YouTube is the most visited social media site following after Google and Facebook. According to Brandwatch, there are an impressive 400 hours of videos uploaded to YouTube every minute and their audience reach spans to the 18 – 49 year old age group. YouTube accounts for two-thirds of the millennial audience who watch premium online videos on smart devices. This is more than any broadcast or cable TV network!
This extremely popular video sharing platform is consistently making upgrades and improvements to provide an enriched experience to its audience. YouTube has confirmed in a recent release that creators can now get access to a variety of tools and features. This helpful addition was not accessible to users until now and creators could only monetize on the traditional advertising aspect of YouTube. Another great benefit today is that creators are able to generate revenue from videos through non-advertising sources and can effectively engage with fans.
To help creators generate revenue, YouTube has come up with the following:
- Channel Memberships
Channel membership allows creators to charge a monthly fee of about $4.99 per subscriber. The user will have access to custom badges and emojis, as well as they can enjoy access to live chat, extra videos, and shout outs. Subscribers will also get access to a special live stream, along with additional videos in the “Member’s Only” posts in their “Community” tab. There are some eligibility criterions required for creators to obtain. They are required to accrue 100,000 subscribers, and those subscribers must be over 18 years of age.
YouTube is aiming to empower creators to sell merchandise as this is another concrete source of income with the new platform. All eligible US channels with more than 10,000 subscribers can sell their goods in combination with Teespring. Absolutely no profit from merchandise goes to YouTube.
Premieres are engagement initiatives that will come with a prerecorded video. This feature includes many extra revenue streams. Premieres will highlight a facility that requires users to pay for comments in the video uploads that will stand out among the others. Users will also have use of the super chat live streamer payment option.
Premieres will also allow the creator to produce a landing page for promotions way ahead of a video’s release.
This particular feature is available to all creators and viewers, but it is very likely to become a “membership-only” feature.
YouTube has successfully superseded Facebook in providing more opportunities for creators to monetize channels and generate more income than any other platform today. It is a huge income boost for young creators who want to generate more revenue.