I don’t read a book every day I’m not selling a money-making course at the end of this video I am not a financial adviser definitely not a CPA I am a twitch streamer and a tech YouTuber not even like one of the really popular ones I just made some responsible moves took some calculated medium size risks and that’s it.
Yes, so this is always a fun topic just because I’m not money you to where I’m at tech YouTuber but I made this video about 9 months ago talking about twitch streamers and breaking down the revenue sources more specifically my own revenue. Also, check twitch error 2000 if you are a streamer.
Which at the time added up to about $60000 in revenue very little of it actually being passive and I made that video because I’ve been in a situation before where I had a single source of income and I watched that source disappear this time around on this article.
It made a very specific point to diversify my revenue sources as many different places I can and I’d like you to see exactly how that’s done so you can go out and you can do that yourself and I got a very positive response on that article.
I’m super grateful for sharing your income on the internet especially when it is above average like that is a very vulnerable thing to do so thank you this specific source of passive income I’m talking about in this video is a copyright-free music playlist I created called stream meets and this accounts for that entire or 50 K.
That I mentioned in the title that’s not all the revenue that just streams so let me briefly explain to you guys how I built stream beats why it makes so much money what I do with that massive amount of revenue and then I’d like to share with you the 4 fundamental principles of business that I used to create something like this. Also, check- twitch AdBlock
Cool all right beginning of streets about a year ago 1/20/20 my entire revenue including twitch YouTube sponsorships at Cetera added up to probably about $20000 a month so after living expenses investing in equipment in my business paying for an editor.
Read Also: passive income Canada
I think I was probably left with anywhere from 5 to $8000 a month of profit and streets is 1 of those ideas that just I couldn’t get out of my head I knew that millions of streamers needed it and the only other options available were either super-inconvenient or they were expensive.
So I knew if I could build it and I could make the music good I could have thousands of streamers playing my music for hours on repeat behind the live stream.
So I went to fiber which is a freelance website that I’ve previously used for things like logos vector logo of this channel was commissioned on fiber and I hired music producers to make a couple 0 tracks for me definitely the most and even had the commission to do I was a weird conversation and a couple of months later I released the first set of streets tracks about 80 tracks on Spotify apple music.
All these different streaming platforms and just to give you an idea of what the initial investment in this looked like Spotify in these other music platforms takes about 3 months to pay out.
so from the time I commissioned the musicians to the time they released and finish the songs and I posted them all the way to the time I got paid was actually about 5 months from the moment.
I made my first initial investment all the way until I made my very first dollar and within that 5 months, I’d say probably invested 30 to $40000 and that first K. out.
The final payoff
The final payoff was there was about $5000 in fact I think it probably took another 4 months to finally break even on that project and I think at that point I’d spend about 52 Hey at this point I believe I’ve spent a little over $100000 on streets that even the stream it started off pretty small with one to 2000 users a day it grew pretty quickly too.
Now it’s getting about 30000 users a day on Spotify alone a couple of massive spikes happen during the huge DMCA waves on twitch when those record labels came out started striking everybody doesn’t think the record labels meant to help me as much as they actually did so.
Did you guys end up making this video there are currently over 600 tracks I wanna see 67 genres this year releasing 2 new releases every single month?
So if you like to use streets in any of your content, by the way, I leave links in the description below or you can join the streets discord where all the links are at least they’re there to be finishing beats.com, and if you’re wondering upstream.
Spotify or Apple Music streaming services
It’s actually making money most streets users are listening on Spotify or Apple Music streaming services they already paid for in the streaming service Hey the artists per play on average I get paid about point 37 of a penny per play so we listen to 3 songs I make 1 sense that doesn’t sound like a very great deal and for most musicians, it’s not for your average musician every daily listener will listen to about 1 to 2 songs a day.
So if you’re a musician with about 1000 daily listeners you’ll probably get about 1500 streams that compare that to stream beats which get about 40 streets for listeners because typically streamers are playing this in the background behind their live streams for hours on end.
So stream meets gets about 1.2000000 streams per day to multiply that by point 0037 makes 4000 $440 add an extra 10 percent for publishing royalties that makes 4000 800 $84 almost $5000 which means every month it makes about 140 $6000 ends.
Now you know the thing is that while there’s an element of luck to this there always is every success as an element of luck to it I believe that this kind of success is reproducible in any industry there were 4 things specifically that I did that I believe were massive contributing factors to this so let’s go over those 4 things and why I believe those things helped me make $150000 a month.
Very first thing if you ever read any business but you’ve probably heard the phrase never spend your first this means that you take the money that you made from actively working like at your job that money is considered your first dollar instead of spending it on something you won’t like most people do.
More money than the money you made
You go and you invested into something else that makes you more money than the money you made from that investment is called you’re second offer me what I considered my first dollars the money I made from YouTube and twitch.
Because this is what I was actively spending my time doing most people after paying their bills in their living expenses what they have leftover they spend on the phone upgrades are fun things in nice dinners whatever I put 100 percent of what was leftover in the streets for months.
Nowadays the successes have been so great that I’m fortunate enough that I don’t actually spend my second dollar either my aim money pipeline looks like twitch YouTube sponsorships those are my first dollar.
So that money first goes back into itself running the business thanks Sam buying equipment et cetera what’s left over goes into stream beats and that’s money right there is our monthly budget for buying new music an increase in the library none of this first dollar goes in my pocket.
So when you subscribe to me on twitch 100 percent of what you’re spending is going into helping me build street beats is the second dollar and a good chunk of that similar to the first dollar goes right back into itself.
So this money goes towards more innovative and risky things like string beets originals that were working on in the house right now things like the recording studio that we hired an award-winning studio designer to build.
For us so that we can create more music in the house all the things I talked about in the semi H. Q. announcement video a couple of weeks ago and what’s left over here goes towards more long term investments things like real estate investing things like record labels empire records that I’m trying to build the revenue from real estate is what I consider my third dollars and that goes towards paying off my rent my car payment.
Real estate investments
All the things that I need to live and then whatever’s leftover from that goes right back into more real estate investments not spending your first dollar sounds simple in principle but it’s definitely 1 of the most difficult and requires a lot of self-control, especially near the beginning.
When you don’t have a lot of extra spending money and you’re working really hard and you need to treat yourself to actually enjoy your day-to-day life I totally get it.
So let’s move on to number 2 I recommend you take increasing risks as your flexibility for risk gross investing that original $50000 like I did at the beginning of string meets is probably not something a lot of guys are capable of doing.
If you are is probably draining your entire life savings would not be considered a responsible move this YouTube channel had its original take off in December of 2018 little over a year before I started investing in stream meets before the channel took office for making money for my wife.
I was living on about $50000 a year plus we had a lot of debts left over from when we lived in LA which is stupidly expensive I didn’t have any money to risk at the time but I did have time for like 3 years before the shuttle took off I would work all day.
then at night, I would write and film videos, and then I would get into bed and edit those videos and thumbnails until like 4:00 AM with the brightness turned all the way down low so can you could fall asleep on me while I was editing I rarely watch TV.
Risk and sacrifice
I sacrifice a lot of sleep and I don’t think this channel made like a single dollar for 3 years time was the only thing I had to risk and sacrifice at the moment every person has a different level of income but every single person has.
It’s the exact same 2004 hours in the day as you start to find success and things start to grow you’ll also find that your wiggle room for larger risk also grows just take the risks that you can afford to you don’t have to take those massive risks that will leave you homeless.
If you fail you just take risks you can the third thing I did learn as much about an industry as possible to help you find opportunities I had a very unique set of skills to create a business like this not only did I have.
A very extensive understanding of the streaming business but I also had a pretty rich history in the music industry especially on you too bye had a very successful music channel with my wife and we had a very large history of understanding.
How copyright claims and copyright strikes work on you to starting a business like this is about one recognizing a hole in the industry an understanding if you’re capable of filling it into recognizing the trends and being able to see where the industry is going to go before anyone else talks the better you understand an industry.
The easier it is to see the pattern and number 4 I recommend you surround yourself with very smart and inspiring people and not just people in the same industry people with very different skill sets than you do.
For example one of my favorite people to talk to is Devon Nash who even though we’re in the same industry I’ve worked very much on the content creator the front and side while he has worked very much on the back end with the numbers and the agencies.
So it’s really cool to have conversations from these 2 different directions and can understand where we meet the middle I’ve also got a good friend who’s super experienced in real estate investing so that third dollar column I mentioned is something that he helps me with and were able to invest together.
I learned a ton about business strategies investing from that friend even though he’s in a completely different industry and if you can’t find people physically to hang out with that’s fine read some books listen to some podcasts.
I take notes from other successful people in your field or in different fields I highly recommend how I built this podcast on Spotify very good this video is about passive income which is supposed to be something that makes you money that you don’t have to invest time in that one can sometimes get a little blurry technically.
I spend time and I work on stream beats vector there today I was writing some new guitar solos for the upcoming string beets originals album that’s dropping next month but I’m doing that not because I have to I’m doing that.
Because I’m passionate about and I’m excited about what this business is doing I want to see how far I could take it if I wanted to back off completely just let it run passively it would probably.
Makes a similar amount of revenue for the next 5 to 10 years until someone inevitably made a product that was better in and booted me out but at that point, I would have taken as much of that income as possible and invested in things like real estate stuff that’s truly passive income and would just let me live comfortably.
Read more here.