If you’re a YouTube creator, one of the things you should do pretty early on is monetize your channel. Through YouTube’s built-in ad system, you can earn money as soon as you post your first video. While you shouldn’t expect to make a lot immediately, over time, those small amounts add up. The best part about this system is how easy it is to set up and start earning. Let’s go through the steps required to monetize your channel and explore some other ways to make money.
- Head to your YouTube Dashboard > Click Channel > Click Advanced. On this page, you are going to need to select the country where you live. Do this first as different monetization methods are available in different countries.
- Now go to the Status and Features. Here, you’ll see many cards with different features, some of which can be enabled. You can determine if any of the other features appeal to you, but for right now you’ll want to enable Monetization.
- You’ll land on a page that tells you a little bit about Monetization and the Partner program. Click on “Get Started”, where a pop up will detail the terms of the agreement. You should read through this in detail and save a copy for yourself before agreeing to it.
- Once you are comfortable with the Terms, you’ll need to click off on the three confirmation boxes and click on accept. This will now take you to set up an AdSense account.
- The application process for an AdSense account is straightforward. You need to have a YouTube channel with monetization enables. You must be 18 years old or older. Once AdSense approves your application, you’ll be able to start monetizing your videos. You'll start getting paid when your AdSense account hits $100 in earnings.
- For any videos you upload, you will need to activate monetization for them. It’s a simple toggle that you’ll find in the videos settings. You can also control what types of ads you want alongside your content on that page. To set your videos to automatically monetize, click on Upload Defaults and select monetization.
How much can your make after you monetize your channel?
The amount you can make on YouTube varies significantly depending on your niche and what ads cost. But, a good rule of thumb is you will earn $1-$3 per thousand views. To give you some context, you need to be generating over a million views per month to replace a full-time income. That’s why so many creators don’t rely on AdSense monetization alone.
What other ways can you monetize your channel?
There are a couple other ways you can make money through your YouTube channel. The first is Paid Content while the other is a new feature called Super Chat. Both of these monetization options are on the Status and Features page. If you want to enable either of them, you need to agree to a “Commerce Addendum” that goes over the terms of service.
Paid Content allows you to sell access to a specific video. You can set the price of the video but you'll have a split with YouTube. This might be ideal for business oriented YouTube channels who want to sell a premium service. It could work for more personal channels, but your audience may dislike this strategy.
Super Chat is a new monetization product that YouTube has introduced for live streaming. Essentially, it enables a chat participant to pay money to have their chat message highlighted. This gives it more importance over regular chat, and gives you higher reason to interact with it. Because someone is paying money to send you a message, you should definitely interact with them. This service currently only exists for live video.
There are third party ways to make money on YouTube, but these are the systems available to creators on site. Together, they may, over a long period of time, enable you to become a full time creator. YouTube is always looking for new ways to make money, and that benefits you as a creator as well.