The terms "monetization" and "making money on YouTube" are closely related but have distinct nuances:
In essence, while "monetization" refers to a set of specific methods provided by YouTube to earn revenue, "making money on YouTube" is an umbrella term that covers all potential avenues through which a creator might generate income through their YouTube presence.
- Monetization:
- Definition: Monetization on YouTube refers to the process of earning revenue from your videos or channel by enabling various YouTube revenue-generating features.
- Process: Before you can monetize, you need to join the YouTube Partner Program (YPP). As of my last training data in September 2021, to be eligible for the YPP, you need at least 1,000 subscribers and 4,000 watch hours in the past 12 months. YouTube's policies and thresholds can change, so always check their official guidelines for the most recent requirements.
- Methods: Once approved for YPP, there are various ways to earn money:
- Ad Revenue: Earned from display, overlay, and video ads.
- Channel Memberships: Viewers pay a monthly recurring fee to get badges, new emojis, and access to exclusive perks.
- Super Chat & Super Stickers: Viewers can pay to pin their comments on live chat during a live stream.
- YouTube Premium Revenue: Earn a share of the revenue when a YouTube Premium subscriber watches your content.
- Merch Shelf: Allows you to showcase your official merchandise right on YouTube.
- Making Money on YouTube:
- Definition: This is a broader concept that includes monetization as explained above, but also encompasses any other method or strategy that allows a creator to earn income via their YouTube presence.
- Ways Outside of Monetization: Apart from the official monetization methods provided by YouTube, creators can also make money by:
- Sponsored Content: Brands pay YouTubers to promote their products or services directly in videos.
- Affiliate Marketing: YouTubers promote products and provide affiliate links. When viewers purchase using these links, the YouTuber earns a commission.
- Selling Products or Services: Directly selling digital products, courses, physical merchandise, or services to viewers.
- Crowdfunding or Patreon: Some YouTubers ask for support directly from their viewers through platforms like Patreon or by using one-time donation platforms.
- Licensing Content: If a video goes viral, other media outlets might pay for the right to use the clip.
In essence, while "monetization" refers to a set of specific methods provided by YouTube to earn revenue, "making money on YouTube" is an umbrella term that covers all potential avenues through which a creator might generate income through their YouTube presence.