What compels most creators to create is rarely the money. It’s the thought of making something for the world to enjoy. But ironically, that puts them in a great position to actually make money in a content-obsessed world.
While the hard part for many businesses is getting and keeping their audience’s attention, most YouTubers have already figured that bit out. All that’s left is to get creative—to channel the entrepreneurial drive to explore ideas—with how you choose to monetize your passion.
Just like being an Instagram influencer or a blogger, your audience might unlock your earning potential, but it’s the creation of multiple revenue streams that help you actually make money. However, let us focus on how to make money without veering off the YouTube Platform.
Inasmuch as YouTube keeps tweaking its algorithm when it comes to monetization, there is a need to understand that unless your channel is “Monetized”, you will not earn a dime from YouTube. Your views count or subscribers do not make you money on YouTube, rather it is the ads that run on your videos that bring the money.
So, if you have, say, 1 million views on a particular video and your channel isn’t monetized, you cannot make any money. You have to be a YouTube Partner to be eligible to activate monetization on your channel. The YouTube Partner Program lets creators monetize their content on YouTube. Creators can earn money from advertisements served on their videos.
Here is how to activate monetization on your channel:
- Sign in to YouTube.
- In the top right, select your account icon > Creator Studio.
- In the left menu, select Channel > Status and features.
- Under “Monetization,” click Enable.
- Follow the on-screen steps to accept the YouTube Partner Program Terms.
Below is an example of a channel that is enabled for monetization.
Once your monetization is enabled, you’ll notice a green “$” next to your videos in the “Video Manager”, indicating whether it’s been enabled for monetization, which you can click on to access the monetization settings for each video.
A monetized video means you can earn money from the video when it is watched.
NOTE: For channels that are yet to meet the new monetization eligibility threshold set by YouTube, there is still a way for you to retain your monetization without hitting 1,000 subscribers and 4,000 hours watch time. Find out in my next post!