There has been a steady rise in live streaming of conferences in the past ten years. Conferences as such are a wonderful opportunity to nurture relationships, start networking, exchange information, discuss best practices, and more.
If your company is organizing conferences or has plans to organize one, time has never been better to start live streaming as well as monetizing your streamed content.
There are many arguments that are in favour of monetizing live stream conferences. It is estimated that the video streaming market will be growing at an impressive rate, from approximately $30.29 billion in 2016 to $70.05 billion in 2021. This is due to the fact that people simply love watching live events and there’s no sign of a slowing down, either. Available technology has made live events more and more accessible than ever.
Live stream conferences, as we mentioned, can be rewarding in many ways even in a simpler way: by making money. In fact we recommend that you consider how to monetize live stream conferences to boost visibility and reach a broader audience.
The number one opportunity to generate revenue from your live stream conferences is the PPV model. To access the conference talks, viewers typically enter a credit card number and are charged a set amount. Once a viewer has paid, he or she can watch the event live or on-demand.
Charging for access to content is a viable business model for many well-known companies as we can see from streaming subscription services like Hulu and Amazon Prime.
The PPV model works best when you have original content that people want to see. Your content is your chief asset, whether it’s monetizing live stream conferences, sports events or live concerts. By charging for access, you’re placing value on your content, which is the point of doing it in the first place (providing value and quality for your audience). It’s also worth considering the fact that often people are charged to attend the event in person, so charging for your live stream is consistent with that policy.
Your live stream conference can become even more valuable with a little help from your viewers. The revenue you’ll bring in from pay-per-view can allow you to stream additional events in the future and cover the costs for the equipment, effectively expanding and improving your program.
Choose Suitable OVP
An online video platform (often abbreviated to OVP) is a tool for managing, storing and delivering your online videos. That means they provide the storage, servers, and infrastructure for live stream conferences or any other event of that kind.
Getting video monetization up and running is relatively simple. You can use the list of OVP platforms InPlayer is integrated with: inplayer.com/integrated-ovp. An OVP makes this process really easy. It should only take you a few minutes to set up a pay-per-view live stream and begin collecting income.
Another online video platform feature that may be especially important is an integrated paywall. This has a numerous benefits. Integrated paywall helps with security by reducing the chances that a freely-accessible video with no paywall will be embedded into other domains. Also, it makes the process seamless by removing the navigation step and making everything clear for your viewers: entering payment information, and enjoying the video afterwards.
Promotion and Ads
Pay-per-view isn’t the only way to monetize your live stream conferences. Depending on the size of your audience, you can also explore sponsorships and ads as another common method.
This can take the place of in-video ads or ads on the web pages that host the videos. Advertising depends on a large number of people watching your live stream conferences. Ad-blockers are on the rise and they’re seriously cutting down on advertising revenue.
You can generate more buzz by highlighting sponsors in your stream. Streaming conferences greatly extends how people are able to access it. It can also integrate around hashtags and social media conversations. Look at Tableu Conference as an example of this. They are building on their success by successfully promoting their live stream conference, and social media.
Sponsorships and ads are a wonderful way to get your community involved in your live stream conferences. There are typically two types of sponsorship opportunities:
- Dynamic: Dynamic ads are produced live as part of your video as long as your software allows commercials or put sponsored graphics over your broadcast. They work regardless of whether you’re using YouTube or sophisticated platform provider.
- Static: Static ads revolve around the portal or web infrastructure around the video. They’re static meaning users will see those ads when they browse to the website whether there’s a live event or not. You can use this space on your website for local business advertisements or to thank sponsors, for example, and viewers can click through to visit their websites.
When you consider how to live stream a conference, it may seem challenging. However, the technology has advanced a great deal in recent years. Live streaming has entered the mainstream and continues to do so all the time.
Also, if you’re going to leverage video for your live stream conferences, make the most of it. The industry now has audience interaction and engagement that can make viewing a conference as captivating as attending in-person. Get your audience involved by using social media, chat, surveys, even polls. This engagement will inevitably lead to success as your audience shares their enthusiasm with your conference.
Live streaming of conferences and conventions is cost effective and provides a high amount of value thus becoming the norm. Streaming allows you to reach a larger audience. If your event sells out, more people can attend virtually and this results in generating income. Hopefully more and more producers of digital content will make informed decisions about live streaming conferences and the benefits that come with it.