YouTube can be a great way to make money if you do it right. How much money YouTubers make? Learn about different ways how to make money on Youtube.
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Did you know that Youtube can be a great way to gain fame and make money? You don’t need to go to Hollywood to become a celebrity and no need to work 24/7 to make a fortune. Of course, you can do that, but nowadays, Youtube makes both of these things extremely achievable for anyone anywhere. Therefore with the right idea and some time investment, you can change your life, earn money, and make your dreams come true.
Making money on Youtube explained
The investment idea is simple. You need minimum equipment. The camera on the phone or laptop will work just fine. Maybe a tripod or a light lamp will come in handy, but totally optional. Equipment investments won’t cost a lot. It is more skills and time investment. Meanwhile, potential income can reach six figures.
The only thing that can make success real or unreachable is how viral and catchy the videos are. Videos and topic covered should be not only extremely useful, but first of all, it should be viral. Think of all dull and boring educating videos. Yes, they are very helpful, but most of the time, they are not catchy. On the other hand, some dump but catchy vlogs that make us emotional can make us spend a lot of time watching them.
For example, I can watch funny animal videos for hours and get bored quickly watching what happened to ancient civilizations. I bet you do too. Moreover, animal videos require far less knowledge, equipment, time, and preparation that science videos where people share research and useful information.
What does viral mean? It means that this particular thing catches our attention, appeals to our emotional side, and pulls some triggers. Think of an ice bucket challenge? It went viral!
For more details about viral ideas read here: Contagious: Why Things Catch On, byJonah Berger.
How Much do Youtubers Make?
You can make zero cents or six figures with Youtube.
According to Forbes, here 2018’s top YouTubers:
Logan Paul – $14.5 million
PewDiePie – $15.5 million
Jacksepticeye – $16 million
VanossGaming – $17 million
Markiplier – $17.5 million
Jeffree Star – $18 million
DanTDM – $18.5 million
Dude Perfect – $20 million
Jake Paul – $21.5 million
Ryan ToysReview – $22 million
Sounds impressive, especially when you check some of these guys and see that do can you the same and make that kind of money.
How to make money on Youtube
Nowadays, almost everything can be monetized if done right. The same goes for Youtube. Of course, you can still download videos for no other reason than sharing the information. But if you have a big audience and a lot of views, why not make extra money?
Here are ways to make money on Youtube:
1. Ad revenue.
Do you remember these annoying ad videos we usually skip? Well, YouTubers get paid for every ad watched through the videos. The more viewers, the more people get to see the ad, the more money and ad revenue the video can generate.
The rates an advertiser pays vary. If you wonder how much YouTube pays on average, here is the answer: according to Forbes, a YouTuber can make about $5 for every 1,000 video views. Sounds like peanuts, but some still make 6 figures from ad revenue.
To start making money with ads on Youtube, you need to be accepted to the YouTube Partner Program.
The minimum requirements are:
- Follow all the YouTube monetization policies.
- Live in a country or region where the YouTube Partner Program is available.
- Have more than 4,000 valid public watch hours in the last 12 months.
- At least 1,000 subscribers.
- Have a linked AdSense account.
Read more here: YouTube Partner Program.
2. Affiliate marketing.
People get paid commissions for purchases of goods and services they recommend and links they share. It doesn’t change the final price for a customer, but the merchandiser pays from his own pocket reference fee to an affiliate.
For example, I am an affiliate with Amazon. It means that I may receive a small commission (at no cost to you) if you subscribe or purchase something through the links located throughout the content on this website.
For more details, go to the Disclaimer Policy page.
3. Sponsorships.
It is very similar to ad revenue, but much bigger. But it is more direct in terms of what to recommend, and it is more efficient in terms of how much you can make. People get paid to advertise some services or brands for money. This should be no news for you, right. It is a decent and very good source of making money on Youtube. From a consumer point of perspective, make sure that you take advice from a person who you trust or whose opinion you value. From a make-money perspective, make sure to get some respect from the audience and choice wisely what brands to work with. Otherwise, you may lose reputation and audience.
4. Donations.
Some people ask to leave tips if the video they’ve shared has been of any value to you. You may be surprised how much Youtubers make with donations. A lot of people leave tips and donate some money so that the bloggers or vloggers (this is how people who make videos of their life called, kind of blogging, but with videos: vlogging). It mainly works great if you have a real cause that will appeal to people and ring emotional triggers. Just make sure to be honest. Otherwise, you may lose your reputation.
5. Merchandize.
Occasionally a well-known or a totally new brand will ask you to do a review of a product and actually send you a product for free. It just means that you need to share your experience, however good or bad it is. And you get to leave the merchandise for personal use after that.
Final thoughts
Youtube is not a get-rich-fast track. Honestly, so far, I know none of the things that can get you rich fast. You need to invest some time, do research, understand what your goals are, what skills you have and how to use them, and put a decent amount of hours of work before actual money will come. With all of this being said, and keeping in mind potential income, let’s say that Youtube is a real way of making 6 figures. But it’s a sane idea to start making money on Youtube as a side hustle and give it a try before committing your full time to vlogging.