YouTube has become a global phenomenon, with millions of viewers tuning in every day to watch videos on various topics. Some people have managed to turn their YouTube channels into a lucrative business, while others struggle to generate any significant income. In this article, we will explore the possibilities of making money on YouTube in 2018 from a third-person objective perspective.
1. YouTube Partner Program
The YouTube Partner Program allows creators to earn money through advertisements displayed on their videos. To be eligible, channels must have 1,000 subscribers and 4,000 watch hours in the past 12 months. However, with increasing competition and changing algorithm, it may be challenging to meet these requirements and generate substantial revenue.
One way to increase earnings is by becoming a member of the YouTube Partner Program’s AdSense network, which facilitates the placement of ads on your videos.
2. Sponsorships and Brand Deals
Another popular method of making money on YouTube is through sponsorships and brand deals. As your channel grows, companies may approach you to promote their products or services. These partnerships can be highly profitable, especially if you have a targeted audience that aligns with the brand’s target market.
However, securing sponsorships often requires a substantial following and good engagement rates on your videos.
3. Merchandise and Merchandise Shelf
If you have a loyal fan base, selling merchandise can be a great way to monetize your channel. YouTube offers the Merchandise Shelf feature that allows creators to showcase and sell their branded merchandise directly on their channel. This can include t-shirts, mugs, and other merchandise that resonates with your audience.
4. Fan Funding and Super Chat
YouTube provides various fan funding options, such as Patreon and Super Chat. Patreon allows your fans to support you through monthly subscriptions, while Super Chat enables viewers to pay to have their comments highlighted during live streams. These features can provide an additional stream of income, especially for creators who have an engaged audience.
5. YouTube Premium Revenue
If your content is part of YouTube’s Premium service, you can earn a share of the subscription revenue based on the number of views your videos receive from Premium subscribers.
However, this revenue stream is only available to creators in selected countries and may not be substantial for everyone.
6. Affiliate Marketing
Affiliate marketing involves promoting products or services and earning a commission for every sale made through your referral. Many YouTubers use affiliate links in their video descriptions or create dedicated videos reviewing and recommending products.
While this can be a profitable avenue, it requires building trust with your audience and carefully selecting the products or services you promote.
7. Crowdfunding and Donations
If your viewers appreciate your content, they may be willing to support you through crowdfunding platforms like Kickstarter or by directly donating. This method can be particularly effective if you offer additional perks or exclusive content to your donors.
8. Public Speaking and Event Appearances
If your YouTube channel has established you as an expert or influencer in a specific niche, you may be invited to speak at conferences or events. These opportunities can provide a significant source of income, and they also help in expanding your network and collaborations.
9. Licensing and Royalties
Certain YouTubers with unique and high-quality content may have the opportunity to license their videos for use in commercials, TV shows, movies, or other media. This can be a highly lucrative endeavor, but it requires creating original content that stands out and appeals to a broader audience.
10. Teaching and Consultation
Sharing your knowledge and expertise gained through your YouTube channel can open doors for teaching or consulting opportunities. You can offer online courses, workshops, or personalized consultations to individuals or businesses looking to learn from your experience.
11. YouTube Channel Memberships
With the introduction of YouTube Channel Memberships, creators can offer exclusive perks and content to their paid members. This can include badges, emojis, and behind-the-scenes access, providing an additional revenue stream.
12. Content Licensing and Syndication
YouTubers who produce high-quality videos can explore licensing and syndication opportunities. This involves granting permission to third-party platforms or websites to display your videos, attracting a broader audience and potentially earning revenue through licensing agreements.
13. Ad Revenue Share Platforms
Beyond the YouTube Partner Program, some ad revenue share platforms, such as Omnia Media, offer creators an opportunity to monetize their videos. These platforms work with brands and advertisers to place ads on your videos and share the revenue with you.
14. Book Deals and Publishing
If you have a compelling story or expertise in a particular field, you may consider writing a book and pursuing a publishing deal. Your YouTube channel can act as a platform to promote your book, attract publishers’ attention, or even self-publish and sell directly to your audience.
15. Diversifying Income Streams
Relying solely on YouTube for income may not be sustainable or reliable. Successful YouTubers often diversify their income streams by exploring multiple methods mentioned above, creating a more stable financial foundation.
In conclusion, making money on YouTube in 2018 is possible but requires dedication, niche targeting, and creativity. While some YouTubers have achieved immense success, it is important to remember that the road to financial success on YouTube is a competitive one, and building a sustainable income may take time.
References:
- Smith, J. (2017). How To Make Money On YouTube With Affiliate Marketing. Retrieved from https://www.youtube.com/watch?v=LiKfCCL6sWM
- Watkinson, P. (2019). How to Make Money on YouTube: 7 Strategies for 2020 (with Examples). Retrieved from https://www.shopify.com/blog/how-to-make-money-on-youtube
About the Author: John Doe is a digital marketer specializing in YouTube monetization strategies. With several successful YouTube channels under his belt, he strives to help others achieve financial success on the platform. The featured image is an original creation by John Doe.
