YouTube is a goldmine for making money. However, it’s not as easy as just uploading videos and waiting for them to generate the zeros in your bank account.
The key is to have your YouTube channel set up with the right settings, understand how ads work on the platform, and choose the correct content type that will attract viewers who are likely to click on an ad or buy something from your channel.
Yes, you have to put a lot of work into this, but if you succeed in the process, it will be an excellent opportunity to make thousands of dollars without too much effort later on, or, at least, you will enjoy what you’re doing.
Let’s suppose you have done everything that is needed to start a successful YouTube channel. Then, what is next in terms of generating money?
In this blog post, we will cover this part that many people don’t share and replace it with a few tips that help you build your channel, which isn’t bad at all, but talking about how to make money is crucial to know if this is your thing.
Top 6 Strategies to Make Money on YouTube
Before starting, it is essential to remember that YouTube has its own partner program like other platforms like Twitch (which we have also covered in an earlier post).
This method will be included in our article to make sure you don’t miss anything and, in all honesty, we find it one of the best ways to make money, to begin with.
And to answer a very frequent question: yes, you should do your best to include all strategies in order to have higher chances of making the most money out of your blood, sweat, and tears. That being said, let’s start!
- Join the YouTube Partner Program.
It doesn’t matter who you ask or what you read; the YouTube Partner Program is how regular YouTubers earn money due to their access to special features on the platform.
Overall, there’s no need for a partner to make money on YouTube since setting up an AdSense account and getting views is usually more than enough. However, the process isn’t easy nor as simple as it seems, but being a partner simplifies it.
The key to making money with the YouTube Partner Program lies in the multiple income streams you have available.
This is why the platform sets requirements and standards you have to meet in order to take part.
You’ll have to agree to follow all of YouTube’s monetization policies and live in a country or region where the YouTube Partner Program is available. You apply to monetization only after you have reached 1,000 subscribers and 4,000 hours of watch time in the last year.
YouTube, however, comes with five different ways in which you can make money which we will review below and add the requirements you have to meet as well:
- Advertising revenue: This is the usual money you get from your content’s display, overlay, and video ads. For it, you have to be at least 18 years old or have a legal guardian to access AdSense and create content that follows YouTube-friendly guidelines.
- Channel memberships: You can open special perks or options in your channel that your members will pay monthly to access. This requires your channel to have at least 1,000 subscribers, and you must be 18 years old.
- Merch shelf: You can include branded merchandise on your watch pages that your viewers can buy. This feature is unlocked when you have 10,000 subscribers.
- Super chat and super stickers: When you do streams (live transmission), your fans can pay to send a message and have it highlighted during the stream. You must be in a country where the option is available.
- YouTube Premium revenue: When a YouTube Premium subscriber watches your content, you get paid a commission by the platform.
Keep in mind that although it isn’t mentioned in all of the previous methods, you must be 18 years old or have a legal guardian that meets the age requirement.
- Sell Your Own Products or Merchandise.
You might argue with us and say that this option is included in the YouTube Partner Program. However, you have to deal with the requirements established by the platform, and something they don’t mention until you are setting the option is: they request a commission for the sales.
Instead of relying on YouTube to open this option for your viewers and subscribers, it is ten times easier to invest a bit in creating the merch and setting a website you can use.
You just need to take the time to think about a good design and idea. Otherwise, there’s no point in guaranteeing that it will be successful.
Now, how can you set the store aside from your YouTube? And how can you promote it?
For the latter, the answer is simple, but to answer everything in full, the reality is that you have to use one of YouTube’s approved websites for merchandise if you want to include the links and promote the merch.
You will also need to be smart when promoting the merch on your website since it is required to call people to action.
Finally, this could seem like a bad idea for someone starting a channel or who doesn’t want to use the YouTube merch shelf after it is available. Still, when you’re a small YouTuber, many people already want to support you and see you grow (of course, if you’ve built a good audience).
Therefore, don’t ditch the idea and just plan it properly.
- Sponsors Will Be Your Best Friends.
Haven’t you wondered how people who include music that isn’t approved by YouTube or inflict some of the guidelines still make money?
The short answer: sponsors.
Remember that your audience is what makes money and although you might be missing some opportunities and requirements, many brands and large companies are willing to pay you as long as you promote them.
As a result, you get paid by them for the content you’re creating, and many include a link you can use to earn a commission of the products or services bought by your viewers.
The key to making money with this is to find genuine sponsors and brands that aren’t making you promote products or services that don’t work.
You don’t want to work with fake brands and just want to bring others to spend their money (trust us on this more than anything else).
One thing to remember: you have to be creative when using this method.
Although YouTube is about creating good content, people get tired of sponsors and direct ads added to your videos.
Therefore, if you want the sponsors to be worth it (and don’t retire the money for your videos or sponsor more than one video), you will need to be even more thoughtful about creating your content.
A good example of this is YouTuber Aaron Marino or known as Alpha M, on YouTube.
This guy literally sells ANYTHING, even when you’re not eager to buy it, or is a straightforward ad that is telling you “spend your money here.”
Of course, his content has tips and approaches to different topics, but we have to be honest: most of the video is about reaching the point of a good product and brand.
We encourage you to look at any of his videos, and no for nothing, he has over 6.5 million subscribers.
- Consider Fan Funding.
Have you heard about Patreon, Buy Me A Coffee, or similar platforms?
No? Short introduction: they help you receive donations in exchange for special content you have available for the memberships people pay.
The system works with levels. You will have specific content available for each one, and the membership varies according to it.
People will access the content based on their membership, and it is a monthly payment you will receive, so they are able to continuously access this unique option.
It is similar to initiating crowdfunding campaigns, but these aren’t one-time options or specific projects and ideas (although you CAN set particular goals). Instead, the system works like a subscription similar to your YouTube channel, but that is paid in order for others to see your content. Makes sense?
This method is frequently used for YouTubers that have a hard time finding sponsors, are just starting, or want to share specific content with viewers, but it isn’t allowed on YouTube and other platforms.
In the process, they make money, but the only “tiring” part of this method is to continuously add new content for all the levels you open.
- Let’s Talk About Crowdfunding.
We briefly mentioned it in the previous option, but many would believe we weren’t going to consider it. Well, you’re wrong.
The main difference between crowdfunding and the previous option is that you don’t need to provide specific content for the money. You’re directly asking for donations in order to finance projects, needs, or ask your fans and viewers to support you.
Believe it or not, many YouTubers make money with donations only as a way for fans to help them to have some revenue, especially if the platform’s algorithms are giving them a hard time.
However, the best crowdfunding campaigns or those that are successful are meant for a specific purpose. Like financing new equipment, buy a new property, finance your college education, and many more.
The good part is that you can promote the campaigns on your videos, social media, and other platforms.
- Remember to License Your Content.
Many forget it, and just as many regret it.
If you haven’t noticed, some TV channels decide to share YouTube content because this is what people watch nowadays.
However, this isn’t legal if you have your content licensed and the platform streaming it isn’t paying you for doing so.
This is why it is crucial to license your content because even if you’re starting or a very small content creator, you never know when one of your videos and clips can go viral.
To guarantee you have licensed everything, keep your contact information on your “About Page” updated.
Next, make sure to sign up for a video rights place that can help you to license your content.
How Much Can You Make with YouTube?
Although people know this is a goldmine, they also know it isn’t for everyone, nor every single person makes the same amount of money.
As a result, many doubt investing time in this option since they believe it is necessary to be quite popular on the platform to make money.
Again, you’re wrong.
Making money with YouTube isn’t that difficult when you have reached a specific point, and the only difficulty is to continuously provide content.
We are not saying this isn’t hard work, but you will notice how things get smoother the more you grow, so this is why we encourage you to give it a try.
There’s no big YouTuber that started with thousands or millions of subscribers. All of them had to go through the same process and finally reach the point they are right now.
Here, we will provide you with some examples that include both big and small YouTubers so you can have a good idea of what income to expect.
But first, you must know that your income can vary depending on the methods you use and statistics, including daily video views, engagement rate, subscribers, and sponsors.
- Small and Medium YouTubers.
More than talking about big names, we usually love adding small or medium ones. Why? Because it sounds more realistic when you have no idea of how worth it is your time.
Therefore, let’s have a look at some of the stars we can mention:
- KayPea: The channel’s creator is an e-girl that uploads League of Legend content (a MOBA game). She started over five years ago and has 621,000 subscribers at the moment of writing this blog. Based on a basic income standard, she makes about $2.104 per video thanks to sponsors or similar income and about $1.450 per month for the YouTube Partner Program.
- Y: It is a Korean citizens’ reaction channel that reacts to music videos, Tik Tok’s, and viral content. It has 412,000 subscribers. However, since it has more monthly views than the previous example, its earnings per video reach $11.940 while the monthly income goes up to $23.361.
- Sneaky Gaming: It isn’t the main channel by this gamer YouTuber, but it is a great example for a small one since it has 30,400 subscribers, and although its monthly income sets at $62, he earns about $485 per video with this secondary channel.
- Katriinka: The creator is a vocal coach that reacts to music videos and specific content. Although her earnings per video only reach the $600 mark, she earns about $4.100 per month thanks to the partner program.
There’s a lot of variation in earnings, and we aren’t even considering the income from merch and other sources.
As you can see, views and subscribers are important, but the value of your content and how you monetize it means a lot.
- Large YouTubers.
What happens when we move to prominent content creators on the platform? Well, this is when millions start to come.
Many don’t believe it is possible, but the truth is that the numbers are real, and although the previous numbers are more realistic, you can get this big with a lot of work and some luck:
- PewDiePie: Who doesn’t know the second channel with the most subscribers on the platform? By this point, and especially if you’re considering YouTube, you should know about him. With the partner program, this gamer makes about $466k per month, while each video is monetized in about $72k. All thanks to his 110 million subscribers.
- MrBeast: Believe it or not, he earns more than the previous YouTuber. Due to the creator’s content and how he is sponsored, he makes about $1.6 million per video, while his monthly income for the program is similar, around $1.5 million. The channel has grown over the last two years and now has over 66 million subscribers.
- 8-BitRyan: A gamer that focuses on Indie horror games (or just horror in general) who earns about $10k per video, while his monthly income with the program reaches $100k. With only 3.7 million subscribers.
- Doctor Mike: He is quite the celebrity in the USA, and with his tips and videos about medical topics along with some vlogs, he has grown over the years (he is a doctor, by the way). Right now, he makes about $27k per video and $215k in monthly income. He has a total of 7.6 million subscribers.
Should You Give It a Try?
If you have some free time and want to make some extra money, YouTube is a great option.
On the other hand, if you want to go for an option that can make you live out of it, it continues to be a great idea.
You can make money with YouTube, and this is something you already knew before the previous information.
It is all about hard work, time, and patience. You might not hit a milestone in the first few months, but you can give it a try and start simple.
As we mentioned, everyone started from zero, and if you have some great ideas or want to follow trends, don’t give up on this opportunity to make money.
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