Do you know of any social media network where members have the opportunity to earn big money? Well, the over 60 million monthly active users and 310 million registered users of YY, China’s social networking site with a $5 .1 billion current market worth , enjoy such a benefit . YY supports large video and voice sessions for a diverse application such as personal finances , sports , fashion , education , concerts and more . It has 11 million channels and each channel can support over 100,000 users at any given time.

Who makes money from YY?

• Singers/Performers

One of the most popular YY platforms is the karaoke. Singers do not even need to produce a music video. They can sing live on a YY channel and earn big cash depending on their overall performance . Audiences who like the performance of a singer purchase virtual roses and offer them to the performer , who in turn redeems them into actual cash . Some singers earn a pittance , but a great performance can earn the singer up to $20 ,000 per month .

All a singer needs is to be a member of YY, an Internet connection and a webcam. They can perform in the comfort of their bedroom or living room and their audience, which can be a few handful viewers to thousands or hundreds of thousands, can interact with them by voice over or post reviews in real time. These amateur singers can rise above their amateur status to become stars in their own right.

• Teachers & Learning Institutions

Singers or performers are not the only ones that can earn a quid from YY. Teachers too can earn a living. In 2011, the YY Education was launched as a teaching platform for teachers and other educational institutions where teachers give live online lectures to a group of students. According to YY, the platform allows teachers to earn from 30% to 35% more. There are over 20,000 teachers and 800 learning institutions providing more than 100,000 lectures on this platform.

As of December 2013 the number of paying users increased by 340% compared to 2012. Also, in 2012, Xswlpx.com, an online education provider of computer skills training services powered by YY earned almost $10 million (RMB60 million). It has also secured funding of around $2.4 million (RMB15 million) from some unnamed investor last year.

Who or what is YY?

YY.com is an entertainment and communications network where users can start their own video or audio “channels” for a wide range of activities like singing karaoke style, delivering lectures, conducting seminars, discussing gardening or pig raising with other enthusiasts. YY started as a gaming site before it beefed up its video and audio streaming technology to allow different large groups of users to interact with each other in real time. In contrast with other social networking sites which simply connect users,

YY has the advantage of engaging them. YY is being envisioned by its CEO David Li as a “collective action platform” that gathers a considerable target audience for the purpose of solving problems.

YY.com staff, including CEO David Li, second from the left. (Image Credit: forbes.com & zhiyoujie.com)

Author Bio

This guest post has been written by Sharon Freeman. She is a professional freelancer who writes about the latest trends in entertainment & music videos in the world.

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