How to Make Money on YouTube in 2024: A Step-By-Step Guide

Are you a creative being who loves sharing your unique ideas and talents? If so, YouTube might be your golden ticket to fame and fortune!

We will show you the electrifying world of “How to Make Money on YouTube,” where your creativity meets incredible earning potential.

Imagine this: you’re a talented chef making delicious dishes in your kitchen and sharing them on YouTube. Your subscriber count skyrockets when you share your recipes and cooking tips on YouTube Shorts.

It will lead brands knocking on your door, eager to sponsor your cooking videos, and your mouthwatering content will become a hit.

All this allows you to do what you like, and you are also raising money side by side. Sounds too good to be true?

It is! Whether you’re a makeup guru, a tech genius, or a gaming sensation, the opportunities to monetize your YouTube presence are limitless. Moreover, a YouTube scheduler can help you maintain a consistent platform presence.

So buckle up, get those creative juices flowing, and dive into the secrets of turning your YouTube passion into a profitable and thrilling venture!

How Much Money Can You Make on YouTube

A million-dollar question, how much money can I make from YouTube?

The answer is not as simple as you may expect!

With millions of followers, YouTube stars can easily reach seven figures. Even beginners or less-known content creators with reasonable following can earn a handsome income.

The founder of the famous kid’s channel, Like Nastya, makes up to $80 million with 106 million subscribers and 90 billion views. This is what a road to exceptional success looks like.

According to Forbes, another example is Dude Perfect, a sports and comedy channel with up to 59.5 million subscribers and made about $20 million in revenue.

These are a few examples of successful YouTubers. Many content creators make a handsome amount yearly. But it is important to remember that the amount you may earn from YouTube depends on several factors.

So, what factors can influence your income?

These factors include ad revenue, channel size and engagements, niche and content, monetization method, and geographic location.

It is also important to note that YouTube changes its policies with time, affecting potential earnings. Moreover, not all channels can make money on YouTube until they meet the requirements set by the channel.

It may take time to make money from YouTube videos. Still, you can reach a good digit every year with passion, dedication, and unique content.

How Many Views Do You Need on YouTube to Make Money

It’s not that simple to estimate the earnings solely depending on the views on YouTube. Making money on YouTube videos depends on these factors:

• Engagement Rate
• The niche you have chosen
• Viewers Satisfaction

An average YouTube channel gets up to 18¢ per view. Calculating for 1,000 views makes the revenue reach $180.

But, before that, you must become eligible for the YouTube Partner Program. You may require up to 4,000 watch hours on your videos and about 1,000 subscribers on your YouTube channel.

Your YouTube income depends on the video views plus the Ad watched. You won’t earn money if the viewers don’t watch Ads (using Adblockers).

It is YouTube’s policy for billing advertisers, so viewers must click or watch the Ad resulting in getting you paid.

In short only views cannot do anything; watching or clicking on ads helps you make money on YouTube.

Can you make money from YouTube shorts views? Well, this depends on views and audience. Making money on YouTube shorts is also quite different from regular content.

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7 Incredible Ways to Get Paid on YouTube

If you are still thinking how much money can I make from YouTube, there is more to it. The good news is you can diversify your money-making on YouTube.

From YouTube Partner Program to become an affiliate, there is much potential to earn on YouTube.

TDLR; I love selling products and merchandise as it has huge growth potential and profit margins.

Here are different ways that can help you get paid on YouTube.

1. YouTube Partner Program

   One of the best revenue streams is “Ads.” You must join a “YouTube partner program” and set up monetization.

   

   Besides that, following the YouTube monetization policies according to your region is essential. For monetization, It takes you to reach 1,000 subscribers and up to 4,000 watch times for the previous 12 months.

   Follow the below steps to monetize your YouTube account.

   • Open your YouTube channel.
   • Look at the top right corner and click your Account icon.
   • Choose YouTube Studio.
   • Select Other Features using the left menu.
   • Select Monetization.
   • Carefully read and agree to the terms and conditions of the YouTube Partner Program.
   • Connect your Google AdSense Account to your channel.
   • Choose monetization according to your needs.

2. Sell Products or Merchandise

   Making money on YouTube videos is easier when you know the art of selling products. Selling products or merchandise like coffee mugs, snapbacks, tote bags, and custom t-shirts can help you earn extra revenue.

   Selling branded products is easy enough and requires less effort than it seems at first. There is no need to order affordable designs of specific products through an authorized or freelancing site like Fiverr.

   When you start getting orders through your YouTube channel, you can easily open your own dropshipping store and find one of the best dropshipping suppliers in US who will take care of the shipment of your products.

   Dropshipping is considered to be one of the best businesses involved with the least amount of effort and the highest income potential.

   Another way to make money on YouTube is by partnering with an existing merchandise network. This allows you to offer branded products related to your channel and earn a commission from each sale.

   This model has limitations in controlling the items or benefits. But comes with the advantage of earning without the hassle of managing your own ecommerce site.

   

3. Crowdfund your Next Project

   Crowdfunding is another straightforward way to make money from YouTube. Whether you want to build ongoing revenue from your donations or look for funds for your channel-related projects, it is the simplest way to make money on YouTube.

   You may only need to give your fans an appealing sneak peek and collect funds to make revenue.

   For crowdfunding, follow the below steps:

   Set Up a Crowdfunding Account: Sites like Patreon, GoFundMe, or Kickstarter are the best options to consider for crowdfunding. So, create your account with these sites and start your business.

   Promote your Campaign: After creating videos, it’s time to promote them. It is important that your video must be full of attraction and people can get your point of view. Offer exciting perks that urge your fans to choose how much to donate.

   Go beyond YouTube: It is important to promote your YouTube channel so that you can increase your fan following and also increase your revenue through crowdfunding.

4. Support Through Fan Funding

   This strategy enables you to generate income on YouTube through multiple revenue streams while maintaining a common focus on engaging and building a strong community with your audience.

   You have to make your plan easy for your audience so that they will show their appreciation by sharing funds.

   Some common strategies for fan funding are below.

   Host Live Chats: Recently, YouTube replaced the Fan Funding feature with Super Chat. But it is important to know that this feature is only available for YouTubers when they use live streaming.

   In this way, your audience makes their comments visible. Moreover, they will be highlighted and pinned for a set amount depending on how much they can pay during the live chat stream.

   Encourage your Fans: YouTube allows the audience to pay you to get your channel membership. But in exchange, you may need to provide them with what they want, like custom emojis, badges, or access to your exclusive members to connect you directly with live chats.

   It is important to encourage your fans to become subscribers of your YouTube channel. You may need to build a strong strategy to provide convenience to your members. Super Chat is an exclusive feature available for YouTubers.

   YouTube Premium Subscriber: Encourage your fans to get a premium membership to your YouTube channel. It is one of the best ways to make money on YouTube, as you can cut the subscription fee when these members watch your channel.

   

5. License your Content

   Do you have the skill to produce interesting videos that can go viral on social media? If yes, you can create a video to license your content for money.

   When your video goes viral, popular brands may love to buy your content so they can replay it for their audience to get more attention. And in this way, you can start making money on YouTube videos.

   Licensing your successful work will ensure you are easy to find. But you may need to consider the following strategies:

   Remain up to Date: You don’t know when lightning may strike. Be ready for everything and update your contact details so anyone can approach you easily. If you don’t have a business manager, you may need to set up an email account to fulfill your business inquiries.

   Sign up for Your Video Rights: You may need to sign up for a marketplace to save your video right, and Jukin Media provides you with a platform where people can buy it. Even if you don’t have a viral video, you can save it for media outlets as they require footage for immediate reporting.

6. Promote Brands as an Influencer

   Brands invest in advertising their products through influencers with a loyal audience base. It will create a huge opportunity to make money on YouTube shorts and videos.

   According to WebFX data, how much money can you make from YouTube as an influencer:

   • $20-$25 per video for 1,000 subscribers
   • $200-$250 per video for 10,000 subscribers
   • $2,000-$2,100 per video for 100,000 subscribers
   • $20,000- $21,000 per video for 1,000,000 subscribers

   However, it depends on your followers and what you offer to the brands. The brands will pay you for marketing their product if you have relevant content according to their items. Moreover, it also depends on your niche’s content quality and uniqueness.

   The key to partnering with a brand is to keep your content transparent and show them what you are and what you like so that you will remain upfront for your audience. Some platforms, such as Crodtap and Upfluence, can help you to include your channel to get noticed by brands.

   Know that some marketplaces may offer you free products, but other reputed brands can pay you more to get your services. It is best to capitalize on opportunities but list your channel in as many places as possible to maximize your visibility.

   Take a look at the inspiration

7. Become an Affiliate Marketer

   Affiliate marketing is one of the best and beginner-friendly ways to increase your YouTube channel traffic.

   Follow the below steps to become an affiliate marketer:

   • Find a company or seller like Amazon that can offer you an affiliate program.
   • Once you join a company, create links for products you want to promote in your videos.
   • Provide a detailed review of the product in your video and insert their affiliate link in the video description while posting your YouTube videos.

   You will get a commission as an affiliate of the brand when a viewer clicks on the link and buys a product through your provided link.

   Amazon is one of the best sellers with endless opportunities. However, you can also search affiliate links on ClickBank and ShareASale.

How Much Money Do YouTubers Make Per Year?

Many YouTubers have interesting content on their channels, so they have millions of subscribers and followers. A few famous channels are MrBeast, Dude Perfect, Like Nastya, and JuegaGerman, making millions of dollars yearly from just a single video.

For example, Jake Paul has subscribers up to 20.4 million and makes 7.3 billion video views on his YouTube channel. He is a music artist turned pro boxer with content focused on his training.

The total estimated earning of this YouTuber is around $21 million. So, making money on YouTube is not difficult if you know how to grab viewers’ attention.

5 Tips for Making Money on YouTube

Do you want to become a YouTube ninja and know how to make money from YouTube videos? Here are some YouTube tips to start making money on YouTube videos.

1. Understand Your Audience

   To run your YouTube channel, you may need to build up your audience first so that you can monetize your content.

   But it is only possible when you understand what your audience expects from you and what they want to see.

   To monetize accounts, most YouTubers choose a niche for their channel to provide their vision and thoughts to their viewers.

   You will be better positioned to target a specific brand community. It is important to pay attention to the following:

   • Audience gender.
   • Age range.
   • Location of the viewers.
   • Overall engagement and watch time of your audience.

   With this information, you can better understand your audience and work with a better brand.

2. Set up a Call to Action

   “Like and subscribe for new and amazing content.”

   You may usually see this call-to-action line at the end of the video. Most YouTubers include it to enhance their viewership.

   This way, you can get your audience’s consideration, increasing the opportunity to generate income.

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3. Add Well-Timed YouTube Cards

   Info cards or YouTube cards are important whether you want to promote your product or deal with another brand. These cards provide an eye-catching way to get your audience’s attention and help keep them engaged.

   

   There is only a need to set them so they will pop up at the right time when they associate with a special moment in the video.

4. Add Links in Descriptions

   You can attract an audience by adding links in the video description, which helps you to attract your fans and audience to the Patreon page or Kickstarter campaign.

   If you are a YouTuber and want to generate higher income through your channel and videos, take the example of Marques Brownlee.

   

   This YouTuber specializes in product reviews and generates money by using the affiliate links under his videos. The followers click on these videos and open the links to purchase something from those brands and campaigns.

5. Promote Your Offer on Other Platforms

   If you want to maximize your earnings on YouTube, don’t limit yourself to just the platform itself. You can set up your campaigns and discounts through Facebook, Twitter, and other social media platforms where you have your profile.

   The more places you use to leave your message, the greater the chances to promote your channel and increase traffic. So, promoting your channel through social media marketing and other popular ways to cover more audiences is always an excellent YouTube idea.

The Bottom Line

How much money you can make on YouTube depends on various factors like channel size, uniqueness of content, location, and fan following.

But you can monetize your channel through a YouTube partner program by meeting the platform’s requirements. You may need to stay up-to-date about the policies, which may change with time.

The easiest way to make money on YouTube is by posting regularly, engaging the audience, and tracking results.

If you have passion and skills, no one can stop you from taking advantage of the money-making opportunity from YouTube.

Frequently Asked Questions