YouTube plays various roles in people’s life. It can be a source of entertainment, education, or a mean of passing the time for some people, while it can be a source of income for others.
While becoming a professional YouTuber might sound like a fun idea, it takes a lot of effort with probably no guaranteed insurance. However, if you’re willing to invest some time and earn some amount of money, there are a few options to get paid on YouTube.
Let’s get started!
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YouTube Partner Program
Entering the YouTube Partner Program helps you earn directly via YouTube. However, to become a partner, you must meet the following requirements:
- Your uploaded videos must have more than 4000 views within the last 12 months.
- More than 1000 subscribers.
- Your videos must follow the website’s advertisement guidelines.
- You must link a Google AdSense account.
Once you meet the requirements mentioned above, you are eligible to apply by clicking the “monetization” section in your profile. The program enables you to earn money through advertisements and unlocks a few special features as well.
A valid Google AdSense account is required to become a partner; you already know that! The advertisers use Google AdSense to bid on your videos that are based on various factors. You will be paid when someone clicks on or watches the ad, resulting in the number of impressions your videos get. Also, an undisclosed rate cut is taken by YouTube on ad revenues.
On the other hand, YouTube will pay you once the balance reaches $100. However, the AdSense payments issued by Google don’t come with tax deductions, so you may want to keep a certain amount aside to pay the tax.
YouTube Premium is an ad-free and paid subscription-based service. You can make videos and upload them on YouTube Premium, which can be viewed only by premium members. Therefore, you will get paid based on the number of premium members that view your videos.
Product Placement And Video Sponsorship
Video sponsorship is one of the best ways to earn from YouTube. Many companies sponsor YouTube videos based on the quantity of audience on a YouTuber’s channel. You can get a company to sponsor your videos or a company that offers you product placement deals. The payment will be based on a per-sale basis or commission tiers.
When signing up for sponsorship or product placement deals, be 100% sure that you know the product and are willing to sell the same. In the advanced setting tab of your video manager, tick on the “video contains paid promotion” box if you get a product placement or an endorsement for your videos.
Well, crowdfunding pretty much explains itself, right. However, in terms of content generation and earning on YouTube, there are two types of crowdfunding: recurring and project-based.
In recurring crowdfunding, the contributors pay an amount that they specify on a regular or fixed schedule. If you wish to turn your channel into a substantial income source, the maximization of recurring crowdfunding would be a prudent decision to make.
On the other hand, project-based crowdfunding is mainly an idea for a project that needs financial assistance. You can get funded on websites such as Patreon, Indiegogo, or GoFundMe.
Well, these are the best ways to make money on YouTube in 2024. However, new changes will need to be implemented once the algorithm is updated. Perfect planning and faultless execution is the way to get paid on YouTube.