How to Make Money on YouTube in 2024: If you want to dive into the world of online video and make money on YouTube, you’ve landed in the right place! This ultimate guide will walk you through every step necessary to get monetized in 2024, including the latest changes to the YouTube Partner Program (YPP) and tips for success. You don’t have to wait until you have thousands of views or subscribers to start earning money; you can begin right now by leveraging your existing platforms and creativity.
Table Of Contents
How to Make Money on YouTube in 2024
Starting Out: Earning Even Before Monetization
One of the most significant points to understand when starting your YouTube journey is that you don’t need to be a YouTube star to start earning. Here’s how:
- Sell Products or Services: You are allowed to promote links to your products or services in your videos even if you have no subscribers. This means if you have something to sell, you can start generating income right away.
- Follow Guidelines: While you’re free to promote externally, make sure to adhere to YouTube’s guidelines to avoid any issues.
However, for those who aim to make money through ad revenue, joining the YouTube Partner Program is your key target. Let’s discuss what it takes to get into the YPP.
The YouTube Partner Program (YPP)
YouTube has recently updated the requirements for the Partner Program. Here’s what you need to know:
- First Tier Requirements:
- 500 subscribers
- 3,000 watch hours in the last 12 months or 3 million views on YouTube Shorts within 90 days.
These metrics allow you to become eligible for some monetization features, such as fan funding, including Super Chats and channel memberships.
- Second Tier Requirements (for running ads):
- 1,000 subscribers
- 4,000 watch hours in the last 12 months or 10 million YouTube Shorts views in 90 days.
Tip: Watch hours from public long-form videos and live streams contribute to your total; watch hours from unlisted or private videos do NOT count. To maintain this journey, remember that only watch hours gained in the last 12 months will count towards your total.
Steps to Apply for YPP
Once you’ve achieved the requirements, you will need to apply for the program:
- Verify Your Account: Ensure two-step verification is enabled for your Google account.
- Submit Application: Fill out the application process on your YouTube dashboard.
- Wait for Review: Your channel will undergo a human review process that can take up to a month but typically less than a week.
Make sure to read and understand the YouTube Partner Program’s terms of service, especially if you’re under 18—parental permission is necessary.
After your approval into the YPP, you can start monetizing your videos. Several monetization tools available include:
- Ad Revenue: This is the most sought-after option, allowing you to earn through ads shown on your videos. YouTube’s share of ad revenue is 45%, leaving creators with a 55% cut.
- Super Chats, Super Thanks, and Memberships: Direct contributions from your audience when they enjoy your live streams or videos.
Understanding Ad Revenue
When it comes to advertisements, it’s crucial to have a grasp of concepts like CPM (Cost Per Mille) and RPM (Revenue Per Mille).
- CPM refers to how much advertisers are willing to pay per thousand views on your video.
- RPM provides a clearer picture of your earnings as it factors in YouTube’s share and any additional income from viewer interactions, giving you a better overview of how much you’ll take home.
Note: Remember, not all genres perform equally well in terms of CPM—financial content typically attracts higher CPMs than entertainment or gaming content.
Handling Payments
You will typically receive your payments near the end of the following month, after your earnings go through verification. Setting up your AdSense account correctly is vital for receiving payments, which will vary based on taxes applicable in your country.
Stay Compliant and Covered
To maintain your monetization status, adhere strictly to the following:
- Avoid Copyright Strikes: Violating copyright can lead to demonetization or channel termination, so always use original content or ensure fair use.
- Keep Your Channel Active: If your channel becomes inactive for over six months, you risk being booted from the YPP.
Conclusion
With the right approach and diligent work, making money on YouTube is incredibly achievable in 2024. By understanding the requirements for the YouTube Partner Program, navigating monetization tools, and adhering to community guidelines, you pave the way for a successful channel.
Ready to take the plunge? Start creating content today and implement the strategies discussed to enhance your chances of monetization. Don’t forget to share your journey in the comments and connect with others on the same path!