YouTube stars are today's self-made celebrities; they have gained a following by producing online contentthat is intended to inform, amuse, review, and otherwise be fantastic.
With 1.9 billion monthly users, YouTube accounts for 50% of all internet traffic. However, 500 hours of videos are also being posted to the website every minute.
The majority of these small-screen celebrities work at what they do purely out of necessity, to satisfy their urge to create and perform in front of people.
Creating a YouTube channel for financial gain may not have been your primary motivation, but once you discover how many chances there are, you'll be glad you did.
You may want to look at our online income guide. We have listed 6 ways how to get rich by being a famous YouTuber. Read more below!
Intro to Making Money on YouTube
Regular YouTube users can access exclusive features on the website through the YouTube Partner Program.
Being a Partner makes things much easier, but you don't need to be one to make moneyon YouTube.
YouTube Partners have access to several revenue streams, including not simply video adsbut also YouTube Premium subscription costs and services like Super Chat, channel memberships, and the product shelf that directly tap into the wallets of your devoted followers (more on these later.)
There are two types to make moneythrough advertisements: CPM (cost per thousand views) and CPC (cost per click).
If the ad is CPM, the user of your YouTube video must watch it for at least half of the duration, which is usually greater than 30 seconds if the video is short. This is more implausible than it sounds if you think about how often you watch YouTube.
If the advertisement is CPC, you will be compensated according to the number of viewers who click on the adverts that appear next to your video.
Advertisers typically pay $.18 per view. Your channel is worth $18 if it reaches 1,000 views. A YouTuber would make (on average) $9.90 for every 1,000 views because Google retains 45% of the revenue.
You set up an AdSense account as soon as you start earning money so that the advertisers may pay you when views or clicks come in. When your AdSense account balance hits $100 or higher, you can only direct deposit your earnings.
We have added steps on how to enable monetization on your YouTube account so you can start earning money!
Step 1:Sign in to the YouTube account you wish to make money from.
Step 2: Make your channel valuable enough to satisfy the standards of the YouTube Partner Program.
You must have at least 1,000 subscribers and 4,000 watch hours over the last 12 months to be eligible to join the program.
Step 3: In the top right corner, click the account symbol.
Step 4: Click on YouTube Studio.
Step 5: Choose Other Features > Monetization from the left menu.
Step 6: The YouTuber Partner Program terms have been read and accepted.
Step 7: Open a fresh AdSense account or link your channel to an existing one. (To be paid, you must have an AdSense account.)
Step 8: Set your choices for monetization.
You must explore monetization features to maximize your earnings on YouTube. However, different criteria apply to different monetization channels.
Ad revenue: In order to receive ad revenue, you must be at least 18 years old and produce material that appeals to advertisers. In essence, the less contentious your films are, the more comfortable YouTube advertisers will feel placing adverts on them, and the more money you will make.
YouTube Premium revenue: If a YouTube Premium subscriber views your video, you will receive a percentage of their monthly price. (This one is good because it is automatic.)
Channel memberships: You must be at least 18 years old and have more than 30,000 subscribers in order to sell channel memberships to your subscribers (i.e., have your followers agree to pay you an additional fee).
Merchandisingshelf: You must be at least 18 years old and have at least 10,000 subscribers in order to sell products from YouTube's merchandise shelf.
Super Chat payments: You must be at least 18 years old if you want your viewers to be able to pay to have their messages highlighted in your live chats during your live streams (and live in a country where the feature is offered).
Step 8:Always follow community rules.
According to YouTube, your channel will be held to a higher standard if you become a partner. You must adhere to both the Community Guidelines and the YouTube Partner Program rules. Not to mention abiding by copyright regulations.
AdSense for YouTube Creators
Look for businesses that invest in affiliate marketingif your YouTube audience is devoted and active but not quite there in terms of popularity.
An online store will pay YouTubers a commission through an affiliate marketing deal for any traffic or sales the YouTubers refer.
YouTubers who are associated with brands encourage their subscribers to visit the brand's website or particular product pages. Then, as you might have predicted, they receive a cut of any sales generated by their affiliate connections.
Below are excellent ideas for an affiliate YouTube video:
- a video of the item you're attempting to sell being unboxed
- an online video in which you promote the good or service
- a video evaluating the item
YouTubers will receive payment from advertisers depending on their CTR (click-through rate, or how many people really click the link you included), conversation rate (how many people actually purchase the product through your link), and then a commission on the actual sale.
Let's imagine a video has 1 million views and a CTR of 2% and a conversion rate of 3%. The product is purchased by 600 people, and the YouTuber makes $5 from each sale. Accordingly, the YouTuber earns $3,000 from affiliate marketing for every million views.
The benefit of using the #sponcon approach is that you are exempt from having to give YouTube a portion of your profits. The brand pays you directly after a straight negotiation. It makes sense that YouTubers use it as a common method of income.
When you reach success on YouTube, sponsorships are a prized possession. A brand normally won't take the risk of funding a YouTuber until they have established themselves as popular and trustworthy, with a sizable fan base.
Brands are likely interested in you if you can provide them with a sizable and/or active audience, and your material is pertinent to their target market.
How does a sponsorship appear? It's possible that the brand pays the YouTuber to make a special video about a new product launch, corporate event, website launch, or another occasion.
Alternately, if a brand supports an entire YouTube channel, every video the YouTuber uploads must include a product recommendation (or use, if appropriate).
Depending on the expected total number of views for the pending video, YouTubers charge brands anywhere from $10 to $50 per 1,000 views. The YouTuber can earn between $10,000 and $50,000 if the video has one million views.
Step 1:Find a company to collaborate with.
When it comes to the brands you work with, quality is crucial. You probably already have a list of ideal brands on your wish list. Make sure to polish your brand pitch before sending it, whether you're shooting for the moon or growing yourself from the ground up.
Also, think about registering with an influencer marketingnetwork. These are middlemen websites that assist marketing companies in locating the best influencersto collaborate with. For instance, FameBit was one of the first to concentrate on YouTubers.
Step 2:Negotiate an agreement.
YouTube videos are, on average, the most expensive type of sponsored content marketers can buy from influencers, according to a new report by influencer marketingplatform Klear.
In essence, YouTube influencersare able to charge more for their films than they would for Instagram Stories or Facebook posts since producing videos is more expensive.
Before you sign a contract, be aware of your worth. Your rate will vary depending on the size, engagement, and relevancy of your audience to your prospective partner.
Step 3:Be transparent about your sponsored advertisement.
Featured content is promoted content. Therefore, you must ensure that your actions are compliant with Google's Ad policies. If you're an American or a British citizen, you should be aware of the rules set forth by the FTC (U.S.) and ASA (U.K.).
Both your legal standing and your relationship with your audience benefit from transparency. To help you make sure your audience is aware that you are advertising to them, YouTube includes a visual disclosure function.
You can consider yourself to be an entrepreneur second, and a content creator first. Keep in mind that Drake offers t-shirts as well.
If, on the other hand, you're a businessperson first and a video maker second, you undoubtedly already have a product to sell and are planning your YouTube marketing strategy accordingly.
In either case, selling items on YouTube is a practical method to make money.
Patreon is a crowdfunding site. Patreon, which plays on the idea of patronage, enables YouTube subscribers to pay extra money for their videos.
They may want to pay $5 per month for early access to videos, $10 per month for behind-the-scenesmaterial, or $15 per month for access to additional videos or bloopers, for instance.
This enables viewers to support their favorite YouTubers, allowing them to keep making excellent videos without having to worry about money.
And ideally, with perseverance and the support of their followers, YouTubers will eventually sign a sponsorship agreement with a well-known company.
Follow a few best practices if you decide to go the crowdfunding way. Start by making the intended use of the funds transparent.
Your fan following will become emotionally invested in your narrative or objective and they will genuinely begin to see the worth in your work.
Second, provide alluring incentivesfor higher pledges. More contributors and bigger promises are likely to come in if you can give them a sense of exclusivity for being devoted supporters.
Every news outlet would want to obtain a copy of a viral video so they may play it for their viewers. The good news is that reputable media organizations are conscious of the fact that they must pay for the resources they use.
And there you go—another way to monetize your YouTube channel.
Making yourself accessible to the media can help you as a content creator to license your most popular pieces.
AdSense is a key source of revenue for YouTube. Simply said, YouTubers are compensated for each time an ad is viewed on their channel.
However, rates differ across regions, populations, and even businesses (software ads may have a higher CPM than, for example, clothing ads).
YouTubers often earn between $3 and $5 for every 1,000 video views thanks to AdSense. This can add up to a nice payment if a lot of people are seeing your channel. Large publishers frequently receive over $200,000 in monthly payouts from AdSense alone.
However, keep in mind that YouTube fame depends on many factors, some (or most) of which are outside of your control - the YouTube algorithmcan change, as can your audience's tastes and demands.
This is true even if your channel is trending and AdSense income is filling up your bank account.
YouTube content creators have a variety of options to make money, including selling merch and obtaining sponsorships. But a significant portion of the income of many YouTube stars comes from Google advertising. The YouTube Partner Program allows social mediacreators to monetize their videos using Google-placed adverts.
For YouTube stars with at least 1 million subscribers, their average annual pay is $60,000.
While YouTube provides opportunities for everyone, it is hardly a platform for instant wealth. Making money on YouTube involves time, effort, and a dedicated audience. The good news is that you can find ways to make money before reaching the desired 1,000 subscriber mark with a little motivation and lots of effort.
Follow the tips on how to get rich by being a famous YouTuber given above and branch out to make sure the money you earn on YouTube becomes a wholesome and reliable income.
Even if, for whatever reason, your AdSense payouts decline, you can still generate money through merch, branded deals, and crowdfunding.