5 Quirky Live Streaming Business Ideas
With the internet unfolding new opportunities in almost every sector, it seems like everybody’s out to be an entrepreneur. And with good reason. In 2017, video traffic is expected to reach 74% of total internet use. The opportunities to cash in on the boom are massive, and if you’re itching to quit the humdrum of your 9 to 5 job and unleash the entrepreneur in you, look no further. We give you 5 quirky live video streaming business ideas that could change 2017, and your life.
If you’re thinking that live sports streaming has been done to death, you’re right. There are enough players in the market, and the niche is a complex web of licensing agreements. But there are other aspects of sports that you could cover through live webcasts. After all, in a survey conducted by KPMG, it was found that 45% of sports fans prefer watching content online.
Sports websites have witnessed an electric growth in the past decade, powered by cyber sports fans and social media. And yet, very few netizens have taken inspiration to start a sports coaching website. CoachTube, founded in Austin, Texas, seized the opportunity in 2015. The company designed a platform, rooted in the JVM technology stack, to bring reputable sports coaches and students together. It didn’t matter where the coach or the student lived. The courses on CoachTube are pre-recorded and uploaded so that an athlete from anywhere can buy and consume it. CoachTube provides courses by renowned instructors that would otherwise cost thousands of dollars to athletes, and promotes each course through social, search and audience partnerships. Plus, it features American greats like Urban Meyer and Tom Izzo, who charge a premium for their courses.
CoachTube shares revenues with coaches in a 20/80 ratio, with coaches taking the lion’s share of the sale. But it also has a referral model. If a coach induces a sale through a coupon code, CoachTube promises 97% of the sale value. With over 800 courses across 35 sports, the revenue model is propelled by volumes.
CoachTube’s strategy can be tailored for regional audiences. In India, for instance, a similar business with Indian coaches would likely work. In England, celebrity football coaches could lure British audiences. Add to that a live video streaming feature, for one-on-one coaching sessions, and you’ve got yourself a full suite of sports coaching techniques. Explore CoachTube’s offerings here: https://coachtube.com/
Last March, Steve Chen, one of the founders of YouTube, started a new venture named Nom. A creative community of foodies, the platform invites chefs, grill-masters, baristas, brew-masters and bartenders to stream live, to showcase exotic recipes and gourmet preparations. In addition, the site is also open to amateur food enthusiasts who can host their own food show. Nom’s primary differentiator is the way it intends to project food, something that has become the internet’s favourite muse. Nom will use a combination of camera angles to capture culinary processes and provide a rich, interactive experience by offering a 2-way chat window between broadcaster and viewer.
In a penetration strategy like YouTube’s, Nom doesn’t plan on raking in revenues just yet. Once it has a sizeable user base, it will adopt an advertising strategy like YouTube’s, with ads playing before and between live streams. If you harbour a passion for food, consider starting a site for your region, where you could feature locally recognised chefs dishing out contemporary recipes. Food is a mainstay on the internet, and if your advertising revenue model is strong, you’re likely to succeed. Discover more about Nom, here: https://nom.com/.
If food isn’t your thing, there are countless other avenues you could explore. Yoga, dance, Zumba, makeup, fashion. The list is infinite. Yogavibes, for instance, curates a suite of yoga courses on its website, each one created by a professional instructor.
The site has more than 5,000 courses, with a revenue sharing agreement with instructors that is apportioned per video sold. Visit Yogavibes at https://www.yogavibes.com/ for ideas.
Look at the ISKCON Live app the next time you have a chance. The platform streams live worship from seven temples in India daily, connecting devotees from across the world. Websites for worship are worthwhile opportunities to pursue, because they will always have a captive audience. Often, devotees aren’t able to travel to places of worship because of distance, age, or other factors. Monetisation for religious streaming could follow a similar approach as sports and how-to tutorials; advertisements are universal across all formats of streaming. You can view the ISKCON Live app here: https://play.google.com/store/apps/details?id=com.live.iskconlivetv&hl=en.
Trade shows and business conferences are lucrative sources of income for streaming. Journalists and industry bigwigs are invited to these conclaves, but are often unable to make it. Sometimes, conferences overlap, pressing invitees to choose one over the other. Live video streaming could bridge this gap. The TNW conference is a wonderful example. An annual business conference that invites 10,000 business leaders, the event is one of the biggest confluences of the year. There are a multitude of events that do not receive live coverage, and collecting live streams on a single platform could be the ideal solution. For ideas, check out the TNW page: https://thenextweb.com/conference/#.tnw_hog6o8Ab.
There are few exclusive celebrity-centric apps in the market. Barring those released by celebrities themselves, like the one by Kim Kardashian, there aren’t any that focus on premium events like weddings, celebrations, engagements and birthdays. Traditionally, magazines have ridden on this trend. For example, Jessica Alba sold her baby’s photos to OK! magazine for $1.5 million in July 2008. A live stream could have captured her baby’s first day at home. Of course, a celebrity stream could prove to be expensive, but in the long run, it could be monetised easily through advertisements and differential viewership plans. Hang With, a celebrity-driven streaming site observed that their site drew 5 to 250 times more traffic than social media sites.
Regardless of whether you’re looking to start a niche video-sharing site, or create your own exclusive streaming website, Streamhash is the ideal solution for you. With a turnkey framework that allows you to set up shop within 2 days, you don’t need to hire a tech team. You don’t even need to venture into coding, development or design. But most of all, Streamhash is light on your pocket, and you’ll spend 100 times less on your launch than you would if you start ground up.
Streamhash a business for yourself today. There’s nothing more fulfilling than seeing your business succeed.