Money. Moolah. Dough. Paper. Cheese. C.R.E.A.M.
No matter what you call it, it makes the world go ’round for better or for worse. The same goes for YouTube. Producing high-quality content can also cost you a pretty penny. For instance, YouTube stars SlowMoGuys use a $100,000 camera. Obviously that’s an extreme example, but I think you’ll find money tends to get a little tight when you’re putting out consistent, high-quality content. This is why it’s a good idea to monetize your youtube channel; not just to get paid (which is important and totally rules) but also so you can finance further awesome content for your channel. Here’s a few ways to feed your wallet while keeping your content fresh and flowing.
1. Become a YouTube partner.
The YouTube partner program has been going strong for a few years now and is easily the most common way YouTubers monetize their videos. Enabling monetization on your video’s through YouTube’s platform allows Google to show ads on your videos, either via pre-roll (the videos that play before your video) or banner ads. Monetizing your videos automatically makes you a YouTube partner, but channels with 7500 total watch hours in the last 90 days are eligible for special perks such as use of YouTube’s new live spaces.
Money brought in from monetization can range anywhere from $10 and up, and is largely based on either cost-per-click or per thousand impressions (how many times the ad is shown). The actual data for average payments to YouTubers is nearly impossible to collect (YouTube is legally required to keep ad revenue per person confidential.) While it is a great supplemental income, it isn’t nearly enough to finance your whole channel (I speak from personal experience.) If you upload regularly (per week) and receive about 20k views per video, you can expect around $200 to $500 per month.
Patreon is all the rage with content creators right now. How it works is simple: Consumers enter their payment information and a pledge a (typically low) dollar amount to a certain creator. That amount is automatically given to content creators every time they release a new piece of content. If you have 10 people pledging $10, you make $100 every time you release content. You can also set perks for regular donators to encourage higher donations, akin to Kickstarter. This allows audiences to directly fund content they want to see in an incredibly easy and affordable away. It’s very simple, efficient and an awesome way to generate some extra income for your channel.
Another large appeal of Patreon is it’s flexibility. Pledging isn’t limited to just YouTube channels. Plenty of artists, poets and musicians have set up Patreons and get paid by their fans every time new content is released. It’s a unique, new-age way of paying for content and it’s something you should definite check out. The pricing on Patreon is interesting because it’s not so much dependent on the size of your channel, but rather how strong of a connection you have with your audience. One anonymous Youtuber I spoke to has just over 1 Million subscribers and brings in about $1000 per video. He uploads generally 5 times a month and generally brings in $5000 per month from fan donations alone.
3. Brand Sponsorships
Sponsorships are an awesome way to finance your channel. Tons of brands are dying to utilize YouTubers to help market their products and are willing to pay a good amount of money to do so. But as some of you may know, half of them have no idea what they’re doing and will reach out to just about anyone for anything. Why would your make-up channel want to promote a set of kitchen knives or 6ft long water balloons?
Come on, brands.
That’s where Grapevine comes in. Now, I’m obviously biased, but Grapevine is probably the best way out there to acquire and manage brand sponsorship. We don’t just help you find any sponsorships, we help you find sponsorships that are the PERFECT fit for your channel. When you sign into our platform, our system gathers analytic data and demographic information from your channel to make sure we only approach you with sponsorships that make sense for you and your audience. Not only that, but we also make it easier for brands to find you. Before us, brands would just send offers randomly to YouTubers they might like, with no real rhyme or reason behind their selection. Now with our network, they can come straight to us looking for good fits for their products and we can point them directly to you. Due to confidentiality, we can’t disclose the average amount that we pay each individual per campaign. But it’s substantial.
Payments owed come every Friday. No if ands or buts.
YouTube can soak up a lot of time, so it’s important to monetize your hard work. Not only so that you can continue to create high-quality content with a budget, but also so that you can eat this week! The best part of this list is that none of these options conflict with each other; you could potential have all 3 of these things running at one time. Lucky for you – Youtube, Patreon and Grapevine all make it super easy to manage and receive funding so you can do what you do best – make awesome content that your subscribers love.