Streamlabs is launching a new subscription alternative and won't take a cut.
Streaming content is continuing to grow in terms of viewership, hours watched, and the number of people actively broadcasting to their own audiences. And with that growth comes increased opportunities for streaming platforms and creators to monetize their content.
Typically, that monetization comes directly through the content creation platforms such as Twitch, YouTube, or Facebook Gaming. But streaming software provider Streamlabs is introducing a new way for creators to potentially earn a consistent, monthly income.
Streamlabs Monthly Tipping is a new way in which viewers can support their favorite streamers using a recurring, monthly payment option. It functions directly through Streamlabs and is available for anyone with a Streamlabs tip page, working outside of individual streaming platforms.
Unlike Twitch and YouTube, which take a sizable cut out of monthly channel subscriptions, Streamlabs wont take any percentage of monthly tips to creators. The only deduction will occur during processing while the money transfers from the viewer to the creator’s PayPal account.
“Creators are increasingly able to monetize their work, senior product manager at Streamlabs Tiana Sinclair said. All live streaming platforms now accept their own virtual currencies and subscriptions. However, as creators have more monetization tools at their disposal, we’ve seen a growing trend among them to reduce the revenue share that platforms take. Facebook has taken a step in the right direction by waiving all revenue sharing from subscriptions until 2023. I believe this trend will continue, and we may see other platforms lower their revenue share models in the coming months.”
For viewers, all they need to do is go to a creators Streamlabs tip page and select the Monthly Tip option. From there, they can select an amount to donate, send it through, and receive a notice that confirms their new subscription. Streamlabs will also notify users monthly to remind them that they have a redeemable alert to use for a channel if they continue their subscription through to the next month.
You can cancel your monthly tips at any time by visiting the same page and selecting the Manage option.
Creators can easily set up or toggle monthly tips via their Streamlabs dashboard, which will also show detailed breakdowns for how long certain users have supported them and how long their tips have been active. There are options for creating custom alerts for this new subscription model too, which will help differentiate it from Twitch subs, YouTube members, or other notifications that might already pop up on a stream.