Instagram reveal they have plans to monetise live streams

Instagram are looking at how they can “support creators and artists” who are using their ‘Live’ streaming feature.

Last week the co-founder of mobile game HaikuJAM, Neer Sharma, shared an interesting thread on Twitter. He describes in detail how artists are taking to live streams with gigs and festivals cancelled for the foreseeable future. But in particular he describes how these streams could, and perhaps should, be monetised so that artists could earn when they’ve lost their business and are still entertaining fans.

Sharma gave some food for thought as to how Instagram could monetise the streams of artists like Tory Lanez who had 200,000 viewers on his stream and James Blake whose live performance had 30,000. He even whipped up some neat little images showing how features like sending virtual gifts, adding a merch shop, and more could work.

The recommendations were so good that Instagram came on to comment on them. Their vice president of product, Vishal Shah said: “I appreciate the level of thought put into this thread. We are investing a lot into Instagram Live and have been thinking about many of the areas you’ve highlighted.”

Instagram’s head then piped up to add: “We have some plans in the works to support creators and artists using Live. Stay tuned.” Instagram will want to get to launching these features soon to best help artists while the situation surrounding COVID-19 continues.

We look forward to seeing what they have planned and will be sure to report on it when we hear about them.

Head of Social Media and Marketing, RouteNote

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