Since it was launched in 2005, YouTube has remained the number one video-sharing platform in the world. Users can choose from more than 170 genres, 64,000 sound effects, and 32,000 tracks to create videos via its audio library. While its visual media supports more than 50 formats and 800 effects. A video marketing agency Hong Kong has listed 10 ways to make money on YouTube. The list aims to educate and entice creators that YouTube is more than just sharing videos. Rather, it is also a platform to earn a living and monetize video content.
A digital marketing speaker Hong Kong notes that YouTube values the skills and talents of its creators. The platform is aware that modern-day creators played multi-facet roles. They are content creators, editors, entrepreneurs, marketers, and storytellers – all in one. That is why in 2007, YouTube launched the YPP business model. It is a YouTube Partner Program designed for revenue sharing on ads. In 2018, YouTube enabled a merchandise shelf where creators can earn paid digital goods. As time goes by, the platform also added creator funding and monetizing features and tools to help creators earn money. Here’s a list!
Every day, people come to YouTube to connect with their favorite channels and creators. Oftentimes, they trust recommendations from them. YouTube’s BrandConnect allows brands and businesses to partner with creators in promoting their products and services. By creating personalized video content about a brand’s offering, creators can turn viewers into customers and earn commissions for every conversion. In addition, brands and businesses can better understand what type of content can work best to boost awareness and conversion via video marketing. This is through the insights provided by YouTube’s BrandConnect.
A great way to make money on YouTube is to create channel memberships. Such a feature offers your biggest fans, supporters, and viewers access to exclusive perks in exchange for a monthly fee. The perks may include behind-the-scenes access, exclusive content for members, and other privileges like badges, one-on-one chats, etc. A YouTube creator should be a member of the YPP and with at least 1,000 subscribers to be eligible for channel memberships.
YouTube offers several bonus programs for creators with outstanding video content. Typically, the bonus will be given based on a video’s engagement and views performances.
- Last February, YouTube launched the Kids Fund. It is a $100 million commitment to create educational and family programs for kids. The funding aims to create videos related to child development, child safety, and digital literacy among kids.
- Last June, YouTube officially opened the Black Voices Fund. It is a program granting black creators free resources and training funded by YouTube. This creator funding focuses on helping black creators create impactful productions about their personal lives.
- The latest round of Creator Funding from YouTube is the Shorts Fund. It will be distributed among Shorts creators with outstanding content every month from 2021 to 2022. Outstanding Shorts equate to huge engagements and views metrics in the platform. The funding is open for all creators who adhere to YouTube’s community guidelines and who published original and unique Shorts content within the last 180 days. Creators can make money from the Shorts Fund from $10,000 to $100,000 monthly.
Another way to make money on YouTube is through the merch shelf. It allows eligible channels to showcase their branded merchandise on YouTube. A creator can choose one of YouTube’s 30 partner merchants to sell their branded merchandise. Merchandise eligibility varies depending on the participating countries, channel subscribers, and channel types.
In 2017, YouTube launched the Super Chat feature. It aims to help creators deepen their relationships with their fans through one-on-one messaging. Through Super Chat, viewers of a live stream can purchase a highlighted message on the chat stream. The highlighted message remained pinned on top for 5 hours. Creators will connect to them in priority, allowing more meaningful conversations during the live streams. In exchange for creators to have doubled their effort in replying to pinned chats while doing a live broadcast, they were able to make money through the viewer’s purchase.
Super Stickers were launched by YouTube in 2019. It is another way to make money on YouTube live streams and premieres through tipping. During a live broadcast, viewers can buy cool stickers to connect with the host. Once a viewer buys a sticker, it will show every time he or she makes a comment to highlight it. Creators and other viewers will see those who buy super stickers on top of the comments tab.
YouTube enabled Super Thanks just last July 2021. It is the latest addition to YouTube’s Supers family and a new way to make money on the platform. Like Super Stickers, fans can show support to YouTube Creators by tipping them under four price points. The cost ranges from $2 to $50 or its equivalent value to a local currency. Instead of fun stickers, the buyer will get an animated and colorful GIF to distinguish their identity in the comments section. It is for creators to reply to their comments in priority.
YouTube artists can also make money through the sales of tickets for their upcoming concerts, events, or shows. Through YouTube’s ticketing feature, fans can learn about the schedules in advance and buy tickets on YouTube’s ticketing partners.
YouTube Premium Content
Like channel memberships, YouTube Premium are exclusive content subscriptions paid monthly. In exchange for a monthly fee, subscribers can enjoy ad-free videos, background playback, downloads, and exclusive access to premium content of the Music app. The majority of the subscription revenues are paid to YouTube creators.
YouTube Video Ad
Advertisers, brands, businesses, and creators can all make money through YouTube video ads. Using product stickers and tags, video ads allow viewers to buy an offering or a product through a direct link to an eCommerce website. A social media agency Hong Kong notes that the biggest revenue on YouTube comes from video ads.