Alright. So people were curious about Twitch streaming, and I got summoned by the abyss from Chysamere. So I'll do a quick write up on Twitch streaming from my experience.
IMO - Being a successful Twitch streamer is both easier and harder than people realize. There's a few things you need to do and a few things you need to know before starting -
1.) You must have a unique hook to draw people to watching you. For most success stories, this is excelling in a popular game for your first game. You don't need to be the best player in the game, but you need to be in the top 0.1% of players for your first game. There are exceptions to this (ie: Popular YouTuber, Caster, etc), but in general this is the foot in the door part and basic requirement for starting a stream.
2.) You must dedicate 8 hours a day minimum, with 12 hours a day preferred. Consistency is the key to a good Twitch stream. I would say if you're not averaging 10 hours a day, 6 days a week, you're going to find it difficult to really start building a viewer base and getting traction. Throw away any dreams you have of only streaming 3 hours a day 5 days a week and getting a following, because that shit is simply not happening.
3.) Investing in a good setup matters - Get a good two stream PC setup that can do 1080p / 60 with medium encoding at 6k bitrate. Get a microphone that doesn't sound like shit. Webcams are surprisingly optional if you offer a good personality, but audio and video quality are not. Streaming requires spending hundreds of hours with little financial gain at all in the beginning - don't fuck yourself over by being a cheap ass and devaluing your time because you didn't make your stream look good.
4.) Be prepared to live off of either money that you've saved or the assistance of family for your first 8 to 12 months. Even working hard every day, it's going to take awhile to build a stream that can financially support you.
5.) Don't be a salty piece of shit TOWARDS OTHER PEOPLE. Getting salty at hearthstone for RNG fucking you? That's fine. Being in a team game and calling your teammate a shitter? That's bad. While some streamers get away with this, you are going to inherently reduce your appeal and thus final amount of money you can bring in if you don't treat other players with respect. Streamers like LIRIK and Seagull should be your model here. Admittedly, once you get to the 20k+ level, you can mix in more salt than expected (ie: Summit) because you're somewhat invincible at that point. However if you try it while climbing you'll likely fall to your death.
6.) Expect to be lonely - This might seem bizarre and counter factual, but I'll tell you from experience that it's true. You are putting on a presentation when you stream - you're not just hanging out with buddies. Which means you're in show mode for 9 to 10 hours every day. This leaves you with far less time to socialize and bullshit than almost any other job imaginable. There is no downtime, and if you take a long break midstream you might as well end the stream. This effect can take it's toll over 2 years.
There's probably other important stuff here that I could bring up, but I'd say what I've written is a decent primer. Even though it carries different stresses in terms of politics, I've been happy with my choice to focus on broadcasting over streaming. I try not to think about things like how much money MoonMoon makes a month (hint: 50k+ or more) which is certainly more than what I'd make even with the largest broadcasting gigs. However, I've had social opportunities and free time that I never would have had if I stuck with the streaming formula that gave me a successful stream. The best advice I can give anyone going into it though is, don't think that you're just playing video games for money - it's a job, and it comes with it's ups and downs just like any other.