Everyone nowadays wants to hop on the hype train surrounding Youtube – the video platform from Google. Even though it has been around for more than a decade, thanks to the popular adoption of mobile devices, there is no better time to start a channel and make money from it.
A top earner on this site can take home tons of money in a single year. For example, Jake Paul’s channel was reported to have an earning of $21.5 million in 2017 while in the same year, Ryan’s World – a popular name for children around the world, made $22 million.
This does sound irresistible, right? Who doesn’t want to record videos in their bedrooms and collect money without needing to work for anyone else? Just upload whatever you have edited and watch the money pour in like water!
We also wished the reality was as simple as that. But even though once you have achieved minor success with your channel, when you start to see an increasing number of Youtube views and subscribers or even come across your own videos on other social media platforms, money won’t still automatically roll in your pocket yet.
Still have no idea why? Well, one reason only. Even if your channel already has good engagement, you still need to monetize it to get your rewarded money. Youtube doesn’t pay you to use or upload videos to its site (if you don’t believe us, just read the Terms and Conditions again, did Youtube promise to pay you anything?) And while it allows some kinds of monetization, they are not enabled by default either. You need to opt for a form of monetization that fits you the best, and there are more ways to do this than you might think.
Popular Monetization Methods For A Youtube Channel
The earnings of Ryan’s World or Jake Paul might make many people think that all those millions of dollars came directly from Eazyviral Make Money YouTube. However, each of those popular channels actually has a diverse revenue stream that all takes advantage of the popularity of the channel to pull money from multiple sources.
If you have a clear understanding of your channel’s audience, there are other ways to monetize it.
Paid endorsements such as brand deals or sponsorships are a lucrative way to get an extra stream of earning from your channel. For example, a popular name can be paid tens of thousands of dollars for a single sponsored segment in a few videos. As long as you have a solid viewer base and don’t bring a negative impression to their brands, businesses will be happy to pay you, no matter who came to who first.
Once your channel has really taken off and established its own position on Youtube, you can think of making and selling your personally branded merchandise, such as canvas bags, mugs, and T-shirts. There are various partners out there ready to handle everything for you, from actually making products and shipping. What you need to do is only advertise them on your channel under your name.
The most well-known player in this business is Patreon, which works in almost the same way as crowdfunding sites. The biggest difference is that with fan funding, your channel has already gained an audience base, or “fans”, which you’re confident they are ready to support you with real money so you can continue to produce videos.
Patreon makes sure that you have a constant stream of money every month via the “membership” plan while crowdfunding is more about giving you a good kick-off with some money at the start.
This is a unique way to raise money for your channel even though all you have now is just an idea. If you are confident to be inventive enough and think that the biggest challenge standing on the way to your success is only the starting money, crowdfunding is your best bet. Once you can make many people feel confident about your idea and vision for your new channel, they can give you enough money to cover production costs such as equipment, props, and even your rent and foods.
There are a lot of ways to woo your funders with a higher level of funding, including exclusive merchandise, giveaways, videos, or even an early glimpse of your next videos.