YouTube is the Second Most Popular Social Media Platform after Facebook. YouTube has 2 billion monthly users worldwide. Every day people watch one billion hours of videos on YouTube and generate billions of views. 500 hours of video are uploaded to YouTube every minute worldwide. That’s 30,000 hours of video uploaded every hour. And 720,000 hours of video uploaded every day to YouTube.
YouTube may have gained a lot of popularity as a platform for personal video viewing, but it has also been a valuable tool for businesses. In recent years, businesses are turning to YouTube to expand their marketing efforts. 62% of businesses use YouTube to promote their brands.
YouTube is no longer for entertainment only. But it is a major revenue source for online business. You can cash in those opportunities. Making money with YouTube takes some time and effort, but those efforts can pay off with good money. There are plenty of ways to earn money from a YouTube channel: here is a look at a few.
1. Join the YouTube Partner Program
A highly-effective way to monetize your YouTube channel is to participate in the YouTube Partner Program. To be reviewed for the YouTube Partner Program, channels need at least 4,000 watch hours in the previous 12 months and 1,000 subscribers. This requirement properly evaluates new channels and protects the creator community from spammers, impersonators, and other bad actors.
YouTube Partners have access to multiple income streams: not just ads, but YouTube Premium subscription fees, and features that tap your fans’ wallets directly like Super Chat, channel memberships, and the merchandise shelf.
Ad revenue is the most obvious way to make money on YouTube. If your channel has been approved to join the YouTube Partner Program, you need to associate an approved AdSense account with your YouTube channel to earn money from your videos and get paid. You can only have one AdSense account under the same payee name per AdSense’s Terms and Conditions. Duplicate AdSense accounts created through YouTube will not be approved and monetization will be disabled for the associated YouTube channel. You can use your existing AdSense account or create a new one if you don’t have one. You can monetize more than one YouTube channel with the same AdSense account.
The number of views you get doesn’t relate to revenue earned. If your video gets thousands of views but no one watches or clicks the ad, you won’t make any money. This is because of YouTube’s criteria for billing advertisers: a viewer must click an ad or watch the ad in full (10, 15, or 30 seconds) for you to get paid. However, with the release of YouTube Premium, you no longer need to rely on advertisers to create engaging or enticing ads to earn revenue.
3. YouTube Premium
YouTube Premium is a paid membership program that allows fans to watch and support their favorite content creators without ads. Creators are paid for YouTube Premium based on how much members watch their content. Consider revenue earned from YouTube Premium as a secondary revenue stream in addition to what you’re already earning through ads. While it’s easy to set up, earning money through advertising as a YouTube Partner is far from the most lucrative revenue stream you can create for yourself.
4. Channel Memberships
With Channel Memberships, viewers pay a monthly recurring fee to get unique badges, new emoji, Members-only posts in the Community tab, and access to unique custom perks offered by creators. This feature is available to channels in certain locations that meet the requirements. You also may have the option of linking to approved crowdfunding sites from your video cards or end screens.
5. Super Chat
Super Chat is a way for fans and creators to interact in live chat. Fans can purchase Super Chats to highlight their messages within chat during a live stream or Premiere. This feature is available to channels in certain locations who meet the requirements. If you’ve enabled Super Chat, you’ll receive this revenue in a similar way to the way that you receive ads revenue with AdSense.
You can make money through your YouTube channel by selling the products. You can link to approved merchandise sites to offer your fans t-shirts, mugs, or other items. Merch needs to comply with YouTube’s Community Guidelines. Also, there’s a new integration with Teespring that enables eligible creators to sell merch from a shelf on their channel.
When handling orders, you can integrate your store with services such as Oberlo or one of the many print-on-demand providers that take care of shipping, fulfillment, and customer support, letting you reap all of the benefits of a dropshipping business that demands less effort on your part.
You can also partner with an existing merchandising network for creators, such as DFTBA (Don’t Forget to Be Awesome). You can even manufacture and sell your unique products and boost your business through your YouTube channel.
7. Work with brands as an influencer
Working with brands as an influencer can be another revenue stream and an opportunity to introduce new products and services to your audience. Brands are often eager to do deals with creators because it allows them to reach the desired audience and expand their market. Brands are investing more in influencer marketing, spending their large advertising budgets on influencers who’ve already won the loyalty of their audiences.
Depending on your leverage—your audience demographics, content quality, and how unique and profitable your niche is—you might be able to negotiate a better deal with brands.
Becoming an influencer on YouTube is reported as the highest-paid platform for brand partnerships. A mid-level influencer charges a brand around $20 per 1,000 subscribers, or $2,000 per $100,000 followers. Transparency is vital for your business, but also your relationship with your audience. You must make sure your audience is aware that you’re advertising to them.
8. Become an affiliate marketer
You can also become an affiliate marketer for brands and make passive income through commissions from every sale you generate through your channel. This works especially well if you review products as part of your YouTube channel. Since there’s no risk involved on the brand’s end, they only pay when they make sales, there’s usually a low bar to getting started.
Popular affiliate programs include Click Bank (1% to 75% commission, depending on what the vendor sets) and Amazon’s Affiliate network (earn up to 10% per sale). You can also reach out to brands in your niche that are running their affiliate programs, which is common in the eCommerce space.
Crowdfunding is the practice of collecting small amounts of capital from a large number of individuals to fund a new business venture typically via the Internet. When money is all that stands between an idea and its execution, crowdfunding is a good way to make it happen.
You can seek support for your channel by setting up a crowdfunding campaign on an approved third party crowdfunding site. Crowdfunding can help drive awareness and support for your channel, fulfill creative potential, and start new projects.
In general, crowdfunding lets people support your channel or a specific initiative with either a monthly payment or a one-time payment. In turn, project backers may receive something in exchange for their payment. For example, you can offer a shout-out in your next video for a small contribution or something more substantial, like branded merch for larger support.
Monthly, recurring crowdfunding can help you raise a little extra to keep doing what you’re already doing and drive awareness to initiatives on your channel. YouTube has an on-platform version called channel memberships. Project-based crowdfunding is typically used to make a specific initiative happen like raise money for charity, experiment with long-form content, and even publish books.
10. License your content to the media
If you happen to create a viral video with mass appeal, you can license your content in exchange for money. When a video goes viral, every news outlet wants to replay it for their audience. Well established media companies are willing to pay huge money for viral content. You’ve got yourself another way to make money on YouTube. As a content creator, licensing your work to the media is very important. You also make sure that it’s easy to find. You can also list your videos in a marketplace, such as Juken Media, where your content will be easier for the right people to find and purchase.