YouTube stars are today’s celebrities who have made a name for themselves – people who have built an audience through creating video content aimed at education, entertainment, reviews, and excellence on the web.
Joining the YouTube Partner Program
The first income source you will likely explore is advertising. Whether you want to make money on YouTube without creating videos or as a content creator, joining the YouTube Partner Program (YPP) and setting up monetization verification is a crucial step.
Selling Products or Merchandise
You can sell a variety of different products to earn money through your YouTube channel. Selling featured products increases your exposure by bringing your brand online and your personality into the real world, deepening the relationship between you and your audience as they purchase your products. You can request affordable custom designs for specific products, such as t-shirts, using freelance sites like Fiverr.
Funding Your Next Creative Project
When money is the only thing standing between an idea and its execution, crowdfunding is a good way to bridge that gap. You can rely on your own audience and the crowdfunding community to contribute to fund your project if your idea is compelling enough.
Support Your Audience Through “Fan Funding”
Similar to crowdfunding your project, you can also set up “fan funding” streams to raise donations from your audience. As a creator, you contribute your voice online without forcing your audience to pay an entry fee. Therefore, if you provide good content, your audience may be willing to support you continuously.
Licensing Your Content to Media
If you create a viral video with mass appeal – such as a funny clip featuring your dog – you can license your content for money. Television media, morning newspapers, online news sites, and other content creators may reach out for the rights to use your videos if they go viral.
Working with Brands as an Influencer
Brands are investing more and more in marketing and sponsorship through influencers, spending their large advertising budgets on influencers who have already won the loyalty of their audience. This presents a huge opportunity for you as a creator if you can negotiate the right deals.
Become an Affiliate Marketer
Affiliate marketing refers to earning a commission by promoting a product or service created by another brand. You can become an affiliate marketer for brands and ensure product placements or promotions in your videos. However, you must disclose partnerships to viewers in your videos.
Source: https://www.shopify.com/blog/198134793-how-to-make-money-on-youtube
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