If you are currently reading this article, chances are that you are looking for ways on how to make money on YouTube and that is a really smart step to take. Read the article to find out how to earn millions on YouTube.
Undoubtedly, YouTube has become one of the most popular social media platforms in the world. The platform is unique in its own sense and unlike most other social media platforms like Facebook, Twitter, Instagram that combines texts and videos, YouTube focuses on the use of videos.
Lately, a new feature has been added for channel owners to post photo updates for interactions and engagements with their fans and other users of the video hosting and sharing platform.
Although YouTube is growing in numbers each day, not all have taken advantage of it. The platform, of course, provides the opportunity to learn and get entertained but it is a way to make money online.
In this post, we go through the art of making millions on YouTube, by looking at several issues such as what YouTube is, an overview of their making money system, the types of revenue sources, the requirements for the revenue sources and some popular strategies to drive traffic for more revenue.
What is YouTube?
As earlier indicated, YouTube is a video-based social media platform that encourages the creation of unique video content. The platform is owned by a popular search engine company, Google, and has attracted a lot of users since its inception years ago.
On the YouTube platform, there are two main users: content creators and viewers or subscribers. Content creators are those users who take time to create special videos to be uploaded onto the YouTube platform. Each content creator has a YouTube account called a channel that helps to organize all videos created and uploaded.
On the other hand, viewers are those who just go onto the platform and watch videos either for entertainment or educational purposes. There is also an advanced form of users on the platform which is the subscribers. These people subscribe to a particular channel and offer a certain level of commitment to some preferred channels.
How To Make Money On YouTube
Among the two users mentioned above, it is the content creators who have the opportunity to make money on YouTube. Just like its partnership with various websites and blogs, YouTube via Google helps content creators make a living out of the content they create online.
This has created several opportunities for content creators who have taken the job as either a full time or part-time one.
Ways Make Money On YouTube – Revenue Sources
Broadly speaking, there are five ways to make money through the YouTube platform. They are Advertising revenue, channel memberships, merch self, super chat and super stickers, and YouTube premium revenue.
This revenue source is very much similar to the one provided to content creators on websites and blogs. Here, content creators are given the opportunity to display different kinds of adverts including display ads, overlay ads and video ads.
On most occasions, these ads are relevant to the dominant queries made by the user, thus there is the possibility of several ads playing for different people on the same YouTube video.
In order to be eligible for this revenue source, a content creator needs to meet the basic criteria of having at least 1,000 subscribers. These will help gain the AdSense account which will be used in the monetization of the channel.
Channel memberships are quite unique from the other revenue sources. With this, virtually no ads are played on videos watched by viewers.
Instead, it operates like subscription-based podcasts or websites, where the audience pays monthly contribution fees in order to have access to the created content.
This revenue is generally ideal for content creators who create extremely detailed and important contents that appeal to the audience who have no option than to subscribe.
In other to be qualified for this, YouTube provides two important requirements.
The first requirement is that the content creator must be at least 18 years old and secondly, must have at least 1,000 subscribers who are dedicated to his/her channel.
Merch self is a YouTube advertising type that is more like a personal way of selling products on YouTube platforms.
With this content creators are allowed to display their own official branded merchandise products whenever they visit the channel. Merchandise could be in the form of shirts, hats, branded cups and many others.
The initial requirements for the merch self are quite similar to that of advertising and channel memberships as content creators need to be at least 18 years old before applying.
However, content creators need more than 1,000 subscribers as seen with advertising revenue and channel memberships. The minimum subscription requirement for this revenue type is 10, 000 subscribers.
Super Chat And Super Stickers
Super chat and super stickers is another way that a content creator can make millions on the YouTube platforms.
The basic nature of this revenue source is that fans and subscribers pay for their messages and comments to be highlighted usually in streamed chats.
It must be noted however that this is not a really preferred revenue source, and it is even explained by the fact that it is only available to only a specific group of countries.
YouTube Premium Revenue
With this revenue type of content, creators can earn millions from YouTube whenever their videos are watched by a premium YouTube subscriber.
In other to achieve this, one has to be provided invaluable content that appeals to most premium subscribers on YouTube.
Make Money On YouTube – Popular Strategies
It is quite clear that all of the aforementioned revenue sources depends on the ability of content creators to drive traffic to their channels.
Without enough traffic, it becomes very difficult to earn millions on YouTube. In order to drive traffic to the YouTube channel, a content creator must choose a better thumbnail that will attract viewers.
There must be the inclusion of channel tags and the utilization of playlists as well as a better response rate to comments.
This post has discussed in detail the nature of how one can make money on YouTube. With revenue sources available, it is easier for a content creator to create and earn from the social media platform.