Although it can be a difficult career path to be successful in, YouTube is one of the most lucrative ways to earn money on social media. But how do influencers grow their YouTube earnings and make millions? Let’s find out!
How YouTubers Earn Money
There are many examples of influencers on YouTube that have grown their platforms until they became millionaires. From gamer PewDiePie to stunt YouTuber MrBeast and even channels that review children’s toys, there are a number of channels with massive YouTube earnings to boast of. But every one of them can agree that making their first paycheck was the biggest challenge. The more subscribers and fame you have, the more clicks you get and the more money flows into your bank account. Of course, every new user can sign up for an AdSense account, which allows them to monetize their channel by placing ads in their videos. However, it won’t make any money if there isn’t interest to back it up. What matters more is garnering views from real fans, people that are actually interested in the content and who watch your videos and are willing to subscribe.
While some advertisers work on a cost per thousand views (CPM) basis, most of them choose to use cost per click (CPC). The latter only measures (and pays for) the number of people that click on the ad, and even for big YouTubers, that’s usually a small amount. Meanwhile, CPM ads only require the viewer to watch for at least 30 seconds. That’s why influencers ask their fans to turn off advertisement blockers and not skip ads. That said, even if your fan base is willing to watch those ads for you to get income, you’ll only receive the money once your AdSense account reaches $100, which can take a while for a newbie.
Insane YouTube Earnings
Once YouTubers get about 20,000 loyal subscribers, there’s a chance to earn money in other ways. For example, many smaller content creators make merchandise, non-related products, or start crowdfunding profiles. Patreon is one of the most popular sites for artists and creators to raise additional funds. The average Patreon user donates $7. But don’t forget that the platform asks for a 5% commission of that sum. Of course, YouTubers with regular and high-quality uploads receive more support on crowdfunding sites. The Comedy Button, a creator with about 22,000 subscribers, rakes in $13,129 per month thanks to patrons. As their number of subscribers grows, a YouTube creator can use specific, related words and phrases in the video titles and subscriptions to drive up the CPC and earn more.
At 1 million subscribers and up, influencers receive their best YouTube earnings. Over 2,000 channels have 1 million fans or more in 2022. While some of these are music channels for creators like Justin Bieber, others built their empires from scratch. At that point, you’re a proper YouTuber with great opportunities like sponsorships and endorsements. There’s also more room to try different content when there’s so much interest, although it can be a risk. PewDiePie, who first posted gaming videos on his channel, is now doing reviews, vlogs, commentary, and more. Still, he managed to hold onto his fanbase and earn himself a net worth of $78 million. Meanwhile, Graham Stephan, who has 3.4 million subscribers, did something even riskier — he launched his coffee brand. Other YouTube stars have created fashion lines, makeup brands, music labels, and more to up their earnings.
Sources: Business Insider, Influencer Marketing Hub