How Youtube Can Add Dollars to Your Bank Account

It used to be that making money on YouTube was as simple as uploading fantastic material, getting millions of views, and receiving a cut of the advertising revenue. Content makers now have a variety of options for monetizing their work. This can include corporate sponsorships from a large brand, fan fundraising, or item sales, in addition to advertising.

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TAKEAWAYS

After gaining 1,000 subscribers and 4,000 hours of viewing time, content providers can join the YouTube Partner program.

This grants producers access to revenue-generating services such as advertising, crowdsourcing, and item sales.

The top YouTube performers earn around $20 million every year. Most, on the other hand, make much less or even nothing.

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Joining the YouTube Partner program is the first step toward making money on YouTube. Content providers benefit from the partnership since they have access to unique resources, such as the option to monetize their films through Google Adsense. Content creators must have at least 1,000 subscribers and 4,000 hours of viewing time in the last 12-month period to qualify. 

Pre-roll, display, and other ad formats are used by YouTube to monetize videos. Advertisers are compensated based on the number of clicks and impressions received. YouTube keeps 45 percent of the money and distributes 55 percent to the content producer. Advertising guidelines must be followed by content authors. Ads will not be put against content that involves foul language, adult content, violence, or other topics. This could involve a discussion on current events that are considered sensitive.

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Sponsorship of a Brand

Brand sponsorship, often known as "influencer marketing" in the digital marketing field, is a lucrative form of advertising. A firm will pay a content creator to use a video to advertise a brand or product. Michelle Phan, for example, grabbed the attention of cosmetics giant Lancôme early in her YouTube career with her popular make-up videos. 

More than 700 agencies matched companies with social media influencers on platforms like YouTube, Facebook, Instagram, Snapchat, and Twitter as of 2019. 4 Famebit, a YouTube-related company, was purchased by Google and relaunched as YouTube BrandConnect.

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Crowdfunding

Channel memberships are another common approach to monetize a channel. Fans and followers pay a monthly subscription fee in exchange for supplementary content including badges, emoticons, exclusive videos, live chats, and other items. This monetization function is available to YouTube partners who have reached 1,000 subscribers. Video artists can also use third-party platforms like Patreon to monetize their fan base through monthly memberships. From audience support, top video creators can earn up to $40,000 every month. 

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Sales of Merchandise

By enabling this option in their accounts, YouTube partners can sell up to 12 items of stuff to their audience. Jeffree Starr has made a fortune off of his fans' purchases of lipstick, highlighters, and eye shadow palettes. 

YouTube Best Practices

To increase their chance of attracting a large follower base, creators should follow established YouTube best practices. One of the most fundamental best practices is to create rich, engaging content. Viewers come to YouTube looking to either be entertained or for a solution to a problem they face. By creating great content, it's more likely the video gets viewed and shared.

The more engagement a video receives, the more valuable it is to YouTube, increasing the chances it will rank higher within the search results.

Optimizing videos for YouTube search is another approach for content providers to boost viewership. This involves using the Google keyword planner to uncover terms that a lot of people are searching for and including those keywords in the YouTube video page's description and tags. Another common technique to get additional attention to the YouTube video is to promote it on social media and through paid media advertising.

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Obstacles to Making Money

YouTube video creators face some revenue generation issues even when all of these best practices are followed. As of the first quarter of 2020, advertisers were charged a median cost per thousand (CPM) ad rate of just $3.53. 7 Because creators are only compensated for monetized views rather than total views, their effective CPM can be significantly lower. 

Conclusion

Despite these obstacles, those who are able to build a huge and dedicated following on YouTube can earn a lot of money. According to Forbes, the highest-paid YouTube video creators earn about $20 million per year, so it's easy to see why so many people are drawn to this seemingly limitless source of revenue.

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