The low cost of equipment and relatively simple technology solutions available today allow almost anyone to set up their own mini video broadcast studio. But the missing piece for many video producers has been finding a way to monetize their efforts. Now YouTube has announced a few new features that will not only make live event streaming easier, but potentially more profitable.
The new monetization arrangement is available to members of YouTube's Partner program and allows video producers to profit from their events with a pay-per-view or in-stream advertising option on live events. The features are available to YouTube Live Streaming Partners in the U.S., Japan, France, the U.K., and Canada, and allow the producers to set different prices for specific countries.
An additional feature that will act as a powerful support mechanism for the new monetization feature is the ability to access real-time analytics information on average viewing duration, playbacks, and concurrent viewers of your live streams by location and video format.
Yet another aspect of YouTube's aggressive new approach to live streaming is its decision to bake-in the powerful Wirecast tool into the YouTube production suite, free of charge. Wirecast is a well-known live video production software tool that helps you produce live video events by giving you multiple live camera angle options as well as the ability to add in other visuals and pre-produced sounds and video packages.
The new initiative is part of the site's new rollout of YouTube Live, a live streaming component that looks to compete more directly with the likes of Ustream and Justin.tv. And while Ustream rolled out a similar paid option a several years ago, the site's roughly 60 million monthly viewers pales in comparison to YouTube's estimated 160,000 million monthly viewers.
Despite a number of other popular video sites offering attractive features, and certainly less comment spam and user abuse, YouTube remains the first option for those looking to get their video content seen by as many viewers as possible. Thus the new earning potential for live streams will come as a welcome update for everyone from passionate video blog hobbyists to dedicated video professionals who look to the site as a primary source of income.
YouTube first rolled out a live-streaming service in April 2011. At the time, it said it would gradually roll out the platform to certain YouTube partners with accounts in good standing.
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