Three times a week I stream on YouTube listening to/critiquing artist’s music. (2 hours on Tuesdays, 2 hours on Thursdays, and 6 hours on Saturdays)Tuesdays and Thursdays I get through roughly 22 songsSaturdays it’s around 70 songsI’ve been doing free submissions or people can pay $10 to skip the queue of free submissions. I have a “first come first serve” system for free submissions plus a roll call so the artist has to actually be on stream to have their song played, and they have a limit of 1 free song per stream they can submit. Recently, all the songs that get played for free Tuesday and Thursday are submitted within the first 60 seconds of submissions opening for those streams. Meaning, if someone takes more than a minute to submit on Tuesdays or Thursdays, their free submission song won’t get played. On Saturdays it’s not uncommon for some people to wait 4+ hours to get played if they submit right after the first bulk of people. Overall, I know there is a demand.The past few months I’ve made around $800 each month. After paypal fees that’s roughly 90 skips per month. Which comes out to (roughly) ⅕ or 20% of songs being pay to skip, so I know that people are willing to pay - with that said, there are a lot of people who pay repeatedly.Tuesdays and Thursdays I’ve been getting roughly 300 people on stream collectively over the course of 2 hours and around 20-30 at any given time. Saturdays it’s around 600-700 people collectively over 6 hours also with 20-30 at any given time. (A lot of people pop in, maybe finding me for the first time, then head out)I’m considering testing a $3 to submit stream on one of my future weekday streams, set a limit to 20 submissions, and any time after that left on stream will be free submissions picked at random. For the test stream I wouldn’t do $10 skips, because I’m not sure how many submissions for $3 I’d actually end up getting and for simplicity of testing it.Here are the benefits of charging for each submission:People who come in late or are new to the stream don’t have to wait until a future stream and don’t have to time their submission perfectly to get played.They don’t have to pay the usual $10 to guarantee a play.Here are my fears of charging for each submission:Significantly less people show up to the stream and it negatively impacting my YouTube Channel’s future growth.I don’t get a full 20 people who will pay the $3 and just end up looking like it failed.I’m afraid that it’s too soon to make the jump to charge just to submit.Should I just wait until skips become overwhelming? (showing an even bigger demand, such as 50% or 70% of submission being skips)Ultimately, I will get to a point where I will charge for every submission, I’m just afraid that it’s too soon.What some others are charging:Earlier this year one guy (who at the time had around 400k subs) was charging $40 to submit, and $70 for skips. He was doing it twice a week for 6 hours each time. At $40 per submission and 70 songs per 6 hours (not sure what he got, but that’s around what I get through in 6 hours) he was making at minimum $5,600 per week. So, my streams definitely have 6-figure potential, I just have to grow a lot more to get there. However, he stopped doing it due to other bigger projects he has going on.Another channel with around 120k subs is currently charging $20 per submission, but streams way less frequently.And another channel with 4 mil subs who charges $100 per song and $200 for a repost, but also isn’t doing it frequently. (this channel also doesn’t really critique, they just play the music and talk over it.I’m not sure how many people they get on their streams total, so sub count is really the only number I have to go by. There are also a handful of other channels I've seen pop up that charge for submissions but these are the 3 I know of the top of my head.Currently I’m about to hit 7k subs.TLDR: I critique music on Live Streams. Do I test charging for every submissions or is it too soon?Note: if someone has a better TLDR let me know and I'll update it. see hubwealthy.com/wealthy
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