YouTube is lucrative source of revenue for creators. The site offers a variety of ways to make money off engaging video content. Read below and discover the many ways to get paid for doing what you love most:
1. Advertisements
Creators receive a significant portion of their revenues via ads. Once your channel is set up for monetization, YouTube will connect your channel to advertisers. You get paid when viewers watch the ads displayed in your videos. However, you can earn money via ads only if your channel receives high traffic. Advertisers prefer channels that have a large number of engaged subscribers. Therefore, it is recommended that you grow your audience before you enable monetization. YouTube offers a variety of ad formats that you can enable to maximize revenues. Grow your audience and create brand-friendly content to keep the ad money rolling.
2. YouTube Red subscriptions
You can also make money through YouTube Red subscriptions. Some users pay a recurring subscription fee to avail better video viewing experience like watching videos without ads. YouTube will pay your channel based on how long viewers spend watching your content compared to others’. This means, your channel’s watch-time should be high to generate significant revenue via YouTube Red subscriptions. You will receive subscription revenue payments at the beginning of every month. Thus, YouTube Red is a great way for you to earn extra revenue in addition to what you’re already making via ads.
3. Brand placements
YouTube channels offer a lucrative platform for brands to promote their products. Brands usually pay channels with a similar target audience for active or passive placements, custom videos or storyline integration. You can even collaborate with brands and make money. If your channel has a large number of subscribers, reach out to relevant brands with a pitch. Your pitch should include channel statistics on audience and reach, channel accomplishments and examples of your best videos. Brand placements not only forge your relationships with brands but also help generate an additional source of revenue.
4. Merchandising
Launch merchandise to boost your channel’s brand image and earn additional revenue. Merchandising is also a great way to interact with your fans. Design products that are an extension of your channel. Announce the launch of new products with a video. Use strong calls to action, telling viewers to purchase your products. Promote your merchandise on all social accounts. Additionally, include links to purchasing merch in your channel and video description, information cards and interactive annotations. Interesting merchandise is a great way to make money through your YouTube channel.
5. Crowdfunding
Crowdfunding is useful for raising money for your independent projects. You can start a crowdfunding campaign and call your fans to help raise funds for your channel. You can use external platforms such as Kickstarter, Indiegogo, Patreon and Subbable to raise money for your campaign. Your campaign must clearly specify what you want to do, how you’re going to utilize the funds and what your channel has to offer. You must be able to convince backers that your project is worthy of their donations. Crowdfunding is a great way to get financial aid for your channel, when done right.
6. Fan Funding
YouTube offers a built-in tip jar where viewers can donate money to support your channel. You will receive most of the money donated by viewers while YouTube retains a small processing fee. This feature is available only in Australia, France, Mexico, Spain, UK, US and Japan. To enable Fan Funding, your channel must be in good standing, meet the criteria for YouTube partnership and have an approved AdSense account. You must also be a resident of the aforementioned countries to be eligible for a hosting a built-in tip jar. YouTube is currently working on introducing Fan Funding in more countries around the world. Fan-funding is a great way to allow viewers to offer monetary support for your channel.
Conclusion:
YouTube is a great place to make money with your videos. With a large community and engaging videos, you can choose to set up multiple revenue streams for your channel. Make sure you choose a strategy that best suits both your channel and audience to keep the dollars rolling.
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Manasa Boggaram is a writer and has a strong passion for music, positive news and constructive journalism. When she is not researching story ideas or writing blog posts, she spends her time reading books, discovering new music and eating lots of street food.
Very good and true knowledge (6 points)