Africa’s first live-streaming social media site, Vumistream, plans to begin paying content creators who publish their works on the platform using local monetization tools such as mobile money.
Vumistream.com which was launched its services in the continent this month provides tools for content creators to earn from their livestreams through tips, subscriptions, pay-per-view (premium livestreams), live e-commerce, and webinars.
Vumistream Chief Executive Officer Wilfred Kinyanjui says the platform enables content creators across to make money from the digital creations and allow users to follow their favorite creators, engage with their streams, tip them, subscribe to their channels, and buy products promoted during livestreams.
“We provide a platform for people to express themselves, build communities, and earn an income in an enjoyable, engaging way. Our goal is to empower African content creators by providing the means and chances to earn a living from their enthusiasm for making and distributing content online,” said Kinyanjui.
The launch of the platform comes amid growth in African live-stream content which according to Statista is projected to be worth over Ksh 17.4 billion ($124.5 million) by 2023.
“We anticipate seeing novel kinds of content, interactions, and business models arising from Vumistream as we keep developing features that satisfy the requirements of our rapidly expanding community of creators and viewers throughout Africa,” he added.
The platform features a range of content including lifestyle vlogs, comedy skits, music, gaming, news commentary.
Vumistream allows creators to go live using their mobile phones or from a desktop using readily available encorders.
Additionally, the platform offers content creators tools to enhance their streams, including real-time viewer stats, virtual gifts, and video effects.
Viewers will also discover new creators through Vumistream’s recommendations engine and also browsing trending streams.
“Having been one of the beta testers I am super excited at the opportunity to turn my passion for creating videos into a source of income,” says Alex Mwangi, a video gamer from Kenya.
“I can now plan to support myself financially by doing what I love. The Vumistream team has really worked hard to make it easy for me to go live with a simple user interface. I’m really excited about the potential to grow my channel and business on the platform.”
Plans are underway to incorporate features such as live-stream collaborations, exclusive fan clubs, profile verifications, live-stream translations, webinars, and pay per view for premium livestreams.
Vumistream is currently self-funded but actively raising funding to further develop its live streaming and e-commerce technology as well as expand into new markets.
Other features to be included in the future include Vumi TV where users will be able to stream movies and shoes, Vumilisten for music and podcasts and Vuminews for news and entertainment.
Vumistream which has its headquarters in the United Kingdom is currently available in 10 African countries with plans to expand into more countries and continents by 2024.