How to make money on YouTube in 2024

Recall that viral YouTube video that incited a spontaneous reaction, perhaps even causing you to spew tea this morning? It’s essential to recognize that such videos have the potential to generate substantial earnings for their creators, amounting to thousands of pounds. Here, we elucidate how you, too, can capitalize on YouTube as a source of income.

We’re absolutely serious when we assert that substantial income can be derived from crafting YouTube videos, and it just might be one of the most enjoyable methods of making money available.

Granted, it’s not as effortless as the mere snap of one’s fingers, conjuring money into your bank account as if by magic. Nevertheless, the process of monetizing YouTube videos remains a relatively straightforward concept.

To facilitate your journey toward earnings, we’ve meticulously assembled a comprehensive, step-by-step guide. Your gratitude can be conveyed later through a generous token of your earnings, should you so choose.

How much does YouTube pay?

Let’s dive straight into the pivotal question: how much do YouTubers actually earn? We won’t beat around the bush. The answer, honestly, is a bit of a mixed bag.

While there’s a slim chance that you might wake up to discover your video has gone viral, the reality is that this is highly improbable. In the current landscape, brief, humorous videos tend to attain virality on social media platforms, as opposed to YouTube. Consequently, the likelihood of your auto-tuned feline creation, for instance, skyrocketing to fame overnight on YouTube remains rather low.

Your primary avenue for accumulating YouTube earnings typically involves cultivating an audience through the consistent publication of content. This can encompass a myriad of activities, such as creating vlogs, engaging in popular video gaming, or yes, even documenting your cat (regardless of their musical talent).

How much does YouTube pay per view?

We’ve all heard about prominent figures like Zoella, PewDiePie, and Logan Paul (among others, who are undoubtedly more amiable), raking in millions of pounds annually from their YouTube endeavors. Nevertheless, for the vast majority of YouTubers, the earnings tend to be far more modest.

As a standard yardstick, you can anticipate generating roughly $3 to $5 per 1,000 views (equivalent to about £2.50 to £4.10 per 1,000 views, at the time of this composition). To put it into perspective, one million views translate to $3,000 to $5,000, or between £2,500 to £4,100 for those of us residing in the United Kingdom.

However, more popular channels and videos can command earnings closer to £6 or £7 per 1,000 views. Being popular quite literally pays off in this realm.

We had a conversation with Jack Allen, a student who derives income from his YouTube channel, Tezla. He conveyed the inherent challenge of determining an exact earning figure, as the performance of each video can vary significantly.

It’s crucial to bear in mind that YouTubers and their channels often delve into additional income streams, which can significantly augment the earnings derived solely from video views.

One notable avenue is the creation of personalized merchandise or entering into advertising agreements with pertinent companies. These endeavors have the potential to yield substantial sums.

Advertising contracts, typically involving the creation of videos that endorse or incorporate specific products, often result in payments of several thousands of pounds. Furthermore, if you can successfully persuade your YouTube subscribers to follow you on platforms like Instagram or TikTok, you open up opportunities to earn anywhere from £40 to £2,000 or even more for sponsored posts on these platforms.

Exploring these supplementary sources of income can be a worthwhile endeavor. Continue reading to discover more about these lucrative avenues.

Multi-channel networks for YouTube creators

mouse hovering over subscribe button on YouTube

If you’ve delved into the realm of generating income on YouTube, you may have encountered the term ‘multi-channel networks’ or ‘MCNs.’ As the name implies, MCNs function as management entities for YouTube channels, akin to how numerous musicians are signed to a single record label.

Joining an MCN can provide you with various advantages, including access to higher-quality production and editing resources, the potential to collaborate with other channels or celebrities, and assistance with channel marketing and growth.

The dangers of MCNs

In exchange for the support provided by an MCN, content creators typically agree to relinquish a portion of their earnings and accept certain constraints on their creative freedom. In theory, this arrangement seems equitable, but MCNs have frequently faced criticism for exploiting their authority and offering unfavorable terms to content creators.

Jack shared with us his experience of potentially earning more from his videos had he not been locked into an onerous contract with a subpar advertising network. What’s worth noting is that it’s not solely smaller channels that can fall prey to MCN’s unfavorable terms.

Even influential figures like Ray William Johnson, one of the pioneering success stories on YouTube, was reportedly pressured by Maker Studios to sign a contract that would have entitled the company to a substantial share of his Google AdSense revenue, as well as 50% of his channel’s intellectual property.

Johnson chose not to agree to the contract, and this decision led to Maker Studios discontinuing production on one of his albums, as well as his flagship show, Equals Three.

Therefore, while enlisting the services of a multi-channel network can offer a pathway to elevate your content, it’s imperative to approach contract agreements with caution. These companies have, on occasion, taken advantage of content creators. There’s a real risk that you could end up earning less money than if you had pursued your YouTube journey independently.

How does the YouTube Partner Programme work?

The YouTube Partner Programme (YPP) serves as a platform that empowers video creators on the site to commence monetizing their content. Members of this program can access multiple revenue streams, which include:

  1. Advertisements displayed on your videos.
  2. Earnings from YouTube Premium subscribers consuming your content.
  3. Channel memberships, wherein paid subscribers gain access to exclusive content.
  4. Super Chats, allowing viewers in a live chat to elevate the visibility of their comments by offering support to the streamer.

Joining the YouTube Partner Programme

Becoming a member of the YouTube Partner Programme is not feasible if you possess just one viral video in your portfolio. To qualify for YPP membership, you must meet specific criteria:

  1. Accumulate over 1,000 subscribers.
  2. Amass a total of more than 4,000 hours of watch time on your videos within the past 12 months.
  3. Adhere to YouTube’s community guidelines and terms of service.
  4. Maintain a Google AdSense account.

If you’re concerned that your viewers might be deterred by advertisements, rest assured that you have the liberty to select the types of ads that appear on your videos, including skippable clips and overlaying banners.

It’s important to emphasize that you cannot monetize videos featuring copyrighted material. In instances where you’ve recorded a segment of a live performance, for example, you won’t be able to generate revenue from any ads displayed on that video.

Indeed, reaching the established thresholds required for YPP membership presents a considerable challenge. To offer further insight into channel growth and achieving these goals, let’s delve into what Jack had to share on the matter.

What do you need to start a successful YouTube channel?

man at desk with film equipment and laptop

The type of content you intend to create will dictate the essential setup you need, and it’s crucial to get it right from the outset.

Utilizing your iPhone to record side-splitting vlogs, for example, may not convey the level of seriousness and professionalism that you aim for. A proper setup can significantly contribute to establishing credibility and garnering respect for your videos. This viewpoint aligns with Jack’s perspective as well.

Jack graciously offered his recommendations for both equipment and software suitable for individuals embarking on their YouTube journey. We’ve collaborated his insights with our own to compile a six-point guide to kickstart your YouTube endeavors:

YouTube channel starter kit

This is what you need to start being a YouTuber:

To embark on your YouTube journey, you’ll want to have the right equipment and software in place. Here’s a six-point guide to get you started:

  1. A Quality Camera or Webcam: Recording your videos in full 1080p HD is crucial for excellent video quality. For cameras, consider the Canon G7X, or opt for the more budget-friendly Logitech C920if you prefer a webcam.
  2. Video Editing Software: If you use an iMac, iMovie is a decent built-in option. PC users or those seeking advanced features can explore programs like Adobe Premiere Pro, VEGAS, and Final Cut Pro. You can also consider Lightworks, a free alternative to professional video editing software.
  3. Microphone: While most cameras come with built-in microphones, for top-notch sound quality, you might want to invest in a separate microphone. Based on your budget, options include the Blue Snowball, Blue Yeti (popular for podcasting), or the RODE Podcaster.
  4. Lighting: Although not essential, some successful YouTubers swear by good lighting. You can work with existing household lights or invest in dedicated video lighting.
  5. A Suitable Backdrop: If you’re filming vlogs, consider setting up a backdrop. You can go for a plain color or enhance the room’s aesthetics without being too distracting.
  6. Capture Card (for Gaming): If you plan to record console games, you’ll need a capture card. A recommended choice for beginners, according to Jack, is the Elgato HD60.

How to make the best YouTube videos

As mentioned earlier, payment on YouTube is contingent on your popularity – the more popular you become, the higher your earnings. While this can be frustrating, it’s a logical concept. After all, why invest in advertising on a billboard that nobody sees, just as you wouldn’t spend on advertising for a video that nobody watches?

Though the idea of building a substantial audience may appear daunting, Jack serves as a testament that it’s achievable even while balancing your daily life (he began his journey while still in school). Here are some top tips from Jack, along with a few of our own, to help you on your way:

How do you make a successful YouTube channel?

Here are some tips on how to get more views on YouTube:

1. Be confident

Viewers generally don’t gravitate towards content creators who appear too timid to engage with the camera, but being excessively arrogant can also be a turn-off.

2. Follow popular trends

It’s important to stay tuned to the content currently being published by popular channels, rather than solely focusing on what has succeeded in the past.

3. Find your niche and be unique

two people paying fifa on playstation

 

While it might seem contradictory, Jack concurred: maintaining a unique and distinctive identity is equally important alongside staying attuned to trends.

With this in mind, take some time to contemplate what you excel at and whether there’s potential interest from the audience. Even better, analyze prevalent trends and ponder how you can introduce a unique twist to them.

For instance, gaming videos have gained tremendous popularity on YouTube. However, it’s also a highly competitive domain. Consider how you can inject a distinctive perspective into this genre. If you can achieve that, you might discover your niche!

Other sought-after categories encompass product reviews, comedy, beauty vlogs, and general ‘how to’ guides. Once again, explore ways to leverage these trends while differentiating yourself from the masses.

Don’t fret if you commence without a precisely defined concept. As demonstrated by Jack, there’s room for evolution and growth.

4. Choose a good channel name

This may seem like a minor detail, but rest assured, it’s not.

Just as you wouldn’t anticipate an employer to regard your CV seriously if it arrived from an email address like taylorswiftfan2k17xx@hotmail.co.uk, people are similarly inclined to be less receptive to your YouTube channel if your username is, well, taylorswiftfan2k17xx.

Examine the usernames of some of your preferred YouTubers for inspiration on the sort of vibe to pursue. Nevertheless, strive to maintain uniqueness and distinctiveness if feasible.

5. Be yourself

This is one of our foremost tips for forming connections at university, and frankly, it’s applicable across all facets of life. If you’ve ever attempted to adopt a persona that isn’t genuine, you likely realized it becomes exhausting, and eventually, your authentic self will emerge.

Moreover, unless you possess remarkable acting skills, your audience will probably discern that you’re not being authentic.

Jack highlights that pretending to be someone you’re not is a regrettable and widespread error committed by YouTubers.

6. Use catchy, relevant titles and thumbnails

Have you noticed the header photo at the beginning of this article? In case you didn’t realize, it’s a playful imitation of the typical thumbnails you encounter on YouTube. It’s all in an effort to entice viewers to select that video over the multitude of alternatives.

7. Upload content regularly

youtube homepage

We emphasized this earlier, but it’s worth reiterating: if you desire your channel to gain and maintain popularity, you must consistently upload content.

Furthermore, regardless of whether you choose a daily, weekly, or monthly upload schedule, strive to adhere to regular intervals. Posting on a specific day each week aids your viewers in anticipating when new content will be released and ideally reduces the frequency of inquiries about the next video.

8. Show that you love your content

Being yourself or identifying a niche, while important, isn’t enough. Perhaps the most crucial element is to demonstrate to your viewers that you’re genuinely passionate about what you’re doing.

Your enthusiasm for your videos and the subject matter will significantly influence how they are received. If you appear genuinely interested, it’s likely your viewers will be too!

Conversely, if you lack passion for what you’re doing, you’ll quickly grow disinterested, and this disinterest will reflect in your videos. Passion should take precedence, with financial gain following afterward.

Always ensure that you adhere to the rules as well: avoid inappropriate content, copyright infringements, or spamming. Play by the rules, and you’ll be on your way to making money in no time.

How else do YouTubers make money?

If your channel is well-stocked with a substantial video collection and boasts a committed audience, here’s how you can generate income on YouTube aside from relying solely on Google AdSense:

1. Affiliate marketing

One of the most accessible options is to delve into the realm of affiliate marketing.

We provide an in-depth explanation in our comprehensive guide to affiliate marketing, and it’s also briefly discussed in our guide on making money from a website. In essence, affiliate marketing entails sharing a link to a website, and if someone makes a purchase through that link, you earn a percentage of the sale.

At times, you may even receive compensation when someone clicks on the link, regardless of whether they make a purchase. According to Jack, affiliate marketing is a practice that nearly any YouTuber can explore for themselves.

2. Sponsorship

As previously mentioned, established YouTube channels frequently generate income through sponsorship agreements. These deals are typically relevant to the content featured on your channel. However, occasionally, a company may approach you with the intention of increasing their brand visibility, regardless of your channel’s specific focus.

Rest assured, you don’t require a subscriber count in the millions to secure a sponsorship deal. As Jack clarified, he has successfully secured several sponsorship agreements over the years.

In a similar vein, even if you’re uncertain about receiving direct payment from an advertiser, it’s worthwhile to reach out to certain companies to inquire if they’d provide you with free samples or products in exchange for featuring or reviewing them in your videos.

As long as you adhere to advertising regulations, this could serve as an excellent means to derive benefits from your YouTube channel.

3. Donations

Platforms like Patreon, Buy Me a Coffee, and Ko-fi serve as valuable tools that enable your fans to sign up and make donations if they wish to support your channel.

While you’re reliant on people’s goodwill and generosity, you can increase the likelihood of receiving donations by offering exclusive content or products as a token of gratitude for their modest contributions.

The crucial factor for success in this realm is to cultivate an audience that genuinely values your content. If they appreciate your work, there’s a good chance they’ll be willing to contribute a bit each time you upload.

4. Merchandise

Depending on the level of success you achieve, you might contemplate diversifying into the creation of your own merchandise.

Whether it’s t-shirts, mugs, or even smaller items like pens and badges, devoted fans will eagerly participate if they sense it fosters a sense of community and shows their support for you.

However, avoid the mistake that some prominent YouTubers have been criticized for (cough, Zoella, cough), which is overpricing items that are essentially of little value just because your name is associated with them. If you wish for your fans to hold you in high regard, reciprocate that respect by not overcharging them for merchandise.

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