Since the existence of YouTube in 2005, it has grown into the biggest video streaming platform. YouTube report shows that 2 billion logged-in users visit YouTube each month, and every day people watch over a billion hours of video and generate billions of views. In check with this digital change, you should become proficient in various ways to make money on YouTube.
In this article, we will break down how you can make money on YouTube by being a YouTube partner, and the most interesting thing is you can also make money on YouTube without being monetized.
If you are just getting started on YouTube, this link will guide you on how to start a YouTube channel to make money
Let's get started.
How To Make Money On YouTube
Do you know that 30,000 hours of video is uploaded every hour across the world on YouTube? This video contains different content, niches, and a revolving concept from different people, which makes the competition on YouTube high.
The question now is, how do you intend to fit into this circle? This diversity should give you an edge on making yourself unique from everyone and doing something your competitors are not doing.
To make money on YouTube, the first thing you need to do is, you need to be a YouTube partner by joining the YouTube partner program, to get access to different monetization features. Each feature has its own set of eligibility requirements.
How Does YouTube Partner Program Work?
The first thing you need to take note of is the requirements to apply for YPP.
Ensure your channel follows YouTube community guidelines
You must live in a country or region where the YouTube partner program is available
You should have more than 4000 valid public watch hours in the last 12 months.
Ensure you have more than 1000 subscribers on your YouTube channel.
You should create a Google Adsense account
If your channel meets the requirements above, then you should apply for YPP. Ensure you set up a two-step verification code on your channel to avoid any delay while applying for YPP. After the application process, YouTube will review and approve it. The application process might take long but that doesn't stop you from posting on your channel.
You can make money on YouTube through the following features:
Youtube premium revenue
Super chat and super stickers
i. Advertising Revenue - You can become a YouTube partner and make money through google ads. YouTube pays YouTubers every month through revenue generated from google advertisements. This is the reason you need to set up your Google Adsense account, which needs to be linked to your YouTube account.
If your application for YPP gets accepted, YouTube automatically gives you the right to place ads on your channel, the more YouTube can reach through you, the more they pay you.
YouTube pays creators 55% of the revenue while YouTube takes 45%. The requirements for earning on YouTube through ads revenue is; you must be at least 18 years of age or have a legal guardian older than 18 years of age who can handle your payments via AdSense.
You must create content that meets YouTube advertiser-friendly content guidelines.
It's easy to use YouTube and earn on it if you can simply adhere to their rules and understand the YouTube algorithm.
As a YouTuber who wants to earn a lot of money. It is not advisable to pin one's hope on only Google ads, because the price fluctuates monthly. It might be ridiculously high this month and low next month. That is how the YouTube algorithm works, based on how good your content is doing for that month.
Also, YouTube demonetizes content that does not follow its advertiser-friendly content guidelines, any of your content that violates the guideline, you most likely won't earn from the content. To avoid stories that touch, it's suitable to also use other streams of earnings on YouTube, to make money.
ii. Channel Membership - Channel memberships allow your viewers to support your channel through monthly payments in exchange for member-only perks.
It is a way to engage more deeply with your audience members that purchase monthly channel membership. In turn, the creator earns more money. Channel membership perks are only available to your active paid members.
Channel membership perks include custom emoji, loyalty badges, and other access to perks you offer. YouTube makes it compulsory for you to create at least one perk to offer your members. Canadian YouTubers Martina Sazunic and Simon Stawski are also known as Eat your kimchi studio.
They create a raw and unedited video specifically for their channel members, aside from custom emoji and inside jokes, This perk helps to connect them more to their special audience and it's a way of giving back to your audience
These perks must comply with YouTube policies and terms. The goal for you as a creator is to provide these members exclusive content, create something unique from what a regular user will get. For every YouTube Membership payment, the channel owner receives 70 percent of the funds while YouTube takes 30 percent.
The requirement for channel members is, you must be at least 18 years of age and have more than 1,000 subscribers.
iii Merch Shelf - Branded march is a big win for YouTubers, This feature allows eligible channels to market their official branded merchandise on YouTube, it also gives them the ability to sell up to 12 items of merchandise to their audience.
Requirements for Merch shelf are, you should be a YouTube partner, you need and have more than 10,000 subscribers. This is a good option for YouTube influencers to earn more money aside from google ads.
For instance, Sean McLoughlin, an Irish YouTuber who has over 27 million subscribers on his YouTube channel, offers a range of branded Merch, most of which features his signature color, green. This earns him extra income on his successful channel.
iv YouTube Premium Revenue- This feature allows creators to earn a secondary source of revenue. All your content is available to YouTube premium members, it costs 12 dollars per month.
The perks that come with premium membership is that it gives your members access to download your videos and watch them offline, it allows them to play the videos in the background which helps creators earn more watch time.
The revenue is distributed by YouTube based on how much your members watch your content.
v Super Chat and Super Stickers- Super Chat and Stickers provide another way to monetize your channel. This allows your user to have their chat or stickers highlighted to your live streams.
This is more like fan funding. It allows you to engage with your community. Super chat is a comment that will be pinned in your live stream chat, based on the monetary amount, it would change colors and could be longer or shorter.
This feature provides another source of revenue for creators and it provides another way to engage with one and other.
Super stickers provide viewers to buy Super Stickers during live streams or Premieres. Super Stickers are animated images that allow viewers to convey emotions in response to what is happening live.
The requirement for Super Chat & Super Stickers is 1000 subscribers, you should be a Member of the YouTube partner program and must be among the list of eligible countries here.
How To Make Money On YouTube Without Being Monetized
You must be wondering what if you're not monetized yet or your channel does not reach YPP requirement, does that mean you can't earn money on YouTube, The answer is NO, you can still earn money on YouTube. Although you need to have a substantial audience on your channel.
Ways To Make Money On YouTube Without Being Monetized
i. Affiliate Marketing- This is the process by which an affiliate makes a profit from marketing a brand's product. You earn on each piece sold by you.
Normally the brand gives you a certain percentage you'll earn on every purchase made by a consumer. Affiliate marketing revolves around 3 cycles; Seller, Affiliate, and Consumer.
When making your YouTube videos you can let your audience know they can get a certain product that you use, at a discounted price, the more they use the link to make a purchase, the more earnings for you.
A known affiliate is Amazon Associates, which helps creators monetize their traffic. Amazon also pays their affiliate based on whatever the purchaser gets via your referral link, it does not necessarily need to be the product you recommended.
Affiliate marketing works and a lot of people earn a lot from it. As a YouTuber, you can use your platform to market the company's product and earn yourself extra income.
ii. Digital Product- As a YouTube creator you can take up online courses or sell your Ebook. This is a way to make extra income for yourself.
Ensure whatever it is you decide to teach or sell offers a lot of value to your audience, which will make them build trust in you to buy subsequent Ebook or online courses you do.
Take up courses you know of, make sure the content is impactful, your student or anyone who purchased the online course or Ebook, let them have a reason to purchase your content again, or refer someone to you.
iii. Brand deals- You can also earn money from working with brands, by creating content for them. For those who have few audiences on YouTube.
To be realistic, if you are just getting started on YouTube and you are looking towards a partnership or brand deal with a company, you need to reach out to them, by carefully crafting out a perfect email, explaining to them what they will gain if you work with them as an ambassador or influencer.
Nowadays, brands look out for someone who can create amazing content for them [in terms of visuals], leaving your audience aside. A brand deal should be a win for both sides.
As a creator, you should not create mediocre content for brands you partner with, market their product like it is your product.
To know the price to charge any brands your partner with, you can use social bluebook, they review your channel and they let you know how much you can charge brands.
iv. Collaboration - Collaborating with other YouTubers indirectly increases your chance of earning more money. The reason is, when you collaborate with other YouTubers it increases your audience and it helps you grow your YouTube presence. Through this process, your channel unfolds to more money-making opportunities.
Now that you know various ways to earn money on YouTube, whether you are monetized or not. You should implement different monetization strategies for your channel, to know which works for you well.
If you are just getting started on YouTube, it may not seem profitable immediately. YouTube journey is an endurance marathon, it is not a sprint. You don’t drop it because it isn't working. Just enjoy the process.