Live streaming has found its way into the music industry and it is here to stay. Whether hosting a completely virtual event or a hybrid event, live streaming offers a way to engage with a larger audience and provides opportunities for additional revenue. Many musicians, producers, and DJ’s have begun to host live streams in much larger numbers. Twitch saw a 385% year over year growth in their Music & Performing Arts content category. The number of hours watched grew from 3.6M in April 2019 to 17M in April 2020. For the music industry as a whole, that is an indicator that live streaming is in high demand. In addition to performers, music venues have also implemented live streaming. Whether hosting a show with no audience or throwing a hybrid event, live streaming can be a powerful marketing tool and an additional revenue stream for venue owners.
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How Can You Make Money Live Streaming? The common misconception behind live streaming is that people can only make money if they have a long-developed following and a larger audience. However, more people have proven that live streaming has been expanding, estimating to bolster and double in growth to become more than a $70 billion industry by 2021.