These days, working a regular 9 to 5 job is no longer necessary to bring home enough income. Remote work, freelance assignments and gigs, and passive jobs are becoming more popular than ever before. Flexible work like the latter gives us greater leverage over our work-life balance, which is one of the biggest reasons why traditional jobs are no longer as enticing.
In an effort to finally kiss their day job goodbye, many might consider starting up a YouTube channel and hoping to generate enough money to replace their current income. Before even considering giving YouTube a go, it’s important to know the ins and outs of making money from posting videos online.
Here’s everything you should expect when it comes to making a profit off of YouTube:
1. First, you must qualify for YouTube’s Partner Program.
According to YouTube stats, Google brings in approximately 4 billion U.S. dollars in revenue from YouTube alone every year. With how profitable Google’s video platform is, you might be hungry for a chunk of the dough. However, it’s not as easy as merely posting videos and watching your monetary earnings increase steadily.
Unfortunately, as of 2017, it was announced that Google would no longer allow just anyone to make money from posting videos. Only those apart of the Partner Program, who have to be accepted first, can earn a profit.
The current for the qualifications for the YouTube Partner Program includes 4,000 video views in the past 12 months and have earned at least 1,000 subscribers overall. Likewise, your YouTube channel and its content must comply with the YouTube Partner Program terms and their Community Guidelines to qualify for the program.
2. Monetizing your videos
Once you’ve been approved for the Partner Program, you’re now eligible for monetization. It’s your responsibility to manually monetize your videos. From the Creator Studio of your YouTube account, select “Channel,” then “Status and Features,” and finally, click “Enable” in the Monetization section of the page.
In addition, you must create a Google Ads account and link it to your YouTube channel in order to begin running paid advertisements on your videos.
3. How earnings are generated
Now that you’re videos are monetized, and you have your Google Ads account linked to your YouTube channel, you now have the potential to make some profit. Although, there is no guarantee of how much you will get paid or if you will get paid at all. Content is king.
Earnings are calculated by your number of video views, number of subscribers, and video engagement. There are also supplemental ways to earn money from YouTube. For instance, you might engage in affiliate marketing, influencer marketing networks, or sponsorships to earn extra money from the platform.
Making money online is easier than ever before. However, when it comes to receiving earnings off of YouTube, Partner Program requirements have made it increasingly difficult for newer creators to make a profit off their videos. Fortunately, with hard work, dedication, and consistency, you too can supplement or even replace your income with your YouTube earnings.