YouTube Monetization is increasingly becoming a popular mode of income in the creator economy.
YouTube monetization rewards your content creation efforts monetarily. While you might not have started your YouTube channel with the motive of earning from it, it is an aspect you should not ignore.
Table of Contents-
- What is YouTube monetization?
- YouTube monetization rules and requirements
- How to avoid copyright and monetization mistakes on YouTube?
- How to monetize YouTube channel in 2023?
- How much can you earn on YouTube?
What is YouTube monetization?
YouTube monetization means earning money from your YouTube videos on your channel.
Sounds remunerative, doesn’t it?
But it comes with a certain set of regulations and stipulations that you will have to follow.
YouTube monetization rules and requirements
For monetizing your YouTube certain regulations and requirements have to be followed.
Firstly, start by applying to the YouTube Partner Program(YPP). The YPP program has the following eligibility requirements that you need to qualify:
Subscribers: Your YouTube channel should have at least 1,000 subscribers.
Watch Hours: The content on your YouTube channel should have accumulated at least 4,000 public watch hours in the previous 12 months.
Geographical Availability: YPP is not available in all countries. Make sure that the YouTube Partner Program is available in your country.
AdSense Account: Your AdSense account should be linked to your YouTube channel.
Community Guidelines Compliance: There should be no ‘community guidelines strikes’ faced by your YouTube channel.
Security: You must have implemented 2-step Verification for the Google Account associated with your YouTube channel.
The application approval process for YPP is a long one and can take around 1 month. At times, it can take even longer.
In case your application is rejected, YouTube will point out the reasons for the same. Rectify those mistakes and re-apply after 30 days.
Once you get the approval for your application, the next step will be to enable monetization. For this go to the YouTube studio and then to the monetization tab and follow the steps given.
How to avoid copyright and monetization mistakes on YouTube?
YouTube has strict copyright and monetization regulations. These need to be followed at all times:
- Upload only the content that you have created or have the authority to use.
- Copyright also applies to music and audio tracks. Consider using royalty free music, like from YouTube’s own audio library.
- If you must use someone else’s work, obtain the necessary licences and permissions.
- Use YouTube’s copyright tools like the Copyright Match Tool and Content ID to check for potential copyright issues before uploading your content.
- Keep yourself updated regarding YouTube’s evolving regulations.
- Follow all YouTube community guidelines.
If you do not follow YouTube’s copyright and monetization guidelines, it can lead to:
- Removal of ads from your videos.
- You can be suspended from the YouTube Partner Program.
- A serious breach or repeated breach of guidelines may even lead to suspension and even termination of your YouTube account.
Whenever you commit any violation, YouTube will inform you through an email. They generally point out the issue as well as any options for resolution of the issue.
How to monetize the YouTube channel in 2023?
Now, let us understand 8 ways to YouTube monetization in 2023:
YouTube ads are the most common way to monetize YouTube channels.
But, to earn revenue by using YouTube ads, you need to join the YouTube Partner Program. Then, you can activate ad monetization for specific videos.
An important caveat to keep in mind is that your content needs to align with YouTube’s advertiser-friendly content criteria.
Memberships are another way to monetize YouTube channels. You can offer monthly subscriptions to your subscribers using memberships.
Why will your members pay to subscribe?
You can motivate your members to subscribe by giving them discounts on your courses and launches, or access to exclusive content, etc.
A minimum of 1,000 subscribers are required to use memberships for YouTube monetization. For memberships, a “join” button will appear alongside the “subscribe” button for your subscribers. Members can sign up simply by clicking on the ‘join’ button.
Brands commonly sponsor content creators or influencers to utilize, demonstrate, and or review their products and services. As remunerative as paid sponsorships are, it is not easy to get started with them.
You need to have a certain degree of influence in your niche to start getting paid sponsorships. After building a certain loyal following and authority in your niche, start reaching out to businesses and brands whose values align with yours. Convince them of your ability to bring value to their brand.
It simply involves directing your audience to another business’s website or sales page using unique links. If they make any purchase through these links, you will get a certain amount of commission.
The best part?
You do not need a minimum of 1,000 subscribers or to join the YouTube Partner Program to start earning through affiliate marketing on YouTube.
Affiliate marketing on YouTube can be done through product review videos, unboxing videos, how-to videos, tutorials, etc.
Have you nurtured a loyal audience through your YouTube channel and are looking to monetize it?
Patronage on YouTube involves using platforms like Patreon to build a community of supporters who make monthly contributions. You can offer exclusive perks, such as behind-the-scenes content and personalized interactions, in return for these monthly contributions.
This strategy provides a stable income source and reduces reliance on ads.
Patronage has no minimum subscriber requirement, making it accessible to creators at various stages of their YouTube journey. It perfectly complements other revenue streams.
Selling merchandise to your audience is another way to monetize YouTube channels. This method is especially suitable for creators with substantial followings. Fans can demonstrate their support by purchasing items like shirts, caps, or notebooks.
This method provides a more stable income compared to AdSense. This is because you will be relying on a dedicated fan base to continuously buy your merchandise. To use the merchandising feature, you need 10,000 subscribers.
YouTube offers a trio of monetization features known as Super Chat, Super Stickers, and Super Thanks:
- Super Chat lets your audience pay from $1 to $500 to have their message highlighted in the chat.
- Super Stickers enable users to purchase and share vibrant stickers that grab the creator’s attention when pinned to the top of the chat.
- Super Thanks lets viewers express appreciation with a small donation, receiving a featured comment and animated GIF. It can be applied to any uploaded video.
YouTube Premium subscribers enjoy an ad-free experience. So, how do content creators who rely on ads earn money?
YouTube shares a portion of the YouTube premium subscription fees with the content creators. This portion is dependent on how many premium members viewed your content.
Crowdfunding is also a very popular way used by YouTubers to generate income. It can involve
- Ongoing revenue through small monthly donations or
- Funding specific channel-related projects.
To use this monetization channel, you will have to create a crowdfunding account using YouTube’s approved platforms. These platforms can be like Patreon for recurring funding or GoFundMe/Kickstarter for one-time campaigns.
Having decided on your campaign, promote it in your videos. For crowdfunding to generate results you should clearly outline your goals and offer perks for different donation levels.
Generally, successful crowdfunding often extends beyond YouTube. It requires a multi-platform approach. Nonetheless, by effectively leveraging crowdfunding, creators can secure the necessary funds to support their channel or specific projects.
How much can you earn on YouTube?
We have talked about various methods of YouTube monetization. But how much can one exactly earn from it?
Well, there is no exact answer to this. According to data from Influencer Marketing Hub, the typical earnings per view for YouTubers average approximately $0.018.
Several factors will determine your earnings from YouTube-
- What method of YouTube monetization you are using
- What is the size of your audience
- What are your viewing hours, etc?
- The quality of your content
- What niche do you cater to
Somebody earning primarily from ads will earn differently from somebody earning primarily from memberships. While some YouTubers earn millions, others don’t make much. You must start with realistic expectations.