On average, Twitch TV had 1.44 million concurrent viewers in 2020. That is a significant growth from 2018 when the number was just above one million.
The platform continues to attract more viewers and content creators. For some, Twitch TV is a source of income; for others, it is a place to relax and find entertainment.
If you feel like you could become a successful streamer or simply wish to give it a try and see where it gets you, then why not?
The Monetization Strategy
You could treat streaming as a hobby, but most people go into it with the intent to make money. While it may take a while before you get a decent amount of viewers to monetize the channel, it is still something to consider early.
Most streamers rely on donations and subscriptions for their income. However, there are other ways to make money on Twitch TV. For example, once your channel can be considered a brand, you could sell custom merchandise. Custom mugs, hoodies, all over print t-shirts with Printify, and even face masks are popular.
It is no secret that most Twitch TV viewers are quite young. It is the appeal of the platform and content creators that attract this demographic.
About 60% of millennials in 2019 preferred to shop online. The percentage has grown since many brick-and-mortar stores had to close down because of the pandemic. Leveraging these numbers and opening your own custom merchandise store could provide a valuable decision.
Then you have sponsorship deals. If you look at the current state of Twitch TV, many streamers are promoting VPN and other similar services. Getting such sponsorship is a good way to increase your revenue stream further.
A YouTube channel for stream highlights is another option to consider, but you should not expect to make a lot from that if the view numbers are mediocre. YouTube has changed their algorithm recently, and it has become harder to monetize content on the platform.
Of course, you will still likely depend on subscribers and donations. The former in particular, because people can subscribe using their Twitch Prime for various perks. Besides, subscribers have access to channel-related emotes as well as Discord communities that some streamers have.
When you start making money on Twitch TV, do not limit yourself to just one method. If anything, you should be looking for new ways to increase the income, especially if you have an audience that you can monetize.
Importance of Consistency
The approach of treating your Twitch TV stream as a job could be one of the best decisions you can make. At the end of the day, the top streamers have made it this far because they were consistent in their schedule and content quality.
Imagine starting your stream regularly at 1 PM and sticking to that schedule for a couple of months. And then, all of a sudden, you decide to change that without informing the viewers. For someone who has built expectations over time, it can be a blow, and they might lose interest in watching you. Each viewer that you lose is a step backward.
If you want to work as a stream and depend on this job to make money, you have to stick to a schedule. Yes, there will be times when you cannot make it, but missing or delaying the stream for a day or two should not be that much of an issue. What matters is consistency.
Speaking of consistency, try avoiding content quality dips. Otherwise, viewers may not find you entertaining and look elsewhere. If you feel like you are not performing up to your standards, try switching to other games or other types of content, like real-life streams.
Collaboration and Marketing Opportunities
At the end of the day, the success of your Twitch channel is measured by how many viewers you get. The problem is that even if you have an entertaining personality or great content, it may not be enough to attract enough viewers.
If so, you will need to look for opportunities to promote your channel. Collaborating with other streamers is a solid choice. The top streamers will likely ignore you, but you can join hands together with someone who has a similar number of viewers. For instance, you could play co-op video games together.
Social media is a place to plug your stream. And not just the biggest platforms like Facebook. You can use websites like Reddit, where you post some clips from your stream that highlight what the channel is about.
Investing in quality visuals and other elements like sub emotes is also a good way to stand out from other streamers.
Finally, you can involve the viewers more. If someone has a fun time talking with you or playing video games together, they are likely to share that experience with others. A chain reaction like that could also lead to more people checking your stream.