How To Start Making Money On Youtube in 2024!
Starting a YouTube channel is an incredible way to share your passion, creativity, or knowledge with the world. For content creators, youtube just not only a platform but also offers various ways to monetize their channels and make money.
If you’re wondering how to start making money on YouTube in 2024, this article will guide you to explore different strategies and opportunities available to content creators.
Can You Make Money on YouTube?
You may wonder if it’s truly possible to make money on YouTube.
The answer is yes!
YouTube offers several monetization options that allow creators to earn revenue from their channels. Let’s drive some of these methods and how you can get started.
How to Start Making Money on YouTube in 2024
Join YouTube Partner Program
This program offers creators to earn money through advertising revenue, channel memberships, and other features.
To be eligible, you need to meet certain criteria, such as having at least 1,000 subscribers and 4,000 watch hours in the past 12 months.
To join the program, follow these steps:
- Go to the YouTube Studio dashboard.
- Click on “Monetization” in the left sidebar.
- Read and accept the terms.
- Set up an AdSense account to receive payments
Use Affiliate Links in Your Videos
Another way to make money on YouTube is to use Affiliate links.
Affiliate marketing entails the promotion of products or services, allowing you to earn a commission for each sale or lead that is generated through your referral. You can find affiliate programs in various industries and promote products relevant to your channel’s niche.
To start using affiliate links, follow these steps:
- Sign up for affiliate programs that are relevant to your niche.
- Generate unique affiliate links for the products or services you want to promote.
- Include these links in your video descriptions or mention them in your videos.
Create Sponsored Content
Sponsored content involves collaborating with brands or companies to create videos promoting their products or services.
Brands often seek out YouTube creators who have a significant following and align with their target audience. When creating sponsored content, it’s important to disclose the sponsorship to maintain transparency with your viewers.
To get started with sponsored content:
- Build a strong and engaged audience on your channel.
- Reach out to relevant brands or wait for brands to approach you.
- Negotiate terms to write a complete sentence. Negotiate terms, including compensation and deliverables.
- Create engaging and authentic sponsored videos that align with your channel’s content and audience.
Use Patreon and Other Third-Party Subscription Services
Platforms like Patreon enables content creators to offer exclusive content and benefits to their most dedicated fans in exchange for monthly subscriptions.
You can provide additional value to your audience while establishing a reliable source of income by setting up a Patreon page.
To utilize Patreon and similar subscription services:
- Sign up for a Patreon account and create a compelling page.
- Determine the subscription tiers and benefits you want to offer.
- Promote your Patreon page in your videos and across your social media channels.
Accept Channel Memberships
YouTube offers a feature called “channel memberships” that allows your viewers to become paying members of your channel. This feature can be a great way to foster a sense of community and generate recurring revenue.
To enable channel memberships:
- Meet the eligibility requirements (typically 30,000 subscribers).
- Go to the YouTube Studio dashboard and navigate to the Memberships tab.
- Set up different membership levels and perks for your subscribers.
Create Branded Merch
If you have a dedicated fanbase, creating branded merchandise can be a lucrative revenue stream. You can design and sell t-shirts, hoodies, mugs, stickers, and other merchandise featuring your channel’s logo or catchphrases. With platforms like Teespring and Merch by Amazon, you can easily create and sell custom merchandise.
To get started with branded merch:
- Design your merchandise using graphics software or hire a designer.
- Choose a platform for selling your merchandise (e.g., Teespring, Merch by Amazon).
- Set up your online store and create product listings.
- Promote your merchandise in your videos and on social media.
Host Live Streams on YouTube
YouTube also offers the option to host live streams directly on your channel. Live streams can be a valuable way to interact with your audience, answer questions, and provide exclusive content.
During live streams, you can also receive Super Chat and Super Sticker payments from viewers, further boosting your income.
To host live streams on YouTube:
- Go to the YouTube Studio dashboard and select the “Live” tab.
- Set up your live stream settings, including the title, description, and privacy options.
- Test your equipment and internet connection.
- Promote your upcoming live stream to your subscribers.
Launch a Crowdfunding Campaign
If you have an idea for a project that requires financial support, crowdfunding can be an effective way to gather funding from your audience. With the platforms like Kickstarter and Indiegogo, you can easily create campaigns for people to contribute for rewards or early access to your content.
To launch a successful crowdfunding campaign:
- Identify the specific project or goal you want to crowdfund.
- Choose a suitable crowdfunding platform.
- Create an engaging campaign page with compelling visuals and a clear message.
- Offer enticing rewards to incentivize contributions.
- Promote your campaign extensively through your YouTube channel and social media.
Accept Donations and Tips
If your viewers are enthusiastic about your content and want to support you financially, they can do so through donations and tips.
To accept donations and tips:
- Set up an account on a donation platform like PayPal or Ko-fi.
- Display the donation link or button in your video descriptions or on your channel page.
- Express gratitude to your viewers for their support and encourage donations in your videos.
License Your Content to Third Parties
If your videos have gained popularity and attracted attention from media outlets or other creators, you can explore the option of licensing your content.
Licensing involves allowing others to use your videos in exchange for a licensing fee. This can be a passive income stream, especially if your content has viral potential or fits specific niches.
To license your content:
- Create a portfolio of your best videos and compile relevant information about their performance.
- Research and reach out to potential licensing partners, such as media agencies or content creators.
- Negotiate licensing terms, including fees, usage rights, and attribution requirements.
Become YouTube Influencers
As a YouTube creator, you can also become an influencer by partnering with brands and promoting their products or services.
Influencer marketing has become a popular advertising strategy, with brands recognizing the power of YouTube creators to reach their target audiences authentically.
To become a YouTube influencer:
- Build a strong personal brand and establish yourself as an authority in your niche.
- Create high-quality and engaging content that deeply connects with your audience.
- Reach out to brands that align with your channel and propose collaboration ideas.
- Negotiate partnerships, including compensation and promotional requirements.
YouTube Shorts Fund
YouTube Shorts is a feature that allows you to create and share short vertical videos. As an incentive to create Shorts content, YouTube has introduced the Shorts Fund, which rewards creators whose Shorts receive high engagement.
By consistently creating compelling Shorts, you can potentially earn additional income from the Shorts Fund.
To participate in the YouTube Shorts Fund:
- Create and upload Shorts videos to your YouTube channel.
- Focus on creating engaging and shareable content that resonates with the Shorts format.
- Encourage viewers to engage with your Shorts by liking, commenting, and subscribing.
YouTube Premium Revenue
YouTube Premium is a subscription service that offers an ad-free viewing experience to subscribers.
As a YouTube creator, you can earn a share of the revenue generated from YouTube Premium subscriptions based on how much time Premium subscribers spend watching your content. This provides an additional income stream on top of traditional advertising revenue.
To earn YouTube Premium revenue:
- Continue creating high-quality content that attracts and retains viewers.
- Encourage your audience to consider subscribing to YouTube Premium.
- Focus on creating engaging and binge-worthy content that keeps viewers coming back.
If you have valuable knowledge or expertise in a particular field, you can create and sell online courses to your YouTube audience.
Online courses are highly sought after, and people are willing to pay for in-depth education and training. By leveraging your YouTube channel, you can promote and sell your courses to a targeted audience.
To sell online courses:
- Identify a topic or subject in which you have expertise.
- Plan the structure and content of your course, ensuring it provides value and actionable insights.
- Choose a platform or learning management system to host and deliver your course (e.g., Teachable, Udemy).
- Create engaging video lessons, supplementary materials, and assessments for your course.
- Market and promote your course through your YouTube channel, social media, and email list.
In addition to branded merchandise, you can expand your product offerings by selling other physical products related to your YouTube channel. This could include items such as books, accessories, or specialty products that align with your content or niche.
Selling merchandise can be a great way to connect with your audience and generate additional income.
To sell merchandise:
- Brainstorm and design unique products that resonate with your audience.
- Research manufacturers or suppliers that can produce and fulfill your merchandise.
- Set up an online store or integrate with e-commerce platforms like Shopify or WooCommerce.
- Create appealing product listings with high-quality images and detailed descriptions.
- Promote your merchandise in your videos, social media posts, and website.
Driving Traffic to Your Blog Using YouTube Videos
If you have a blog or website where you monetize through advertisements, affiliate marketing, or other means, YouTube can be a powerful tool for driving traffic to your website.
By creating engaging videos that provide valuable information and linking to relevant blog posts in your video descriptions, you can attract viewers to visit your website and potentially generate income.
To drive traffic to your blog:
- Identify blog posts or articles that align with your YouTube content and provide additional value.
- Create informative and engaging videos that discuss the topics covered in your blog posts.
- Include links to your blog posts in your video descriptions and encourage viewers to visit your website for more information.
- Optimize your blog posts for search engines to increase organic traffic.
Super Chat and Super Stickers
Super Chat and Super Stickers are features on YouTube that allow your viewers to purchase and send highlighted messages or animated stickers during your live streams or premiere events.
This feature enables your audience to support you financially while engaging with your content in a unique and interactive way.
To enable Super Chat and Super Stickers:
- Ensure your YouTube channel is eligible for monetization.
- Go to the YouTube Studio dashboard and navigate to the Monetization tab.
- Enable the Super Chat and Super Stickers features.
- During live streams or premiere events, remind your viewers about Super Chat and Super Stickers and acknowledge those who participate.
How Do You Get Paid by YouTube?
When it comes to getting paid by YouTube, you need to set up your payment preferences in the YouTube Studio. YouTube offers various payment methods, including direct deposit, wire transfer, or payment through AdSense.
Once your earnings reach the payment threshold, which is typically $100, YouTube will initiate the payment process. It’s important to review and comply with YouTube’s policies and guidelines to ensure smooth and timely payments.
What Influences How Much Money You Can Make on YouTube from Ads?
Several factors influence the amount of money you can make on YouTube from ads:
Number of Views
The number of views your videos receive plays a significant role in your ad revenue. The more views your videos accumulate, the more potential ad impressions and clicks you can generate.
Creating high-quality content that resonates with your audience and implementing effective SEO strategies can help increase your video views and ad revenue.
The type of content you create can also impact your ad revenue. Certain topics or niches may attract more advertisers, resulting in higher-paying ads.
Additionally, longer videos provide more ad placement opportunities, potentially increasing your earnings.
However, it’s important to prioritize your content that aligns with the audience’s interests which maintains the quality and authenticity of your channel.
Rule Breaking Behavior
Adherence to YouTube’s policies is essential for maintaining monetization eligibility.
Engaging in any form of rule-breaking behavior, such as copyright infringement, clickbait tactics, or inappropriate content, can lead to demonetization or the removal of ads from your videos. It’s crucial to familiarize yourself with YouTube’s guidelines and ensure compliance to safeguard your ad revenue potential.
How Much Money Can You Earn on YouTube?
Your earning on Youtube is actually influenced by several factors, such as your channel’s size, engagement, and monetization strategies. It’s crucial to to set realistic expectations and acknowledge that building a successful and profitable YouTube channel takes time and effort.
The primary metric used to measure YouTube ad revenue is RPM (Revenue Per Mille) or CPM (Cost Per Mille).
RPM represents the estimated revenue you can earn per thousand views on your videos. CPM refers to the cost an advertiser is willing to pay per thousand ad impressions.
The amount of money you can earn per view on youtube depends on various factors, such as the type of ad, the advertiser’s bidding strategy, and the demographics of your audience.
As it varies greatly from channel to channel. it’s difficult to provide an exact figure for potential earnings.
It’s essential to focus on building a loyal and engaged audience, consistently creating high-quality content, and exploring additional monetization strategies to maximize your overall income from YouTube.
Starting to make money on YouTube in 2024 requires dedication, creativity, and a solid understanding of the available monetization options. By utilizing the outlined strategies and keeping up with the evolving landscape of YouTube, you can turn your passion into a profitable venture.