Image Credit: Shutterstock
YouTube needs no introduction. It is a free video-sharing platform that unites all age groups and backgrounds. Whether you are a boomer, Gen X, Y or Z, a millennial or a geriatric human closing in on his or her expiry date, YouTube is there for you, to entertain you, educate you or simply to bring a smile to your lips.
What began in the February of 2005 by three former employees of US e-commerce firm PayPal is now owned by search engine behemoth Google.
The platform has made video what it is today, liberating it from the so-called media professionals and dull TV production rooms.
The rise of YouTube on the dot com horizon was so spectacular that Steve Chen, Chad Hurley, and Jawed Karim sold YouTube to Google ten months after its official launch at a then-record price of $1.6 billion.
Thereafter, as they say, the rest is history.
Google’s ownership and new revenue model changed the scene altogether, and the platform made stupendous progress. The creation, distribution and consumption of video content became an individual choice, helping it to have an unparalleled social impact across the world, influencing popular culture, and internet trends. And, more importantly, creating multimillionaire celebrities along the way. In 2021, YouTube’s annual advertisement revenue amounted to $28.84 billion, up from $19.77 billion the previous year.
The first YouTube video
Making money on YouTube
The YouTube revenue model is fairly simple. Basically, you create and upload engaging content, generate thousands or millions of views and earn a share of what YouTube makes through advertising.
YouTube has different advertising formats, including pre-roll and display ads, based on clicks and page impressions. The platform keeps 45 per cent of this revenue and hands over the rest to content creators. This seemingly easy way of moneymaking has one drawback, though. YouTube creators are paid on the basis of monetised views, not the actual views of their content.
How you can do it
For making money this way, one has to join YouTube in the YouTube Partner program. To be eligible for this, the content creators must have at least 1,000 subscribers and 4,000 hours of accumulated watch time over the prior 12-month period. With partnerships, the creator gets access to tools to monetise his or her content through Google Adsense.
Another way content creators make money is through influencer marketing via brand sponsorship. Once a content creator is generally accepted as an influencer on social media, top brands approach them to endorse their products through their content. This is often more lucrative and is independent of …….