Many of us spend a large chunk of time, while watching videos regarding products, animals and other topics on YouTube. For us, YouTube might just be a video streaming website, but for some people it is a source of income.
Many famous Youtuber’s like Pewdipie, Logan Paul, Jake Paul and others have made millions of dollars by uploading videos on YouTube.
Earn through ads
The first way by which a YouTuber earns money for their videos is via ads. A YouTuber needs to join the YouTubers partners program and enable monetization for their videos. You need about 1000 or more subscribers and more than 4000 watch hours in a year on your YouTube channel. These are the requirements for enabling monetization on your YouTube channel.
How to turn on monetization?
- Log in into your YouTube account, which you want to get monetized
- Move your cursor in the right corner and tap on the icon of your account
- Now press YouTube studio
- Once you have entered the YouTube studio, go to the left menu and choose other features.
- In other features, click on monetization
- You will be provided with the terms and agreement of your tube’s partner program. Read these and then click on agree.
- Develop an AdSense account for your YouTube channel.
- Select the preferences for your monetization
- Go back to the main page and select the analytics from the left side.
- In the analytics, you will be provided with the details of the generated income.
Does the number of views determine your income?
No, the YouTube payment system does not work this way. YouTube does not pay anything to the content creators from their pockets. The content creators get paid for the ads that are being displayed in between or before their videos. There are thousands of videos on YouTube with a decent amount of views, but the creators of these videos do not earn a single penny. The reason is these creators have not enabled monetization or ads are not being displayed in their videos.
Develop merchandise
What many YouTubers do is that once they gain the attention of millions of subscribers, they start their brand. Through this brand, they can sell products like clothing, action figures and various other items. This income stream enables them to earn millions of dollars in a short span.
If you have no experience in the development of any kind of products, you are recommended to partner up with a reliable brand. This brand would charge a commission for their services but would provide benefits in the long run.
While developing your merchandise, make sure that you represent the ideas and personality’s that you show in your videos. Make sure that the audience can relate to you while wearing your merchandise.
Many store owners would be jealous of your merchandise mainly because of 2 major reasons:
- Your website would gain a decent amount of clicks on daily basis.
- The audience would trust the quality of your products blindly because you have gained their trust by providing them content for free via your YouTube videos.
Gain support for your videos via Fan funding’s
If you are developing YouTube videos, mainly for supporting your family or considering it as your main income stream, then you gain donations from your audience.
People upload content on YouTube without charging an admission fee to their audience. If creators are offering good content, then people might provide financial support to these creators.
There are many platforms by which content creators can attain donations from their audience.
- YouTube super chat: This is a funding option provided by YouTube. Super chat can only be enabled, while a content creator is live on YouTube. Viewers are allowed to donate as much money as they can to the creator during the live video. YouTube will take a certain percentage from these donations as commission.
- Patreon: This is another platform for receiving donations from users. This platform offers membership programs to its users. A user can subscribe to their preferred YouTuber and donate whatever they feel like. Users will be charged a dollar per month as a membership fee and would get rewards from Patreon as well.
- Crowdfunding: On this platform, content creators are required to tell their audience, that how the donated money will be used. Add some extra benefits for exclusive members of your fan club. Due to these strategies, users will promote feelings of loyalty towards the creators and would donate generously.
Final thoughts
YouTube is one the best platforms for earning lots of money in a short span. All the person needs to do is to engage with their audience through unique ideas. Once they establish the bond of trust with their audience, then they can establish their businesses through various other methods and become millionaires.
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