First launched in 2005 as a place where independent users could upload and share the videos they created, YouTube has exploded into one of the most popular and used websites in the world.
YouTube is one of the fastest growing platforms in the world. With this growth came a unique opportunity for users: to make money from the videos they produce and upload. YouTube stars like Pewdiepie make millions of dollars a year on the platform, but there are still plenty of opportunities for newcomers to break into the space and make a living with videos. Here is how to make money on YouTube and start making money from this profitable platform.
How to make money on YouTube
There are many ways to make money on YouTube. Some of them require you to be part of the YouTube Partner Program, require 1,000 subscribers and more than 4,000 watch hours in the past year. Although the partners will earn more money, there are many ways that non-partner users can monetize.
Here are 11 ways to monetize your YouTube channel and make money from online video!
To start making money with display ads, you need to have a partnership with YouTube and create a Google AdSense account. With these, you can start earning advertising revenue with the pre-roll and in-play ads that appear on YouTube videos.
Users can expect to earn approximately 20 cents per view. It doesn’t sound like much, but videos with thousands of views can make a lot of money with display ads alone.
Super Chats and Super Stickers
YouTube partners can monetize their channels by encouraging viewers and subscribers to use super chat and super stickers. Like the bits and chants available on Twitch, these super chats and stickers allow viewers to pay small amounts of money to get their comments featured or support the channel in small ways.
The limitation of making money with super chats and stickers is that these features are only available during live broadcasts. If you upload YouTube videos instead of live streaming, you cannot monetize with this feature.
Attract viewers to join your channel
Another advantage of the YouTube Partner Program is that it allows you to monetize when users join your channel. Joining a YouTube channel is like subscribing to a Twitch affiliate. Users pay a monthly fee to access custom emojis and additional content provided by the channel owner.
The important advantage of using YouTube over Twitch is that YouTube gives creators more revenue. Twitch splits the subscription fee 50/50 with the creator, while YouTube takes only 30% of the revenue, giving the creator 70%.
YouTube Premium offers viewers the opportunity to watch YouTube without any ads. Users pay a monthly fee to watch as much content as possible on YouTube without ads. These users are called premium subscribers.
YouTube divides revenue earned from premium subscribers between it and its partners. Each partner receives a share based on the amount of time Premium subscribers spend watching the individual channel.
Earn money without being a YouTube partner
To make money on YouTube in the above four ways, you have to join the YouTube Partnership Program. The strict requirements mean that you won’t become a partner overnight, but there are additional ways to make money on YouTube before you achieve this goal.
Here are seven additional ways to make money on YouTube that work for YouTube partners and creators who haven’t joined the partnership program.
Get rewarded from YouTube Shorts Fund
YouTube’s response to TikTok, shorts are quick videos that you can upload using your mobile device. The YouTube short features are still in beta, and YouTube rewards creators who use them. They have created a $100 million fund to give rewards to creators who use the shorts.
There is no guarantee that any user will receive a reward. They are based on the performance of short films on the channel and are rewarded monthly. The bonus amount varies and can range from $100 to $10,000 per month!
If you enjoy creating short format videos, making them in bulk and trying to get a short cash reward is a great way to make money with YouTube.
Drive traffic to your website
YouTube is just one of the many ways to make money online. Many users create a YouTube channel to drive traffic to their other online businesses where they have more control over user experience, sales, and ads. You can also make money podcasting, on Twitch, or as a social media influencer, and YouTube is an excellent marketing platform for all of these things.
To do this, be sure to include a link to your website in both your YouTube profile and your video descriptions. Users who watch your videos can click on the links and go directly to your website, which you can monetize in different ways.
Become a brand ambassador
Brand ambassadors work with specific brands to promote their products to the public. When looking for ambassadors, brands look for creators who have a viewership that matches their target audience. Some brands even work with small effects if the audience is right.
Brand ambassadors earn money through a contract with the brand. They will wear/display the brand’s products in most of the content they create. Promotion and payment details are highly dependent on contractual obligations and will vary with each brand.
Monetize your audience with affiliate marketing
One of the best ways to make money with a smaller audience is affiliate marketing. With affiliate marketing, a YouTuber can talk about a product they like and include the product affiliate link in the video description. If the viewer uses this affiliate link to purchase, the YouTuber will get an affiliate commission. It doesn’t cost the viewer anything extra to use YouTuber affiliate links.
When promoting affiliate products, be sure to disclose the relationship. Failure to disclose violates Federal Trade Commission (FTC) regulations and can make your audience lose confidence in you.
Create promotional videos
A Sponsored Video is a video that a brand pays you to create. It differs from a brand ambassador because it is generally one or two video deals, while a brand ambassador is an ongoing relationship with a brand.
Consider brands in your niche who might want to tap your audience for sponsorship deals. Smaller brands will frequently work with smaller content creators if the right audience and venue is right.
Set up Patreon
Many content creators turn to Patreon to earn extra income. This platform matches creators with donors and helps artists continue to produce high-quality content.
Patreon allows creators to set up different levels of donations, but you usually need to give your fans something in exchange for help. Many YouTubers provide additional video content, including unedited videos or error reels, and some make additional videos only for their owners.
Create your own merchandise
The last way to make money on YouTube is your merchandise. Some creators make paintings, crafts, or stuffed animals to sell directly to their fans, while others use Print on Demand platforms to sell T-shirts and other merchandise with their designs on them.
You can create other products, including courses, e-books, educational videos, or printables. The only limit to the type of merchandise you can sell is your imagination, but make sure it matches the type of video content you’re creating.
The truth about making money on YouTube
Learning how to make money on YouTube is just the beginning. The harsh truth is that it is much more difficult than it seems. To make money online, whether on YouTube, through blogging, podcasting, or any other online venture, you need to build an engaged audience. The more visitors to your platform, the more likely you are to make money.
Instead of focusing on making money, focus on upload quality, engaging content, and building your brand. If you can make it happen, money will surely follow.
More articles by Wealth of Geeks:
How to Make Money on YouTube (Beginners Guide)
How Much Do YouTube Users Make? + How to make money on YouTube in 2020
This article was produced by Wealth of Geeks.
Featured image credit: Shutterstock.