As you probably already know, there is more than one way to make money with YouTube. Did “let us count the ways” give you a clue, lol? In all seriousness, there are many people making money with YouTube. Not only many people, but there are also many people making exceptionally good money with YouTube. Let’s have a look ..
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Estimated annual earnings of selected YouTube channel creators as of June 2020 (in million U.S. dollars)
These numbers are taken from the Statistica webpage, you are welcome to see for yourself. Whilst looking at these numbers, keep in mind that they are in million U.S. dollars:
- Ryan Kaji: 29.5
- Mr Beast (Jimmy Donaldson): 24
- Dude Perfect: 23
- Rhett and Link: 20
- Markiplier (Mark Fischback): 19.5
- Preston Arsement: 19
- Nastya (Anastasia Radzinskaya): 18.5
- Blippi (Stevin John): 17
- David Dobrik: 15.5
- Jeffree Star: 15
Highest-paid YouTubers In 2020
Just for fun, let’s look at who the highest-paid YouTubers were in 2020. Again, numbers from the Statisca.com website.
NB: This information will probably knock your socks off, it did mine:
“Published by H. Tankovska, Jan 26, 2021 As of June 2020, it was estimated that nine-year old Ryan Kaji (Ryan ToysReview) was ranked first as top-earning YouTuber worldwide with earnings of approximately 29.5 million U.S. dollars during the measured period. However, despite this impressive accomplishment, Ryan is not even the youngest member among the top earning YouTubers. Seventh ranked Anastasia Radzinskaya, who goes by Nastya on her various channels, is six years old and earned 18.5 million U.S. dollars in the past year. Created in 2005, YouTube has become one of the most popular social networks worldwide. As of the first quarter of 2015, the global penetration rate among the online population was 81 percent. As of December 2020, the most-subscribed YouTube channels did not only include popular music artists such as Justin Bieber but also video game commentators or comedy creators. Despite their professional video production values and full-time work commitment to YouTube videos, many of these current YouTube celebrity channels were based on user-generated content such as make-up tutorials, video game commentaries or comedy sketches. As of September, the most-viewed YouTube channel was Ryan ToysReview, featuring children’s toys.”
To be clear though, Ryan Kaji is not just a little guy of nine-ish, the YouTube Channel is backed by an entire company, have a look at the About Page on Ryans.World
It’s sure to be the same for the other top earners. So, if you are interested in how to make money with YouTube, perhaps you also have your sights on earning the huge amounts of money possible.
If that is the case, I recommend you have a look at what each of the top earners is backed by. You are sure to find a team of ambitious and hardworking people putting everything together.
For now, let’s look at how individuals make money on YouTube.
How Do People Make Money With YouTube?
I recently gifted free access to Premium Plus+ Training Videos all around how to make money in YouTube Videos, you are welcome to have a read of the article and also access the training for free.
My gift for you.
In that same training, our awesome trainer, Chris, took us through the different ways to make money. Here they are:
1. Create Your Brochure Site & Resource Page
A vital part of the entire process is that you build an audience, what that means is you create videos that people want to watch.
They become your audience and, done right, also your subscribers. From there, the aim is to make your audience your buyer.
In order to make money on YouTube, you need to get your audience to buy something, right? For that, you will need a brochure site (a website, which is easy to create with the right training to follow).
The first step is to create videos people want to watch and post them to your YouTube channel consistently.
2. Join The YouTube Partner Program
Once you have achieved the milestones as set out by YouTube, you have the opportunity to apply to become a member of the YouTube Partner Program.
The milestones which qualify you to apply are as follows:
* You need to have 4000 valid watch hours on your channel
* 1000 subscribers to your channel
* You need to be in good standing with YouTube
The application process is as follows:
Once you have the above in place, you can apply for the YouTube Partner Program.
Your channel needs to be reviewed by YouTube to be considered for the YPP (YouTube Partner Program) and these are the steps to get you there:
- Achieve the YouTube Partner Program thresholds (as detailed above)
- You need to sign the YouTube Partner Program terms
- You will also need to sign for a Google AdSense account
The review by YouTube takes about one month. Keep that in mind when you get there.
It is possible for your channel to not be approved. What then?
Try not to become disheartened, keep creating great content and reapply in 30 days. It’s important that you still have your 4000 valid watch hours and 1000 subscribers in place to reapply which means it is essential that you keep creating and posting videos.
Once you have been approved as a YouTube Program Partner you start earning money from ads and also from YouTube Premium Subscribers watching your videos.
Plus, you get to make money from :
- Channel Memberships
So long as you meet the criteria and those offerings are available in your country. Here is access to a list of countries that are on the list.
3. Sign Up With Affiliate Programs
On your YouTube Channel, you can offer help to people by reviewing products and making recommendations to them. This is where you promote products as an affiliate marketer and earn a commission when your viewer buys something through your link.
This is a very cool way to make money, the best part is that you do not have your own product and you get to promote some of the biggest brands around!
Say, for example, that your YouTube Channel is based on sports products’, let’s choose cycling (just because I happen to love cycling).
You would create videos talking about everything to do with cycling. So, we know that there are different types of cyclists, let’s consider a few of them:
- Elite Road Cyclists
- Pro Mountain Bikers
- Mature cyclists for cycle for leisure
- Cyclists who do deliveries in cities
- Kids who cycle to school
and so on.
I think you can see from the above, cycling is in fact a whole load broader than one might expect. The best way to manage this would be to narrow things down to start off with.
Your YouTube Channel could be all about cycling helmets, for example, you could review the different brands for each of the categories above.
When you create a video review of a particular product, you then place a link at the bottom of your video. When your viewer clicks on that link it either takes them to your brochure site or it takes them to the website where they can purchase the helmet.
My recommendation is that your link goes to your brochure website so that you can capture your viewer’s email list and continue communicating with them via email. You know, any new great offers that come up in the cycling niche, links to your latest YouTube Videos, etc.
4. Land Sponsorships
Once your website has gained traction and you have thousands (or even millions) of subscribers, you have the leverage to approach brands in your niche for sponsorships.
Let’s consider some ideas still within the cycling niche. There are many cycling tours and races that take place all over the world.
Let’s say you have focused on the mature cyclists who cycle for leisure. Are you aware that there are companies that promote cycling tours in their countries? I have seen cycling tours promoted in Vietnam, Italy, and Serbia, for example.
Even if you were to concentrate on the Elite Cyclists, there are tour operators who would be keen to reach them! For example the Tour de France. Many Elite Cyclists (and novices) travel to France to watch the Tour de France, support their favourite cyclists, and enjoy the atmosphere and scenery of the race.
We haven’t even touched on the brand sponsors yet. You could also approach the big cycle brands like Bianchi, Raleigh, Electra, Giant, and so on.
Think about it. You are the marketing director of Giant and you want to speak directly to your target market. Along comes you with your YouTube channel focused on the cycling niche and you have millions of followers who are cycling enthusiasts! Giant’s marketing director would be very interested in speaking with you!
5. Create and Sell Your Own Digital Products
Maybe you are a graphic designer, or you have some awesome knowledge to share.
For this aspect of making money with your YouTube Channel, I am going to move away from Cycling, though there are sure to be digital products’ you could sell such as training Apps and so on. I expect that is a highly competitive niche though and you would definitely need some app design and programming skills to get ahead.
Let’s look at other opportunities such as coaching or teaching programs.
You could create modules in something you have experience in. For example, are you a chef? Perhaps you could sell a program that specializes in a particular cuisine?
As a language teacher, you could design and sell a program teaching your mother tongue, let’s say Spanish, to English speakers.
As a coach – a sports coach or a life coach, for example, you could create and sell training programs, or motivational programs, or productivity programs.
The sky really is your limit with this. Be warned though, it is a lot more work than selling products’ as an affiliate marketer for established brands. The rewards can also be well worth the effort though. Selling your own digital products means that you get to benefit from the full sale price, not a commission.
Digital products’ have the additional bonus of rinse and repeat. What I mean by this is that you create your product once and sell it over and over again. There are no costs involved with that – no manufacturing, no warehousing, no delivery costs etc.
6. Create and Sell Your Own Merchandise
Another opportunity for you is to create and sell your own merchandise on your YouTube Channel. If we take the first example of Ryan’s World, I am certain that with so many followers and supporters, Ryan’s World swag will be in high demand.
That is, the kids who watch and love Ryan’s World would be keen to wear Ryan’s World branded clothing. That’s the opportunity right there!
This, of course, would entail having your own products to sell and again, a lot more work. You could manage it as cost-effectively as possible and sell products via something like print on demand.
That is, you have a range of selected t-shirt styles on offer, with branding on them. Your viewer selects the design of the t-shirt they are keen on with the branding as advertised, the t-shirt is then printed and delivered to your customer. Again, no stock holding, warehousing, etc. it is all done on demand.
So there you have it, six ways you can make money from your own YouTube Channel. Like I said, “let us count the ways”!
The list that I shared with you at the beginning of this article is of the top earners on YouTube – trust me, there are many, many more successful YouTubers around. You can make money this way if you are prepared to put in the work required.
It may look like a lot of fun, and I am sure it is, but it is also a whole lot of work!
Learn How to Make Money In YouTube Videos
I belong to the most incredible platform of online entrepreneurs who make money from a variety of different online opportunities. Websites, Podcasts, YouTube Channels – you name it, they can be found within the community.
If you are keen to learn how you can make money in YouTube Videos, I encourage you to have a look at this training created by one of our members who enjoy success as a full-time YouTuber. Pop in and have a look, it will cost you nothing to look.
There are membership opportunities available within the community, you start off as a free member, then you pay $19 for your first month and $49 per month thereafter. I joined in 2018 and haven’t looked back.
Here is your invitation – you can watch the introduction to the Monetizing Your YouTube Channel for free.
If you have any questions at all, drop me a comment in the section below – or on my profile within the community!