YouTube is the second biggest social media platform on the internet right now, just next to Facebook. Currently, there are about 2 billion active users around the world every month, according to statistics. Needless to say, being one of the YouTube stars is almost tantamount to being a Hollywood star.
We all know that with fame comes fortune. So, indeed, even on this free-to-use media platform, anyone can become famous worldwide and earn some money as well.
However, YouTube won’t pay you for simply uploading videos on their platform. You have to have tons of views to prove that you are an up-and-coming video creator before the platform recognizes your potential to make money on YouTube.
It is encouraging though to know that you don’t need a million subscribers to start earning. In fact, you only need 1,000 subscribers. Try inviting all the contacts on your Facebook and then some to accomplish this one. It shouldn’t be that hard just to kick-start your journey.
The next criterion you will need to fulfill is to get your videos 4,000 watch hours or play time in the span of 12 months. There are 2 billion people who can click on your videos; you’ll probably get enough views for this to happen in a year. Once you’ve achieved this, YouTube will notify you are eligible to join the YouTube Partners Program and that your videos are ready to be monetized.
Monetizing your videos means that brands can show their advertisements before, during, or after your videos in exchange for some cash. It will not rake in big bucks immediately, but it’s a start. You’ll have to set up your account to start the income flowing.
Once YouTube has recognized your potential, you’ll need to change your account settings to “Enable Monetization.” After that, you will have to create and link a Google AdSense account and a PayPal account where you’ll receive the revenue from advertisements played on your videos. All these accounts setup is for free, so you don’t have to worry about paying any fees.
You will only have to think about how to earn money on YouTube and what will help you earn. Your potential earnings can be defined by the following factors that brands are on the lookout for:
The main passive YouTube income source is generated from advertisements, crowdfunding, selling merchandise and affiliate links. To get this going, you’ll need to craft a channel that produces streamlined content. Start by uploading videos to your channel.
Make this kind of video if you are camera-shy or not yet ready to commit to a niche.
You can even have someone do all these things for you. It doesn’t cost much to hire freelancers on Fiverr. Outsourcing frees up your time as well to do other income-generating projects.
If you are passionate about something and you want an outlet, you can certainly record your own videos. Some pointers for a successful project:
The number of your subscribers is a sign of your channel’s growth. You should always strive to get new subs to keep progress constant. This will attract more advertisers to your channel.
Advertising is just one avenue of income. There are other ways you can earn through YouTube, but these will only be profitable once you have established yourself on the platform with a huge number of subscribers.
Your audience would love to interact with their favorite star. Having live streams gives them such fulfillment. You also get the chance to receive tips from them during these shows.
When you do live streams, your subscribers can purchase channel memberships that will give them specialized emojis and badges that will make them more visible in chat interactions. They also get exclusive live chats with you for a certain price. So being personable on YouTube really goes a long way.
Raise money for your next project by asking people for funds over the internet. Create a video discussing this project you’re planning. If they’re interested, they may support your venture. There are platforms on which you can do this:
Your fans would love to provide monetary support for their idol so you can keep creating videos for them to watch. You just have to be transparent about what you use the money for. It also helps to provide them with exclusive deals to entice them to donate more. Here are some commonly used services to do this:
Your supporters would love to wear your stuff to show the world how much they love you. Having an online store is the way to provide them with your merchandise. Here are some print-on-demand services that can help you with setting up your store, creating, selling, and shipping your stuff:
Same as when you are putting out merch, you can also provide your fans with your services. Promote this in your videos and don’t forget to include links for them to easily find you on whatever platform you choose. You can offer services on any of these sites:
These include brand endorsements, product reviews, and unboxing/hype videos. Brands are willing to pay YouTubers who have a big following to feature their product. Some pay a fixed price, like $300 per sponsored video. Some pay per view. It’s not the same every time. Pricing varies, but as a general rule, the more subscribers and views you have, the bigger your earnings.
When brands approach you to feature their products or services, they will provide you with affiliate links. Whenever people click on this and avail themselves of their services, you get a commission from the sales. Here are ways to seamlessly incorporate the links in your channel:
These are just some of the more common ways YouTubers earn an income. Since the advent of the internet, everything is possible. You are only limited by your imagination.
Relying solely on ads won’t get you much. You only receive 55% of ad revenue on YouTube. It is up to you if you are already satisfied with this. However, if you want to maximize profits, try to explore the other avenues.
YouTube offers a lot of earning opportunities for everyone. Tapping this great platform is a must if you want to start a business or career online. There are also numerous resources available that can help you on the journey to earning money on YouTube. So, why not start today?