YouTubers aren’t paid by YouTube for the videos they upload on their channel. Neither the monetization of videos happens on its own. For creators to start making money on YouTube, they have to enable monetization in their YouTube account settings. From there, they get the option to join the YouTube Partners Program or have their videos posted on YouTube Premium. YouTube channels can be monetized even if the creators don’t have millions of subscribers on their channel. Creators’ earning potential isn’t determined solely by the number of subscribers and views they have on their channel, but also by the level of engagement they generate, the audience they cater to, and the revenue channels they explore. However, this doesn’t mean that number of subscribers doesn’t matter. Now in this article we will tell you some ways to earn money on YouTube:
1. By joining the YouTube Partner Program and earning money from ads:
The first revenue stream that creators should consider is ads. Whether someone wants to earn money on YouTube without creating videos or as a content creator, joining the YouTube Partners Program and enabling monetization is an important step. Creators are eligible to apply for monetization once they hit 1,000 subscribers and 4,000 watch hours over the past year. It must be noticed that the number of views the creator gets doesn’t correlate to revenue earned. If the video gets thousands of views but no one watches or clicks the ad then the creator won’t make any money. This is due to the fact that YouTube bills advertisers when a viewer clicks an ad or watches the ad in full so creators also get paid only when this criterion is fulfilled.
2. Selling products or merchandise:
There are many products that creators can sell to make money through your YouTube channel. It includes selling merchandise like t-shirts, coffee mugs, tote bags, snapbacks, etc. not only increases revenue but also increases your exposure by bringing the channel’s online brand and personality out into the offline world and deepens the relationship between creator and his fans as they literally “buy” into what creator is doing.
3. Licensing made by the creator:
If a creator creates a video and it goes viral with mass appeal for example a funny clip that becomes a popular meme. The creator can license that video in exchange for money. Nowadays TV news outlets, morning shows, online news sites, and other creators reach out about rights to creators whose videos go viral.
4. Working with companies and promoting brands:
Companies are investing more and more in influencer marketing by spending their huge advertising budgets on influencers who’ve already won the heart and loyalty of their audiences. This creates a massive opportunity for YouTube creators; they just need to negotiate the right deals. The creator should be transparent about partnering on brand–sponsored content, he shouldn’t advertise anything that he doesn’t like or believes in and should be true to his audience about the reason he decided to do it.
5. Fan funding:
This procedure for bringing in cash on YouTube incorporates a couple of various revenue sources, however, they all have one thing which is common: creators need to make it simple for their fans to show their appreciation with their credit cards.
I. Super chat: This feature is only available to YouTube Partners while they live stream. Using these features, viewers can make their comments more visible—they’re highlighted and pinned for a set amount of time depending on how much they pay—in the live chat stream.
II. Channel membership: YouTube offers the chance to let the viewers of a channel pay become members of that channel. In exchange, they get benefits that are exclusive to members only like custom emojis, badges, and access to members-only exclusives like Live Chats with the creator.
III. Encouraging audience to subscribe to YouTube premium: it doesn’t benefit the creator directly as the creator gets a cut from the subscription fee when premium member watches the videos on his channel. It also increases the revenue of others creators in the same way.