What Is It?
By creating original, entertaining videos and uploading them to YouTube, you have the chance to get in front of the largest audience in the world. With enough views and subscribers you can make some serious money through advertisements and product marketing.
How Does It Work?
In the world of online videos, YouTube by far dominates the market with roughly 1.3 billion people watching videos on it. That is a large potential market of people who could be watching your videos. Before you can make money off that large audience you need videos that people want to watch.
Anyone can upload videos on YouTube. First you login to YouTube using your Google account and create a channel. Your channel is your collection of videos that you want people to subscribe to. Then you upload videos to your collection. Once it gets popular enough and you meet YouTube‘s requirements (more below), then you can signup for the YouTube Partner Program. As a member you automatically start showing advertisements in all your videos. If people watch half of the advertisement (or 30+ seconds for long advertisements) or they click the ad then you make money. The more regular viewers you have and the more engaged they are then the more money you can potentially make. Also, the more targeted your videos are to audiences and popular products then the more advertisers will pay.
The requirements to become part of the YouTube Partner Program is as follows:
- 4,000 hours watched in last 12 months
- 1,000+ subscribers
- No inappropriate content
- Original content and you own the rights to content
As you keep on getting more and more popular (10,000+ subscribers) then it opens up other revenue streams such:
- Using affiliate marketing. This is where you advertise a product in a video or the video description using and getting paid if people purchase the product.
- Leveraging FameBit or GrapeVineLogic to do get paid for creating videos promoting a product.
- Having people subscribe using Patreon and pay a monthly fee to receive special access to videos you make only for them.
To obtain that many subscribers a smartphone camera won’t be enough. While pixel quality in them have increased in the last few years, when posted to YouTube often the quality has a lot to be desired. Many successful YouTubers use cameras like the Canon Rebel T6 (US/Canada) or the Canon PowerShot G7 (US/Canada).
As per what software to use when creating videos, there are good ones that you can pay for or are free. Here is a great article by EditingInsider that goes through the pros and cons of each.
How Much Money Can You Make?
It will take a couple months to get your first 1,000 subscribers and even if you do (and most channels don’t), you would make only about $20-$30/month. This is the big hurdle though and if you are active and continue to post often the it typically goes up much faster then.
After a few more months once you have over 10,000 subscribers and multiple revenue streams you could be making $500-$1,000+/month. The really successful people with multiple revenue streams and hundreds of thousands of followers, can make $100,000+/year.
The absolute top tier channels make $1,000,000+/year. The highest earner in 2018 was a 7 year old kid playing with toys (Ryan’s Play Review) and he made $22,000,000
- Establish a clear distinct niche for your channel that you are excited and/or and expert on. This will help focus your videos and establish credibility with your viewers.
- At the same time sure there is enough of a market that there would be enough interest in it. For example, having a channel focused on seniors playing Pokemon probably wouldn’t bring in much money.
- If you are serious about growing your channel, upload new videos regularly, at least multiple times per week. That will attract new subscribers and keep your existing ones coming back for more.
For More Information Check Out These Related Books
- YouTube Secrets: The Ultimate Guide to Growing Your Following and Making Money as a Video Influencer – US/Canada
Categories: Decent Income