2. Get viewer tips from YouTube Super Chats
If you enjoy interacting with your viewers in real time, you will love Super Chats. These financial rewards are gifts from your audience that can only be broadcast during YouTube live streams or video premieres.
This is how it works:
Via YouTube live chat, viewers can pay anywhere from $ 1 to $ 500 to post their comment at the top of the chat. How long a comment is held depends on how much money the viewer spends.
For example, a super chat worth $ 100 will remain pinned to live chat for an hour. A $ 300 super chat is held for three hours. Super chats are displayed in bright colors like red, green, blue, or any other shade – and include the donor’s name, comment, and expenses.
Sounds good, right?
It’s nice to know that every time you host a live stream there is an opportunity to make extra cash while connecting with the viewers.
Here’s a look at the Super Chat dashboard in YouTube Analytics:
3. YouTube Premium: The money maker that you don’t have to manage
YouTube Premium is a sneaky income booster. You’d think the revenue from this service was only for top YouTubers – the likes of Pewdiepie, NikkieTutorials, and DanTDM, but luckily, that’s not the case.
YouTube Premium is a platform for viewers who want a better YouTube experience. For a monthly fee of $ 11.99, subscribers get access to YouTube Music Premium, YouTube Originals, ad-free ads, video and music downloads, and a feature that allows content to play in the background on mobile devices.
But how does this generate income for authors? It is really easy.
All videos on YouTube’s main platform are available on Premium. So if a premium viewer is viewing your content, YouTube may share some of their subscription income with you.
The amount you get depends on how much playback time your videos get. The longer the observation time, the more money you will make.
That is why Premium is a passive moneymaker. As long as you upload content to YouTube, you can earn premium income.
4. Set subscription prices with YouTube channel memberships
Channel memberships are paid, multi-tier subscription packages that provide viewers with exclusive content. You can think of this as the YouTube version of Patreon, except that viewers don’t have to leave YouTube to access premium content from their favorite creators.
YouTube Channel memberships allow you to make money by offering a range of perks – custom badges and emojis, videos, live streams, community posts, live chats, and more – and then set a monthly price for your services.
Monthly fees are tiered, with basic tiers costing less money (e.g. a few dollars) and higher, service-oriented tiers costing much more. Currently, developers on YouTube can choose how much they want to bill members, as long as it’s between $ 0.99 and $ 100 per month.
Channel memberships are one of the best ways to take control of your YouTube earnings. Since you set the prices and decide what content fans get, your earnings can be huge. Even if YouTube saves 30% of all revenue, the 70% that you own could be a significant amount as you build your audience.
5. Increase your income with a YouTube merchandise shelf
To many, it may come as a shock how much money you can make selling your own goods on YouTube. In 2019 alone, the 20 largest developers of branded merch generated a total of 29.9 million US dollars.
Once your channel starts on the platform and you are building a stable community of active, engaged viewers, creating and selling branded goods may be the next logical step in your income generation strategy.
As of now, you can make more money on YouTube by displaying a carousel of branded products under your videos. To do this, your channel (which doesn’t have to be related to music) must have more than 10,000 subscribers. If you have a music channel, it must be an official artist channel to display merchandise.
Turnkey companies like Teespring, DFTBA, Crowdmade and Killer Merch allow developers to submit designs and set up a shop by activating a “merch shelf” under the videos in question. In this way, the developer can offer products (e.g. T-shirts, hats, stickers, hoodies, backpacks) to the public.
You can add up to 12 products on one shelf, giving you plenty of opportunities to entice the audience. As your channel and brand grow, there is an opportunity to take this merch a step further by creating your own line of clothing like Jacksepticeye and setting up a shop on an independent url.
Bonus: Additional ways to make money on YouTube
As wonderful as they are, the methods above are just a fraction of what YouTube monetization options are. There are additional ways to make money on and off the platform, including:
Affiliate Marketing: Insert affiliate links to products that support you in video descriptions. When someone uses your link to make a purchase, they will receive a percentage of the profit.
Brand sponsorships: Get paid to create videos for specific products / services.
Sale of courses: Share your general expertise with viewers and encourage them to learn more about off-platform courses.
Generate significant revenue on YouTube
Hopefully this post inspires you to either start or continue your YouTube journey. Don’t forget that YouTube regularly introduces new monetization features, some of which are only available for channels that meet certain criteria, such as: B. Watch Time or Subscribers.
Creating and maintaining a YouTube channel is a long and challenging process. However, the trip can be very worthwhile if you come up with an idea for content that resonates with both viewers and YouTube itself.
If you are committed to creating and executing a successful audience development strategy, YouTube and its monetization features can help you regain return on investment and more.
There is nothing like sharing your passion with the world, working for yourself, and planting the first seeds of financial freedom.