How to Make Money on YouTube in 2024?

Every day, people are spending approximately 1 billion hours watching on YouTube. YouTube has become everyone’s number one resort to entertain themselves. Ever since it was launched in 2005, YouTube has continued to grow and has become the biggest video-sharing platform. Well, is it only for video sharing? We don’t think so. 

In today’s social media-driven world, YouTube has evolved into more than just a platform for entertainment and sharing videos—it’s also become a profitable realm for earning income. With millions of users worldwide and numerous opportunities for monetization, making money from YouTube is within reach for anyone with dedication and creativity.

In today’s comprehensive guide, we will discuss how to make money on YouTube if you are part of the creator community on YouTube. We will delve into the details and keys of monetization on YouTube, by giving little tips about it. So, without further ado, let’s delve into the immerse world of YouTube to get money!

Can You Make Money on YouTube?

First things first, let’s answer the question: Can you make money on YouTube? The short answer is yes, you can definitely make money on YouTube. However, it’s important to understand that success on the platform doesn’t happen overnight. Building a sustainable income requires time, effort, and a strategic approach to content creation and audience engagement.

To be able to make money on YouTube, you don’t need to have millions of subscribers or millions of watch numbers. There are lots of examples that can earn money on YouTube even though they have thousands of subscribers. However, what they have is more precious: persistence. Persistency is the number one key to making money on YouTube. Hence, we recommend do not focus on the number of subscribers you have but follow the 9 ways to make money on YouTube we share! 

9 Ways to Make Money on YouTube

If you are looking for ways to make money on YouTube, you are in the correct place. If you have spent some time on YouTube as a creator, you might be thinking about when you will start to earn money on YouTube. If you have some doubts about how to get money on YouTube, follow our 9 ways to make money on YouTube below!

Join the YouTube Partner Program

If you are interested in making money on YouTube, you have probably heard about the YouTube Partner Program. This program allows creators to display ads on their videos and earn a share of the revenue. Through this way, creators can earn money based on the number of ads they have. However, not everyone is eligible to benefit from the YouTube Partner Program. Here are some conditions to be able to join the program: 

1. To have 4,000+ views on your videos or 10 million Shorts views within the past 12 months. 
2. To have 1,000+ organic subscribers.
3. Comply with YouTube monetization policies.
4. live in a country where the YouTube Partner Program is offered.
5. Your channel should not have a Community Guidelines warning.
6. Enable 2-Step Verification on your Google Account linked to YouTube.
7. Access to advanced features on YouTube.
8. Have an AdSense account associated with your channel or create one in YouTube Studio.

If you meet these conditions, you can start to make money on YouTube. However, YouTube does not confirm the exact amount of money you will get from the number of views. Well, there is a norm everyone talks about which is 1,000 views equal 1 dollar. Nonetheless, things have changed. YouTube takes things seriously and implements serious rules and guidelines depending on the type of channel, for example, advertising on YouTube Kids. If you are wondering about how to join the program, here are the steps: 

1. Navigate to the YouTube homepage’s upper right corner. 
2. Select Creator Studio by clicking the symbol for your account.
3. Click Channel on the left-hand side. 
4. Next, choose Features and Status.
5. Click Enable next to the “Monetization” option.
6. Accept the terms of the YouTube Partner Program.

Work with Brands as an Influencer

Working as an Influencer is one of the most lucrative ways in today’s social media world. That means you can also become an Influencer to make money on YouTube. You can make deal with some brands and mention their products in your videos as an Influencer.

If you are thinking about whether your deal is profitable or not, YouTube marketing experts and influencers recommend approximate numbers.  You can multiply the number of views your videos generally receive by $0.05 to $0.15 per view) to determine your baseline flat cost. This equation will show you what many brands are prepared to pay for views via YouTube advertisements.

Research indicates that influencers can get approximate numbers below when it comes to brand deals to make money on YouTube:

• For a YouTuber with 1,000 subscribers, $20 per video
• For a YouTuber with 10,000 subscribers, $200 per video
• A YouTuber with 100,000 subscribers may earn $2,000 for each video.
• A YouTuber with one million subscribers would get $20,000 for each video.

You might be able to negotiate a higher cost if the brand is a good fit, depending on your target audience and how distinct and lucrative your niche is.

Become an Affiliate Marketer

If you have trust in your audience and you know their interests, becoming an affiliate marketer can be your way to make money on YouTube. Affiliate marketing involves promoting products or services in your videos and earning a commission for every sale or referral generated through your unique affiliate links. You should choose products relevant to your niche and audience to maximize your earnings.

Affiliate marketing is a low-risk way of getting money because it is based on the number of purchases made by your viewers. You will get paid when and if your viewers buy their product with the special code they create for you, or the affiliate link you shared. Hence, the only thing you need to do is encourage them to use your link and find interesting products that your audience can buy. 

Put Promotional Links in Your Video Descriptions

YouTube gives you 5,000 characters to create video descriptions. However, how to benefit from those characters is totally up to you. Of course, you should put your own description and links. Nevertheless, you can use this box of description to make money on YouTube. You can utilize your video descriptions to include links to products, services, or affiliate offers mentioned in your content. Nonetheless, you should be transparent with your audience about any affiliate or sponsored links.

Feature Sponsors in Your Videos

Sponsored videos are one of the biggest ways to earn money on YouTube. You have probably encountered those videos, in which they start as this video is sponsored by X brand. Are those deals hard to find? Well, actually no.

If you are a micro-channel, at first, you might need to contact the brands to get sponsorships. However, it does not mean that you always need to follow those brands to get deals. Sponsorships arise naturally in the digital marketing realm. If you have become more and more popular in time, brands will contact to you, and you will get deals. 

Similar to brand partnerships, you can feature sponsors in your videos by showcasing their products or services and integrating them seamlessly into your content. This can include sponsored shoutouts, product reviews, or demonstrations. 

If you want to get lucrative deals with brands, you should always reach them carefully. You should definitely give a brief about your channel and the conditions you can work under. If you give them a detailed description of the deal you can get, the brands can like your readiness and work ethic. Hence, it is always important to be persistent about contacting them and trying to get deals to make money on YouTube.

Sell Merchandise and Custom Products

Selling your own branded goods is still an option if you’re not a YouTube Partner. Creating merchandise is a fantastic method to make money on YouTube, foster community growth, and establish a connection with your viewership. 

You can design and sell branded merchandise like t-shirts, mugs, or other products related to your channel’s theme or personality. You should utilize YouTube’s Merch Shelf feature to showcase your products directly on your channel. However, it is important to note that you won’t be allowed to have a “merch shelf” on your channel if you’re not a member of the YPP. This implies that in order for your audience to buy merchandise, you must build your website or online store. 

Don’t forget to openly advertise your merchandise on your videos and other social media channels. Your video descriptions and captions should contain a link to your website.

License Your Content to the Media

If you produce high-quality and engaging content, you may have the opportunity to license your videos to media outlets, production companies, or other content creators. This can provide an additional stream of revenue while increasing the reach of your content. Here are the variety of scenarios and opportunities:

• News Coverage: Media outlets may be interested in using your footage to enhance their news coverage. For example, if you captured a newsworthy event or have exclusive access to footage relevant to a current event, news organizations might seek permission to use your content in their broadcasts or online articles.
• Documentaries and TV Shows: Production companies creating documentaries, TV shows, or other video projects may be interested in incorporating your footage into their productions. This could include anything from scenic shots to interviews or footage illustrating specific concepts or events.
• Educational Materials: Educational institutions, training programs, or online courses may seek out compelling video content to enhance their materials. Your footage could be used to illustrate concepts, provide real-world examples, or add visual interest to educational content.
• Advertising and Promotional Campaigns: Brands or advertising agencies might be interested in licensing your content for use in their marketing campaigns. Your videos could be incorporated into commercials, social media ads, or promotional videos to add authenticity and visual appeal to their messaging.

Licensing your content to the media can be a lucrative way to make money on YouTube. However, it’s important to carefully consider the terms of any licensing agreements to ensure that your rights as the creator are protected. Working with reputable media outlets and licensing platforms can help you navigate this process and maximize the earning potential of your videos.

Enable YouTube Super Chat & Super Stickers

YouTube Super Chat and Super Stickers are features designed to enhance viewer engagement during live-streams while also providing a way for creators to make money on YouTube. 

Super Chat allows viewers to purchase highlighted messages that stand out within the live chat during a stream. When a viewer sends a Super Chat, their message is pinned to the top of the chat for a set duration, depending on the amount they’ve paid.

On the other hand, Super Stickers are animated images or GIFs that viewers can purchase and send during live streams and premiere events. Similar to Super Chat, purchasing and sending Super Stickers is a way for viewers to interact with the creator and the community in a fun and engaging way. Creators earn a share of the revenue generated from Super Stickers purchases. Thus, they can make money on YouTube through gifs and chats purchased by their viewers.

Enabling Super Chat and Super Stickers is only available for eligible channels. Creators need to meet certain requirements, including: 

• having monetization enabled, 
• being over 18 years old, 
• and having no live stream restrictions in the last 90 days. 

Once eligible, creators can activate Super Chat and Super Stickers in their YouTube Studio settings. Moreover, they can customize various options such as minimum purchase amounts, message length limits, and allowed sticker types.

Use Crowdfunding

Crowdfunding has become a popular and effective way for content creators, including YouTubers, to receive financial support directly from their audience. Unlike traditional methods to make money on YouTube like advertising revenue or sponsorships, crowdfunding allows creators to engage with their fans. They can interact on a more personal level while offering exclusive perks, rewards, and experiences in exchange for monetary contributions. Here is a list of YouTube approved Funding websites you can make use of:

• Kickstarter
• Patreon
• Indiegogo
• GoFundMe
• Angel.me
• Crowdfunder

Platforms like Patreon, Kickstarter, or Indiegogo allow you to receive financial support directly from your audience in exchange for exclusive perks, content, or access. Crowdfunding can provide a steady source of income while fostering a deeper connection with your most dedicated fans.

Final Remarks

Building a successful YouTube channel that generates income takes time, effort, and dedication. It’s a marathon, not a sprint. However, with the right approach, consistent content creation, and a focus on audience engagement, you can turn your YouTube channel into a viable source of income. You can experiment with different monetization strategies, analyze your audience’s preferences, and adapt your content accordingly.

 Remember, building a loyal community is key to long-term success. Stay passionate, stay creative, and keep learning and refining your content creation skills. As you grow your audience and establish your expertise, you’ll unlock more opportunities to monetize your channel and potentially turn your YouTube passion into a fulfilling career. As we said at the beginning, number one tip to make money on YouTube is being persistent!

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