YouTube is a video sharing platform that serves as a fun way to connect with other people and discover things you like. It has valuable tutorials, informational videos, music videos, comedy shows and more.
And while this video channel can be an enjoyable form of entertainment for some, for others it is a great way to make money.
If you post on Youtube often, read on to find out how you can turn your hobby into a money-making empire.
Become a YouTube Partner
A good way to begin making money on YouTube is by joining the YouTube Partner Program. YouTube partners will have access to several income streams including ads, YouTube Premium subscription fees, SuperChat, channel memberships and merchandise shelf.
We’ll explore all these later in the article, but let’s start with the basics.
The first thing you will have to do is start a YouTube channel. This is a pretty easy process with steps that you can walk through when you visit the YouTube web site.
Next you will have to work your channel to the point where you have 1,000 subscribers and 4,000 watch hours in the previous 12 months.
There are plenty of ways to grow your following on YouTube like including tags and keywords and links in your descriptions, posting the entire transcript of your video in the description, networking with other members, creating engaging content and more.
Once you qualify, you can set up an AdSense account. This will allow you to monetize your videos.
Now that you have an AdSense account, you can begin exploring your monetizing options. These include the following:
- Ad Revenue: To earn ad revenue you must be at least 18 years old and have advertiser friendly content. Avoid posting anything too controversial so advertisers will feel comfortable working with your channel.
- YouTube Premium Revenue: If a YouTube Premium member watches your video, you will automatically get a portion of their subscription fee.
- Channel Memberships: If you are 18 years or older and have more than 30,000 subscribers, you can begin selling memberships for your channel.
- Merchandise Shelf: You can sell merchandise on your channel if you are at least 18 years old and have 10,000 subscribers or more.
- Super Chat Payments: With this service, fans can pay to have their messages highlighted in your live chats. To qualify for Super Chat payments, you must be at least 18 and live in a country where the service is available.
Once you are a YouTube partner, you will have to adhere their program policies, community guidelines and copyright laws to maintain your standing.
More Ways to Make Money Off Your Channel
While YouTube offers great ways to make money off your channel, there are other strategies you can use to increase your income by posting on the channel. These include the following:
Crowdfunding: If you are looking for funding for your next creative project, you can shoot a video explaining what your project is about and the reason you need funding. Post the video on YouTube and work with sites like Kickstarter or Indiegogo to collect and access those donations.
Fan Funding: Once you have a following, you can get fans to pay to view your content. While YouTube offers many of these services directly (i.e. Super Chat and channel memberships) there are other sites that you can use in conjunction with YouTube to increase income.
Patreon, for example, allows fans to subscribe to their favorite creators and receive exclusive rewards. Tippee works in a similar way but fans have the option of making either one off or recurring donations.
License Content to the Media: If you create a video that is popular enough, media channels might begin reaching out to you for the rights to use these videos. You can charge them for these rights to make extra income.
You can also list your video on JunkinMedia, a site that makes it easy for you to connect with people that might be interested in buying the rights to your videos.
Partner with Brands to Become and Influencer or Affiliate: Once you begin building a reputation as a popular YouTuber, brands may want to work with you to begin plugging their products and services on your channel.
Unlike a typical commercial, when working as an influencer, you must show a certain amount of authenticity in reference to why you back the product. Influencers can charge advertising rates similar to advertising fees.
You can also become an affiliate marketer for brands. An affiliate will review or mention products in their video and receive a commission for every sale that is made as a result of the plug.
YouTube is a great creative outlet and a good way to connect with other people, but it can also be a money-making machine if you use it correctly. Hopefully this article has given you some valuable information on how you can move forward with making money while coming up with fun and useful videos that public will enjoy.
Here’s wishing you a fun and lucrative YouTube adventure!