Building a side hustle for the sole aim of passive income isn’t a new thing. There are several businesses you can do on the side, but in this article, we’d focus on YouTube.
A YouTube channel will be a great idea if you’re considering starting a side hustle.
Creating YouTube videos might seem fun, but if you want to use YouTube as a side hustle, it brings in a profitable income.
A lot of YouTuber’s are earning substantial incomes through the platform. The big question is, how much do YouTubers make?
Let’s discuss how you can make money with YouTube and how much you can make through it.
How to make money on YouTube
Being a YouTuber will expose you to several different ways to monetize your channel. Let’s explain the various methods below.
1. Ad Revenue
Just like other sites on the internet, YouTubers can receive ad revenue.
Even though the numbers will be different based on your channel, you can earn from thousands of views.
A lot of YouTubers earn around $18 for every 1,000 ad views. That maths out around $3 to $5 per 1,000 video views. But Hey, this varies.
It typically depends on your channel, but that gives you an idea of what it takes to earn a living on YouTube.
If you have a massive amount of subscribers, then brands will be willing to partner with you for promotions or ambassadorial opportunities.
As you grow a base of subscribers, you’ll get more lucrative brand sponsorship opportunities.
The sponsorship opportunities depend on your audience and the brand.
For instance, you could get paid in cash for the promotion of products, or you might receive free products instead.
Sponsorships will only be profitable when you have a broad audience.
The number of sponsorships or endorsements you’ll get will depend on your channel nature and the quality of your audience.
If you’ve created a brand around your YouTube channel, then your subscribers will be interested in merchandise. You can increase revenue from your YouTube channel by selling products that’ll appeal to your audience.
A few merchandise ideas include t-shirts, hats, and bags. But it’s not limited to that. You can branch out into other branded products that’d appeal to your followers.
Let’s take, for instance, if you have a cooking channel on YouTube, then you may want to sell branded kitchen equipment.
4. Affiliate Links
An affiliate link allows earning commissions if one of your subscribers purchases the product through your link.
Let’s say you advertised an amazon product and included an affiliate link. When your followers click through the link to purchase the product, you’ll receive a percentage of the sale.
Over time, these little earnings accrue and become significant income.
To be clear, you’ll need a massive following to make a reasonable sum of money via affiliate marketing.
Additionally, if your subscribers trust your opinion, you’re certainly going to swim in cash.
Most YouTubers engage in this practice and then substantially from it.
If you believe that a product will be of great interest to your audience, you should consider including an affiliate link in your video.
Always ensure your links will be of value to your audience. Otherwise, it’ll turn out to be that most of your recommendations are not valuable to your subscribers.
How much do YouTubers make?
Several YouTubers earn millions of dollars each year. There’s absolutely no limit to your earnings.
Let’s look at some examples of successful YouTubers:
- PewDiePie: PewDiePie made $13 million through his platform last year.
- Jeffree Star: Popularly known for his makeup tutorials, Jeffree made $17 million in the previous year.
- Ryan Kaji: An eight-year-old is on topping the YouTube earning chart. In 2019, he made $26 million.
The figures are indeed tasty. However, it can be tough to break into this high earnings on YouTube for different reasons.
Firstly, it’s not easy to build subscribers. Although it might seem effortless to post a few videos and wait for people to starting viewing, it’ll require a lot of work.
YouTube is hugely competitive. Even with 300 hours of video uploaded every minute, it can be challenging to stand out, but if you can stand out from the crowd and be creative about it, you’ll do just fine.
Related: 6 Important Tips To Overcome Financial Hardship
How to get started earning money on YouTube
If you want to make money from YouTube, you need to be unique. Before you starting sharing your video content, reflect on what you want to build with your channel. What kind of followers do you want to gain? What kind of message do you want to share with the world?
Whatever it is, you’d want to share always ensure it’s of great value and separates you from the crowd.
Once you start posting videos, aim for some basic metrics. The first milestone is to get 1,000 subscribers. After that is achieved, you aim for 4,000 hours of watched video in a year.
That’ll certify you get started with some ad revenue.
Afterward, you can start implementing other monetization strategies based on your subscribers.
Should you give YouTube a try?
If you’re considering building a channel that’s impressive and stands out and ultimately you enjoy the workflow, then YES. Why not give it a try?