Live social video streaming service Ustream has decided to give its Open Pay-per-view (Open PPV) service an official release today, more than two years after it was rolled out in beta to select users.

The feature allows broadcasters of all sizes to offer tickets for an event that they plan to show online. As with the beta, there are no set up fees associated with setting up the pay-per-view option and broadcasters are free to set their own ticket prices and broadcast schedule.

Payments can also be accepted via PayPal, opening up the service to most major credit cards.

Over the beta period, more than 4,500 events have been shown with a pay-per-view system. Some of the most notable include the Bridge School Benefit Concert, individual rugby games from the Six Nations tournament and the America versus Guatemala qualifier for the World Cup. Ustream has revealed today that the most successful PPV events have generated more than $70,000, with season-long shows creating up to $300,000 during the beta period.

“Since we launched pay-per-view in beta, we’ve also seen an increasing number of small, independent broadcasters who are finding success, proving that viewers are willing to pay for quality, niche content,” Jordan Meyer, Director of Product Marketing at Ustream said.

Ustream is one of the biggest players in the online streaming space, but it isn’t alone in offering a pay-per-view service. Since last April, YouTube Live has also been offering publishers a pay-per-view option when setting up a stream. It’s joined by Vimeo, who introduced a pay-per-view platform last November, as well as Tvoop, which is built specifically for monetizing live and on demand videos.

It’s also worth nothing that Twitch, an online streaming service aimed at video games and e-sports tournaments, also has a growing pay-per-view business for live events.

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