenue. There are two ways to go about online lessons; one-on-one or with a group. One-on-one lessons can be charged by an hourly-rate, or you can choose to walk through a series of lessons in an open livestream where viewers have the option to tip. If you chose the latter, consider walking through songs from your own catalog.
Know Your Audience
When deciding what your livestream will entail, it’s important to understand your audience and create an experience that will be loved by your fans.
Fan interaction including Q&A’s, shout-outs and general acknowledgement of people in the chat can go a long way in engagement and tips. Here are some tips to make sure you have a good understanding of what your fanbase wants to see:
Communicate Via Social Media
Want a sure-fire answer to what your fans want to see? Go directly to the source. Ask your fans on Social Media what they want to see and hear and do your best to accommodate.
Offer Something That Will Attract the Most Viewers
If you’re hosting a live-performance, consider throwing in some tunes that you know will get people to watch. Advertising that you will be performing new songs or fan favorites can get a lot of attention and bring your view count up. If you’re streaming a pre-recorded performance, choose something that is unreleased and you know fans want to see.
Choose Your Time and Date Wisely
Ask yourself where the majority of your fanbase lives, or look at your Social Media statistics to get a precise breakdown. Choose your time zones accordingly and try to schedule something when the majority of your audience is free. It’s also smart to check out other artists in your genre to make sure your stream doesn’t overlap with another that your fanbase could be interested in.
Dial Down the Technology Aspect
A technical error during your livestream can end things quickly and look unprofessional on your part, which is why it is so important to understand the technology and run tests before you go live.
Make sure everything works in advanced
Test runs are key to success! Don’t go live until everything runs properly and you or someone you have with you knows exactly how everything runs. If something goes wrong while live, it’s of the utmost importance that you know how to fix the errors quickly and efficiently.
Good Camera is Ideal, Good Mic is Essential
When going live, it’s not a good idea to just use your computer microphone and camera. Your audience wants to hear you crisp and clear, so never underestimate the importance of a good audio-setup. A good, clear picture is always a plus too. The better quality your stream is, the more fans you’ll have tuning in and staying on.
When you have your date and time chosen for your stream, get to promoting and sharing the event with your fans!
Promotion is key to success and will ultimately lead to more viewers and more tips.
Schedule your Stream in Advance
Make sure you give your audience plenty of time to react and share your event online. Giving at least a week between the announce date and actual stream will allow your fans to hear of the event and clear their schedule for the show.
Utilize the Stream as Content
Many artists are struggling with content right now on social media. Most band and artist pages are filled with posts and photos of tour dates, news, recent shows and so much more, and COVID-19 has made it difficult to keep the same number of posts and reach you are used to achieving. Use livestreams as a way to fill up your newsfeed and get new content to your audience!
Don’t be Afraid to Ask for Help
Artists can often feel shy in asking for financial help when their driving passion in life is geared towards creating and not receiving.
Do not be afraid to ask your fans to give what they can to support your well-being!
Musicians around the world are turning to livestreams to help pay the bills, there’s no reason why you shouldn’t do the same. When creating your first livestream, ask yourself: “What can I do to stand out from the rest?”
Fans WANT to Support You
We know that you care deeply about your fanbase, and we want you to know they care the same for you. Do not forget that fans want to know you are happy and healthy and will do what they can to make sure you can still make a living during these trying times!
People are Craving Live Entertainment
Don’t sell yourself short in what you are doing with a livestream. People around the world are getting bored and restless staying indoors, and a live feed of their favorite artists performing the songs they love is much appreciated by all.
Encourage SM Engagement & Social Support if Fans are Not Able to Donate Monetarily
Support from your fans does not need to be from their pockets! Make sure to let your fans know on stream that if there are other ways to help besides monetary donations. Fans can support you by making sure they are following you on social media and sharing your stream and other works. If you ask your followers to share a stream within the first few minutes of you being live, your audience can grow substantially by the end.
With so much uncertainty looming around when live music events can return, it’s important for artists to think in terms of sustainability. Do not plan for things to open up sooner rather than later, instead try to dial down how you can make a steady living in the digital age. The world needs musicians and artists to create now more than ever, and we hope you will find your fans will be happy to support you if you give them the opportunity.