For many people, making money on YouTube is a dream. After all, YouTube users seem to live wonderful lives and enjoy the admiration of their fans. Moreover, creating a YouTube channel is easier than ever before, so having big dreams and high aspirations is never a bad thing.
How to Make Money on YouTube
There are several different ways to start making money on YouTube, most of which revolve around creating engaging video content. Here are some common revenue sources:
1. Join the YouTube Partner Program
If you’ve ever wondered how to make money on YouTube, you need to understand the YouTube Partner Program and how it works. YouTube content creators are unable to monetize their videos until they are approved for the YouTube Partner Program.
When your YouTube channel has 1,000 subscribers and 4,000 public watch hours, we will review your eligibility to join the Partner Program. This means that before reaching these numbers, you will not be able to generate any income, so it’s important to keep creating content and grow your channel’s reach. Once you meet the program’s criteria, you can apply to monetize your channel.
How to Enable Monetization on YouTube:
- Sign in to the YouTube account you want to monetize.
- Click your account icon in the top right, then click YouTube Studio.
- From the left menu, select Monetization.
- Read the terms of the Partner Program carefully and click Agree.
- Link your existing AdSense account or create a new one for your channel.
- Set your monetization preferences.
Once these steps are completed, go back to the dashboard and open the "Analytics" tab on the left. On the next screen, select "Revenue" from the top and scroll down until you see the "Estimated Monthly Earnings" graph. This graph will give you an idea of your expected monthly income.
2. Earn from YouTube Premium
YouTube Premium is a paid subscription service that allows viewers to watch videos without ads. When YouTube Premium subscribers watch your videos, creators automatically earn additional revenue.
Similar to the monetization rules based on ads, most of the YouTube Premium earnings go to creators (distributed based on how many Premium subscribers watch their videos).
Premium subscribers can also download videos for offline viewing and play them in the background, increasing your watch time.
Consider YouTube Premium subscriber revenue as a secondary income source, complementing the revenue you earn from channel ads.
3. Offer Channel Memberships
When your YouTube channel reaches over 30,000 subscribers, you can add another revenue stream by utilizing channel memberships. Fans can pay $4.99 per month to join membership packages, which include perks like early access to videos, member-only live chats, exclusive emojis, and more. Members will be highlighted with special membership badges in comments, live chats, and the "Community" tab.
It makes sense to offer channel memberships since viewers are well aware that catching the attention of YouTube creators can be a real challenge. So, here’s another answer to how to make money from YouTube.
Pro Tip: Use your videos to remind people they can become exclusive members by clicking the "Join" button on the page.
4. Endorse Affiliate Products in Your Videos
Businesses are well aware of the potential of YouTube channels with a large following, and they are always looking to capitalize on this to grow their business.
Once you gain a large following on the platform, you might find companies reaching out to you and asking you to promote their products in exchange for cash. Consider becoming an affiliate for these brands and adding product placements in your videos. You can also join popular affiliate programs to expand your affiliate network.
Pro Tip: Only promote products you believe are valuable to your audience, and disclose your partnerships to comply with YouTube’s policies.
5. Monetize Through Super Chats and Super Stickers on Live Streams
Super Chats and Super Stickers are two popular new ways to make money on YouTube.
Super Chat is a feature that allows creators to receive donations from viewers during live streams. Super Stickers are animated images that viewers can purchase to add an interactive element to their conversations.
You can enable these features in YouTube Studio by going to "Earn" > "Super" and following the on-screen instructions.
6. Become a YouTube Influencer
With the rise of influencer marketing, as a creator, you have a huge opportunity to get involved.
But where do you start? YouTube marketing expert and influencer Brendan Gahan suggests that creators calculate their fixed fee by multiplying the number of views their videos typically get by $0.15 per view.
Digital marketing agency WebFX listed the following numbers showing the expected income of YouTube influencers:
- Creators with 1 million subscribers earn $20,000 per video
- Creators with 100,000 subscribers earn $2,000 per video
- Creators with 10,000 subscribers earn $200 per video
The key to earning more income is partnering with brands that offer products valuable to your audience.
7. Sell Your Own Products
Whether you want to make money on YouTube or just share your passion, promoting your products on your channel helps. Mention these items in your videos and descriptions to attract more visitors to your website.
If you haven’t already, Shopify makes it easy to set up an online store. Once your store is up and running, you can sell products related to your content. These could be your own catchphrases, items featured in your videos, or anything your viewers may like.
Pro Tip: Leverage user-generated content by encouraging your viewers to share how they use or design your products. Showcase their photos or videos in your content to reflect their personal style, enhancing trust and interest in your product line.
8. License Your Content to the Media
Are you watching a viral video? A video that captures unforgettable moments or makes people laugh? Consider licensing it to TV shows or media outlets to turn that buzz into cash.
You can list your videos on platforms like Jukin Licensing, which connects viral content creators with potential buyers. This makes it easier for those looking to broadcast captivating content to find your unique moments.
9. Cross-Promote Your Offers
Don’t limit your content to just YouTube. Be sure to promote it across all your social media channels, such as Instagram and Facebook.
Announcing new videos or promotions on different platforms can significantly increase your visibility. Expanding your influence beyond YouTube through social media marketing is key to attracting more viewers.
Tips to Increase YouTube Engagement
- Keep your video length over 10 minutes: When you create videos longer than 10 minutes, you’ll have a greater opportunity to earn more revenue through ads.
- Collaborate with other YouTubers: Another way to get more YouTube traffic is by collaborating with other YouTube users.
- Create engaging and informative content: This is key to the success of your YouTube channel.
- Utilize your descriptions: Descriptions are another valuable answer to how to make money through YouTube videos.
- Build your following with consistent posting: Posting content consistently is a good idea.
Become a YouTube Entrepreneur
Most creators don’t start out with dreams of making tons of money. They just want to share what they love with the world.
Your next step? Use that creativity and motivation to find cool ways to monetize from your audience and what you love to do.