Guess what, you don’t need to have a million subscribers to make money on YouTube. What really influences your earning potential are metrics like content quality, niche, engagement rate, and the revenue streams you choose. Creators are maximising multiple channels to promote their videos and mint money. We’re going to let you in on the most popular breadwinners.
1. YouTube ads monetization
This is one of the most popular ways to earn money on YouTube. Once your channel hits 1000 subscribers and your channel has accumulated over 4,000 valid public watch hours in the last 12 months, you will be eligible to apply for the YouTube Partner program. The YouTube Partner Program lets you enable monetization and select a revenue model for your channel. This means, advertisers can start displaying their ads on your videos. You get paid when a viewer watches an ad in full or when they click on an ad.
2. YouTube Premium
Creators use YouTube Premium as a secondary source to earn, in addition to ad revenue. Viewers can access YouTube Premium by paying a subscription fee. YouTube Premium members get to watch uninterrupted content without ads and also download videos. The YouTube Premium membership fees are distributed to creators based on how many members watch your content.
3. License your videos to the media
If your video is peaking at the brink of virality, give it an extra push to make it truly viral. Consider listing your video to marketplaces like Junkin Media, ViralHog, Storyful, and Video Elephant. These platforms make it easier for the media, TV shows, and other news channels like The New York Times, Wired, TMZ, and the Ellen Degeneres Show and more to pick up your video. Once your video gets picked up, you can license your content in exchange for money so that your content can be repurposed and distributed.
If you’re looking to earn money for investing on your own YouTube channel, consider crowdsourcing. Whether you need money for buying new equipment, working on a new project or contributing towards a cause, you can ask your viewers to fund you. Be as transparent as you can and let viewers know exactly how their money will be spent if they decide to contribute. For example, show them an exciting trailer you’re working on. You can link to crowdfunding sites that are approved by YouTube such as Change.org, angel.me, Crowdfunder, Gofundme, Google One Today, and YouTube’s own Super Chat.
5. Affiliate programs
YouTube affiliate programs allow you to partner with a brand and promote their product or service usually for a discounted price or referral link. When a viewer buys a product using your referral link/discount code, you get to pocket your share of the sale revenue as a commission fee. For example, if you sell a product worth $10 and your revenue model offers you 20% of the sale revenue, then you get to pocket $2. So the more products you sell, the more you earn. Amazon Associates, Ebay Partner Network and ClickBank are popular affiliate programs and are great for creators who do product reviews.
Influencer marketing is a goldmine. Marketers are scouting for creators in a targeted niche to sponsor. Brands are paying creators thousands of dollars to create a single video or post depending on the creator’s audience demographics, geographical location, content engagement rates and other critical data. Influencer marketing websites like Famebit, Grapevine, and social media platforms like Instagram are the perfect places to make your channel visible to potential brands.
YouTubers are creating customised merchandise with their unique slogans, logos, channel name, funny memes, fandom names, and even their own faces. Liza Koshy creates caps, clothing, and a whole bunch of other creative products that showcase her funny personality and main visions her brand stands for. One of her most popular collections is branded “introvert”. Her products are also trending, fashionable, minimalistic, and resonate with her target audience.
One of the most amazing perks of having a YouTube channel is that you can gradually earn a six-figure income and work your way up from there if you learn the tricks of the trade. Just understand what advertisers are looking for, make a kickass pitch, and max out on your opportunities!
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