If you told someone 20 years ago that you could make a living making videos online they’d probably look at you like you were crazy. But today it is a reality. Several thousands of people make money from creating YouTube videos.
In some cases people can earn a lot of money from the platform. You can do YouTube videos as just a side hustle but if they are going to be worth it, then they need to bring in some income.
So we want to take a close look at some of the ways that you can make money on YouTube and how much you can make on the platform.
How Much Can You Earn on YouTube?
It is hard to say an exact amount that you can make from YouTube. Several sources say that their average pay is between $0.01-$0.03 per ad view. That comes out to about $3-$5 per 1,000 video view. YouTube will pay more for videos depending on several factor, including but not limited to:
- Total number of views
- Ad quality
- Video length
- Number of ad conversions
- Channel size
Experts estimate that top YouTube content can earn approximately $5 per every 1,000 views. Considering that top channels get 10s of millions of views, that can add up to a lot. The highest paid YouTubers easily clear 10s of millions of dollars per year.
The vast majority of people do not make that much though. It is hard to get exact numbers as most video creators do not just rely on YouTube for money, but some estimate that the average channel with 1 million followers makes roughly $60,000 per year, though there likely is heavy variance in that statistic. Other sources say that 100,000 video views amounts to approximately $500-$2,500, depending on the channel. Most YouTubers don’t make their salaries public so there is relatively little info about what the “average” YouTuber makes.
Suffice to say, if you manage to get a channel with a few 10 thousand subscribers, you can make a decent chunk of change on your channel. We will also talk about other ways to monetize your YouTube channel.
How To Get Started Earning Money on YouTube
There are several ways to monetize a YouTube channel. Here are a few of the more common methods.
As are probably the most common way to make money on YouTube. It is also very easy to enable ads on your videos so you can get paid for every view. From your channel page, go to the Studio app and click on your Videos. Hit the edit icon then the monetization tab. From there, you can configure settings about ad placement on yoru channel. YouTube has a Content ID matching system that will automatically match the theme of your channel to ads appropriate for your audience.
Then, whenever someone watches an ad on your video, you get paid a small amount. Keep in mind that you need to set up an AdSense account if you want to put advertising on your YouTube channel. You will also need a PayPal or bank account number to have your account verified so you can get paid.
Several YouTube channels make money through affiliate marketing lins. With affiliate marketing, YouTube creators will mention a product or service in theri video and put a link in the description at the bottom. Every time someone clicks on the link and buys something, then the creator gets paid. Affiliate links are the second most popular method of monetizing a YouTube channel and the top affiliate marketers can make a lot of money on the side.
A sponsorship is another popular method of monetizing a YouTube channel. When you have a channel with a sizable following, then companies will want you to feature their products or services on your channel for a small payment. You are basically being paid for ad space in a little more involved way. Most of the time with a sponsorship, you need to mention the product or service somewhere in your video.
The exact pay sponsors will pay YouTubers varies heavily based on the channel, subscriber count, viewership numbers, and more. Most of the time, sponsors get a flat fee then additional payments based on ROI. According to sources, some sponsorships can pay between $800-$1.000 for a single video.
You can also make money through merchandising and selling products. For example, most popular gaming YouTubers and life vloggers have a merch store set up to sell products. The point of making a YouTube channel is to turn it into a brand that you can market to followers. Different types of merchandize you can sell include hurts, hats, bags, and accessories. If you have a strong following then you can sell merch, but the idea cna backfire if you do not have enough people. You need to consider how popular you are with your audience and whether they are the kind of audience that would buy merchandise from a YouTuber.
Several YouTubers earn money through donations from their audience. Platforms like Patreon exist so that YouTubers can receive funding from their audiences. With Patreon, subscribers pay a set monthly amount and in exchange get exclusive access to special content from the creator. For example, video creators can offer early access to videos or exclusive members content. Some of the most successful YouTube channels make money solely through viewer donations. This is a good option if you have a dedicated following and post regular content for your audience.
How To Get Started Making Money On YouTube
If you want to make money from YouTube, then you need to first create a YouTube channel. That means that you will have to build a unique channel with its own identity that can stand out compared to the others. Before you make your channel, think long and hard about what kind of channel you want to make and what kind of audience that you want to attract.
Having a clear message and branding helps you stand out among the crowd. For example, if you want gaming to be your focus, make sure you have a strong focus on games and that this is clear to anyone who watches your channel.
While making videos, the most important metrics to hit include video views and subscriber count. Those two factors affect how much money you ultimately can earn, although other factors are taken into consideration as well. The first major milestone you should hit is 1,000 subscribers on your channel and then work from there.
You need to be prepared to put in some serious work if you want to make an actual income using YouTube. Starting a successful channel is difficult but once you build up a following, your earnings will increase exponentially.
Should You Give Youtube a Try?
Earning money on YouTube is a fun side hustle that has the potential to turn into a full-fledged gig. If you are making YouTube videos then there are several ways that you can monetize your account, including but not limited to ads, affiliate links, sponsorships, merchandise, and viewer donations. The only limit to how to monetize your YouTube channel is your creativity.
So, if you are interested in starting an online community, then starting a YouTube channel might be a good idea. The best part is that YouTube is free to use and anyone can make an account. Your YouTube channel can also be a good marketing platform to funnel people into other aspects of your business. YouTube is not the most reliable method to make money online, but it definitely can be one of the most fun.