The increasing trend of people making money online as their primary source of income is more prominent than ever. The global influencer market reached $21 billion in 2023, compared to $16.4 billion in 2022.
One key component of many content creator strategies is video monetization. But, with so many options out there to choose from, it can be overwhelming to find the best platform to start this process. In this post, we will explore the best video monetization platforms for 2024, helping you maximize your revenue.
Understanding video monetization
Video monetization transforms videos into revenue. It has recently gained a lot of popularity, coinciding with the rise of a staggering 200 million self-identified creators – a very tempting business idea as it allows people to convert their hobbies or passions into sustainable income streams.
Live streaming, in particular, is a unique avenue for video monetization. Livestreams present distinctive and valuable content that is personal and helps cultivate a dedicated and committed online audience.
💡 Did you know? Live streaming is one of the best ways to monetize your video content. Over 7 billion hours of live-streaming content was watched in 2022!
Different monetization models
There are several ways to monetize your videos, depending on the platform you’re using and your goals as a content creator. Here are the most common:
Pay-per-view model
Pay-per-view (PPV) allows viewers to pay a one-time fee to access a specific video or a livestream. Pay-per-view (PPV), also known as Transactional Video On Demand (TVOD), enables viewers to pay a one-time fee to access specific videos or livestreams. This model is particularly beneficial for events like conferences, concerts, or premium courses. TVOD is an excellent choice for creators offering exclusive, high-value content, allowing them to monetize specific pieces without requiring a subscription commitment.
Subscription model
The subscription model means viewers pay a recurring fee for access to a catalog of videos or livestreams. This is best for content creators with large content libraries or those who consistently release new content.
Widely adopted by video content creators and streamers, the subscription model offers the potential for predictable recurring revenue. In the context of video-on-demand content, this model is commonly referred to as SVOD (Subscription-based Video On Demand). SVOD is great for creators with a steady output of content or those fostering a loyal fanbase that values continuous access to a stream of engaging videos.
Advertisements and sponsorships
AVOD (Advertising-based Video On Demand) involves earning revenue through in-video advertisements or direct partnerships with advertisers and sponsors. While this model can bring in significant revenue, it comes with potential downsides, such as the variability in earnings and the impact on viewer experience.
This is why creators must strike a balance, ensuring ads enhance rather than disrupt the viewer experience.
Donations/tips
The donations/tips model lets viewers voluntarily contribute funds to the creator periodically or during livestreams. Platforms like Twitch have Bits, while TikTok uses Diamonds to promote donations.
This model thrives in scenarios where creators foster strong community engagement and viewers feel compelled to express their appreciation through financial contributions. Donations can serve as an immediate and flexible source of income, allowing creators to monetize their content while building a sense of camaraderie with their audience.
Hybrid models
Combining different monetization methods to optimize revenue, hybrid models are the most flexible option. Creators can tailor their approach based on content type, viewer preferences, and other factors, so choosing a video monetization platform that supports multiple models is important for offering this flexibility.
By blending elements of PPV, subscription, advertisements, and donations, creators can diversify their income streams and adapt to the evolving landscape of viewer expectations and industry trends. The key lies in understanding the unique strengths of each model and leveraging them in concert to maximize overall revenue and audience satisfaction.
Top video monetization platforms in 2024
Video monetization platforms have become indispensable tools for content creators and businesses looking to capitalize on the immense popularity of online video content. These platforms offer a diverse range of features, catering to creators looking to generate revenue through both on-demand and live content.
Choosing the right platform is important for creators, as it depends on individual requirements for creating and sharing video content, encompassing considerations like streaming capabilities, ease of use, content ownership, viewer engagement, and monetization options.
Let’s look at the top video monetization platforms in 2024.
WpStream
WpStream is a top choice for video monetization in 2024, as it has a wide range of features that make it a great contender in the industry.
- Support for all major monetization models: The platform provides creators with the flexibility to implement various monetization models, including pay-per-view, subscription, advertisements, and donations. This versatility lets users tailor their revenue strategy to the unique demands of their audience and content type.
- Monetize both live and on-demand content: WpStream understands the importance of catering to different content formats, which is why they make sure creators can take advantage of monetizing all of their content, no matter if it’s a livestream or an on-demand video.
- Full control over content and appearance: Creators using WpStream retain complete control over their video content and how it is presented. This control extends to customization options that can be used to align the branding and aesthetic preferences with the viewing experience.
- Compatibility with any streaming setup: 92.3% of internet users access the internet via their phones – and WpStream recognizes this. From those using a simple laptop or mobile device to professionals employing advanced broadcasting equipment, this platform is adaptable, accommodating any streaming setup.
| Pros | Cons |
| The platform supports various monetization models. | As WpStream is a WordPress plugin, you’ll need an active WordPress site to host your content. |
| Creators retain full control over content and appearance. | |
| Compatible with a range of streaming setups. |
YouTube
Already arguably one of the most popular video content sites in the world, since 2011 YouTube has also offered a dedicated streaming platform for its creators in the form of YouTube Live. This titan of the video content industry offers a range of powerful features to its resident creators:
- Massive audience reach: As one of the most popular video platforms globally, YouTube offers creators access to a vast audience. This reach is a substantial advantage for those looking to maximize viewership and potential monetization.
- Integrated monetization options: YouTube provides multiple monetization options, including advertising revenue, channel memberships, Super Chat, and merchandise shelf integration. This allows creators to tailor their monetization strategy to suit their content and audience.
- Live streaming capabilities: For creators already established on YouTube, integration with the live version is easy. This ensures a smooth transition and access to existing subscribers, leveraging the creator’s established online presence.
| Pros | Cons |
| Access to a large and diverse global audience. | YouTube takes a percentage of ad revenue and Super Chat earnings. |
| Integrated features for multiple revenue streams. | Live streaming on YouTube may encounter technical problems such as buffering, latency, or sudden disconnections. These issues can disrupt the viewer experience and result in a loss of audience engagement. |
| Easy live streaming options for existing YouTube creators. | When viewers want to engage in real-time, they have to sacrifice high-quality video. Opting for engagement means settling for a lower-quality stream. |
Twitch
Twitch is famous in the gaming community. With over 140 million users, it has taken gaming video content to new heights. While primarily a live streaming platform, Twitch does enable creators to make their streams available as VOD content post-broadcast. Key features of the platform include:
- Dedicated gaming community: Twitch has carved a niche as the go-to platform for gaming content. Creators tapping into the gaming community benefit from a dedicated audience, creating opportunities for specialized monetization strategies.
- Subscriber and Bits system: The platform allows viewers to subscribe to channels and purchase Bits to support their favorite creators directly. This support system enhances the revenue potential for content creators, especially in the gaming and esports spheres.
- Interactive features: Twitch has a strong emphasis on viewer interaction, with features like live chat and audience participation. These interactive elements contribute to a dynamic and engaging viewing experience, potentially increasing monetization opportunities.
| Pros | Cons |
| Specialized platform for gaming and esports content. | Although popular among gamers, Twitch may not cater as broadly to other content genres. |
| Subscription and Bits system for direct viewer contributions. | It can be difficult to moderate channels. |
| Features enhance viewer engagement, promoting a community within your streams. | Content only remains on Twitch in VOD format for the first 24 hours. |
| Twitch uses a third-party payment processor, which charges a fee for any payments made. These fees vary. |
TikTok
Most people have now heard of TikTok. As one of the largest growing short-form content platforms online today, people are also turning to it for their livestreams. Its key features include:
- Short-form content dominance: It’s all about short-form on TikTok. Creators who excel in bite-sized entertainment find a dedicated audience on this platform.
- Live gifts and diamonds system: TikTok enables creators to earn income through live gifts and the Diamonds system. Viewers can purchase virtual gifts, converting them into Diamonds that creators can cash in for real money.
- Global exposure: It offers global exposure, making it a powerful platform for creators seeking to showcase their talent to a diverse audience.
| Pros | Cons |
| Ideal for creators focusing on concise, impactful, and short content. | It is not a platform for long-form content. |
| Monetization through virtual gifts during livestreams. | Potentially over saturated and difficult to get noticed. |
| Features enhancing viewer engagement and promoting a community within your streams. |
Vimeo
Since starting in 2004, Vimeo has been a popular video content site. Its key features include:
- Monetization through subscription and paywall: Vimeo Livestream supports monetization through subscription models and paywalls, providing a sophisticated approach for creators looking to generate revenue from their premium content.
- Professional quality streaming: It caters to creators requiring high-quality streaming solutions. It is particularly suitable for businesses, events, and creators emphasizing professional production standards.
- Branded and customizable player: Creators can maintain brand consistency with their customizable player, ensuring a polished and professional appearance.
| Pros | Cons |
| Ideal for businesses and creators emphasizing professionalism with its branded and customizable player. | May be more tailored to professional use rather than individual creators. |
| Monetization through sophisticated models (i.e., subscription and paywalls). | Not as well known to younger audiences if this is who you are targeting. |
Dacast
Dacast is a host, monetizer, and broadcaster with an end-to-end livestreaming solution. Its key features are:
- Monetization through paywall and subscription: Dacast supports monetization through pay-per-view and subscription models, making it suitable for various content creators, from independent individuals to businesses.
- Unified streaming platform: It offers an all-in-one solution, combining live streaming and video hosting. This approach simplifies the streaming process for creators.
- White-label video player: Creators can maintain a consistent brand identity with Dacast’s white-label video player options, providing a professional and cohesive viewer experience.
| Pros | Cons |
| Unified platform for live streaming and video hosting. | Cost may vary depending on individual requirements and needs. |
| Supports pay-per-view and subscription models. | There is no integrated live chat or reactions that some of the other platforms have. The site recommends third-party apps for this. |
| Reviews have suggested poor customer service. |
UScreen
Although not as well known as others on this list, UScreen is still a great platform to note for your video content monetization in 2024. Its features include:
- Video on demand: UScreen places a strong emphasis on video-on-demand (VOD) content. Creators focusing on building a library of on-demand videos find a suitable home on this platform.
- Subscription and one-time purchase models: It supports both subscription-based and one-time purchase models, providing flexibility for creators to choose the monetization strategy that aligns with their content and audience.
- Customizable apps and websites: Creators can build a custom-branded streaming service with UScreen, allowing for a fully branded and immersive viewer experience.
| Pros | Cons |
| Ideal for creators building a library of on-demand content and those looking to build custom-branded apps. | According to some reviews, customer service on this platform isn’t great. |
| Supports subscription and one-time purchase models. |
Selecting the ideal video monetization platform depends on your individual needs, content types, and business goals. WpStream, with its support for all major monetization models, flexibility for live and on-demand content, and compatibility with various streaming setups, emerges as a strong contender.
Creators emphasizing reach may find YouTube’s massive audience beneficial, while those in the gaming realm might lean towards Twitch’s dedicated community. TikTok excels in short-form content, Vimeo suits professional needs, and Dacast and UScreen offer comprehensive solutions with various monetization options.
By carefully evaluating each platform’s strengths and limitations, you can navigate the complex landscape of video monetization in 2024, ensuring a strategic and lucrative approach to content creation and audience engagement.
Factors to consider when choosing a video monetization platform
Choosing the right video monetization platform can be a daunting task. There are lots of factors to consider, and making the wrong choice can have a negative impact on your earnings:
- Monetization model support: Make sure the platform aligns with your preferred monetization model, whether it’s pay-per-view, subscription, advertisements, or donations. The versatility to choose the model that suits your content and audience is important.
- Control and customization: Creators who value maintaining a unique brand identity and aesthetic should opt for platforms that provide ample customization options.
- Audience type and size: Different platforms cater to diverse demographics, and understanding where your audience resides will contribute to effective targeting and engagement.
- Compatibility with video setup: Whether recording or streaming your video content from a simple laptop or using professional broadcasting equipment, your chosen platform should seamlessly integrate with your workflow.
- Pricing: Assess the pricing structure of the platform and how it aligns with your budget. Understand the costs associated with features, storage, and viewer interaction to make an informed decision.
- Content policies on social media platforms: While social media platforms may seem tempting due to their wide reach and generally lower costs, be mindful of their stringent content policies. These policies can limit a content creator’s flexibility and control over their content.
Platforms like WpStream offer distinct advantages for serious content creators, particularly those focused on live streaming and effective monetization. WpStream provides support for various monetization models, grants creators full control over their content and appearance, and is compatible with a wide range of streaming setups.
While social media platforms may offer immediate reach, the long-term benefits of using a professional platform like WpStream, including enhanced freedom and control, make it a better choice for creators intent on building a sustainable and lucrative presence in the world of online video content.
Start monetizing your videos today with WpStream
Choosing the right video monetization platform is important to unlocking the full potential of your content.
WpStream has a user-friendly interface, great features, and dedicated customer support. Unlike other platforms, WpStream is designed specifically for video monetization, which means you get all the tools you need in one place. Plus, WpStream offers competitive pricing plans, ensuring you keep more of your hard-earned revenue.
Start monetizing your videos today with WpStream and turn your passion into profit. Sign up now and join the growing community of successful content creators earning a living doing what they love!
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