How can I monetize a live sports streaming website and app?
I'm looking to monetize my live video sports streaming website and app. What are my options?
Any suggestions would be greatly appreciated.
There are 3 major ways you can monetize your sports live streaming website.
Pay Per View
User data mining
Ad monetization is a form of content gating. It works like this.
Pre-roll - Ads run before the stream begins
Mid-roll - Ads that run alongside the live stream
Post-roll - Ads that run after the event
All these ads are cash cows. You can collect money from the advertisers for hosting their ads on your videos. Since they are live sports action, they are obvious to enjoy high traffic volumes. Show your viewership analytics as proof of viewership.
If you don't want to take the ads route, opt for pay per view. Your viewers can pay to watch the session alone and nothing more. They get uninterrupted and ad-free sports live streaming in return for a premium rate.
User data mining - I am not sure if this can be called a business model. But, the user credentials that your website collects when users sign up to watch the live stream can be sold to third parties for a sum. However, this might have legal implications. You need to ensure that you are informing your viewers clearly and also that it is legally permitted in your State or legal jurisdiction. End of the day, don’t breach user privacy.
I'd suggest you try Contus Vplay, is an intelligent video on demand solution comes pre-equipped with facilities for monetization in multiple modes. Pay per view, ad integration, subscription-based live streaming to cite a few.
One thing all sports fan have in common: supporting their team is imperative for them. With the abundance of live streaming websites, the fans make sure that they can all support their teams despite location barriers. Whether you’re streaming a league season, a championship or a charity tournament, carefully plan the whole process to make sure you get a solid ROI.
Let me list a few ways to successfully monetize your sports event live stream.
Subscription model - Pricing should be defined keeping the target base in mind. If you are providing regular video streaming, provide them with a subscription model. They can pay for the whole year or half yearly, in advance. Or, you can offer them passes, so that subscription need not be renewed every time. Or provide them with packages so that they can pick and choose.
Advertisements - Sponsorships and ads are yet another way to monetize the live stream. Add as many or as few ads as you like, and adjust them on the fly. But also make sure you keep the UI/UX in mind. Too many ads can irritate your customers. Make sure you have the ability to control the ads.
Donations - Online donations are fast-becoming a considerable source of revenue for live streaming websites. Embed a built-in “donate” button, so that viewers can show appreciation without navigating away from your broadcast.
Well, gamification can also be an option, there are a lot of concept coming up in the market now that allows users to play fantasy gaming based on real games. May be you can bring that aspect of gaming in your application since you are already streaming live data, it will be kind of nice to allow users to use those that feed to play fantasy game.
We can talk more about this if this interest you.
The ultimate goal of any business apart from being useful to the user is making a profit. Live streaming your events and productions to a worldwide audience can create real revenue for your brand.
You can make revenue through many strategies. Some are below..
Pay per view model
Ads with Google double click for publishers
A few seconds of video or several full-length feature films, you can make your video work and earn the profit.
Vplayed is a video streaming solution to build your million dollar video streaming website and scale it without any limits. Vplayed is fully equipped with highly advanced features that best befitting to build an online video streaming platform that streams flawlessly across the platforms. Furthermore, Vplayed solution is built with headway technologies enabling the user to explore the video content to the right people at the right time which helps in monetizing the video content over millions of users.
You can effectively monetize a live sports streaming website and app, with a platform called Audience Play, it is one of the best Audience monetization platform available for website and app owners, where you can monetize your audiences wherever they are beyond your website or app, Lifetime monetization opportunity even though your user leaves your website or app, your user can be targeted by multiple advertisers at any particular point in time. Give it a try!
According to this question, my queries mind wants to know if I provide live streaming TV channel will also block the system. Is there any option?
Hello Charlie Leo!
In fact, there are a lot of options to monetize your website, including the following:
A commission is a model when a transaction happens on your website or app. The strategy gets a piece of each payment and is considered to be one of the most popular tactics. The main advantage of this monetization strategy is that it starts working immediately and scales perfectly.
2) Listing fees and premium listings
A listing fee is an amount collected from the seller when they list their products for sale. Applying this model, keep in mind that a website needs to be significant and recognizable for users to be ready to pay listing fees.
Premium listings serve as indicators for making sellers’ offerings more visible, ranking them to the top. As a rule, it starts with listing fees, with further updating to the premium version, once scale is reached.
3) Subscription fees
A subscription fee is a model where either some or all of the users are charged a fee to get access to the marketplace. It includes monthly or yearly payments for a certain set of features.
This business model allows third-party advertisers to promote their goods, services, etc. It means they pay to publish the advertisement on your site.
5) Lead fees
When transactions take place outside your platform, then lead fees may be the right solution for you.
It means that your users have to pay to get access to detailed information about the information they are interested in. For example, dating websites primarily use this revenue model.
If you still have questions, read the following article to find the answers: https://www.codica.com/blog/successful-online-marketplace-revenue-models/
There are some excellent answers below so I'd just like to add this thought. Focus on getting traffic and building community first if you don't already. Adding that kind of value will open the doors to a multitude of ways you can monetize.
At that point, I'd recommend finding long terms sponsors of 6 months+. Create packages and pitch them to companies. This has effectively been done by others at $20,000 plus a year. That way you can make good money with just a handful of sponsors and you have more control of what's being shown on your site over random ads.
You have to be able to add value for companies to pay that though. Healthy Traffic + Engaging Follwers= More $$$
I hope this helps.
Steven J Wilson
Digital Marketing Consultant