Are you thinking about how to make money on YouTube? You are not the only one thinking in that direction. We all are looking for a little extra something apart from our paycheck at the end of every month. YouTube, being the video hub of the globe, offers that opportunity of making a few bucks, to add to what it is you take back home from your work at the end of every month.
YouTube has offered millions of people across the globe, the opportunity of monetizing just about any skill, talent, or opportunity. With 1.9 billion users logging in every month and 500 hours of video uploaded to the site every minute, you can be sure that YouTube is here to stay.
Now contrary to the opinion of many, content creators, are not paid by YouTube for uploading videos. Neither are the videos monetized by default, rather, for you to start making money on YouTube, you have to enable monetization in your YouTube account settings. From there, you then have options to join the YouTube Partners Program or have your videos listed on YouTube Premium.
So how can you actually make money from YouTube?
How To Make Money on YouTube
Join the YouTube Partner Program
After you have conceived the idea of making money on YouTube, the first step you should take, it to join the YouTube Partner Program. The partnership is designed, such that, it gives content creators access to special tools, like the ability to monetize their videos through Google Adsense. In order to qualify, content creators, are to have at least 1,000 subscribers and 4,000 hours of accumulated watch time over the prior 12-month period.
Videos are monetized on YouTube via pre-roll, display, and other advertising formats. Advertisers are charged, based on clicks and impressions. YouTube pays the content creators 55% of this revenue and takes 45% for itself. Content creators, are to adhere to the advertising guidelines set out by YouTube. If your content, contains foul language, adult content, violence, and other subjects it will not have ads placed against them.
As a YouTube partner, you also have the ability of selling up to 12 items of merchandise to your audience by enabling this feature in your account.
Yet another lucrative form of advertising is brand sponsorship, which also goes by the name “influencer marketing”. Here, a company pays a content creator, to promote a brand or product within a video. 2019, saw over 700 agencies helping match brands with social media influencers on platforms like YouTube, Facebook, Instagram, Snapchat, and Twitter.
Sell Products or Services to Viewers
If you have merchandise, or you are offering a service that’s important to your audience, you should let them know about it and provide links in your videos. You can sell physical products as well as downloadables, like e-books or art prints. However, you have to ensure that you have a secure payment system in place before you advertise your goods.
You can also monetize your channel, through channel memberships. Here, fans and followers, make recurring monthly payments in exchange for bonus content like badges, emojis, special videos, live chats as well as other content. YouTube partners, who have hit the 30,000 subscribers mark, can enable this monetization feature on their account. There are top video creators, who earn as much as $40,000 per month from fan support.
Consider YouTube Premium
As a partner, you can also make videos available on YouTube Premium. This is the site’s ad-free subscription service. With this, you’ll earn a portion of the revenue from membership fees, depending on how many members view your videos.
Now, there are two primary, types of crowdfunding. There are, recurring and project-based. Recurring crowdfunding allows contributors, pay an amount they specify on a regular schedule. You should maximize this type of funding, in order to turn a channel into a substantial income stream. Incentives like one-on-one video chats, private classes, or merchandise can lure viewers into signing up.
A project-based crowdfunding campaign, on the other hand, is best if you have an idea for a project that needs financial support. You can start with sites like Indiegogo, Kickstarter, GoFundMe, or Patreon.
Making money on YouTube may not be a piece of cake, but the same goes for every other money-making venture. Thus you have been patient when you are just starting out, and little by little, you’ll be able to make a substantial income on YouTube. Once you know what you are doing, and you keep at it, you’ll gradually be able to attract a following, and before you know it, you’ll also be testifying like others who have benefited from this huge money resource channel. You’ll just have to take it, one step at a time.
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