YouTube Guide to Building Revenue Streams in 2024

Since YouTube added short-form videos with YouTube Shorts in 2021, it has created more ways for creators to earn money. Including Shorts creators in the YouTube Partner Program has expanded monetization options even more. Creators can now make money in several ways, like partnering with brands, selling merchandise, and affiliate marketing. However, many YouTubers still rely on ad revenue through the Partner Program as a major source of income.

Understanding the YouTube Partner Program

The YouTube Partner Program (YPP) allows creators to earn ad revenue from both long-form and short-form content, including YouTube Shorts. Through this program, creators make money from ads, ad revenue sharing, and YouTube Premium subscriptions.

Monetizing YouTube Shorts is also a great way to attract viewers to long-form videos, which can increase ad revenue opportunities over time. For many creators, YPP is the first step to generating income on the platform and joining has become more accessible.

Eligibility for YouTube Partner Program (YPP)

Creators who want to join the YPP must comply with YouTube’s policies, be based in a supported country, and meet these key requirements:

1. Subscriber and Activity Requirements:
• Have at least 500 subscribers with three public uploads in the last 90 days.
2. View Time or Shorts View Requirements:
• Achieve 3,000 valid public watch hours over the past 12 months, or
• Gain 3 million public views on Shorts within the last 90 days.
3. Monetization Features:
• Once accepted, you can access earning features for product promotion, such as channel memberships, Super Chat, Super Stickers, Super Thanks, and YouTube Shopping.
• Shorts ad revenue is available, where revenue is pooled and distributed based on Shorts video performance.
4. Content Guidelines:
• Unedited clips from TV shows or movies cannot be monetized due to copyright restrictions.

Meeting these requirements gives creators valuable revenue opportunities through YouTube’s various monetization features.

Expanded Earning Opportunities:

• Creators reaching 1,000 subscribers and either
• 4,000 valid public watch hours in the last 12 months, or
• 10 million valid public Shorts views in the last 90 days can access extra revenue options like ad revenue sharing and YouTube Premium earnings.

Growth-Dependent Income:

• Earnings generally rise with your channel’s audience, but income will vary based on factors such as view count, audience location, and channel niche (e.g., finance channels often earn higher rates).

Challenges for Full-Time Creators:

• The YPP isn’t suited to everyone, as strict content guidelines mean videos with policy violations can receive strikes. For creators aiming to keep a unique style, adhering to these rules can be challenging, especially when considering a full-time path.

Alternative Monetization Options:

• Creators using copyrighted music or reacting to other content often explore other revenue sources outside of the YPP to maintain income consistency.

5 Different Revenue Streams for YouTube Creators

Here are various strategies for YouTube creators to earn income beyond the Partner Program.

1. Generate Revenue with Fan Support

When creators foster an engaged and loyal audience, fan funding can become a valuable income source. This model is especially useful for YouTubers who create reaction or commentary videos, where copyright restrictions can impact their ability to monetize through ads. Since copyrighted content may prevent ad revenue, creators often spend considerable time editing without financial returns.

Platforms such as Buy Me a Coffee and Ko-fi allow creators to earn support from subscribers through exclusive perks offered at a monthly or one-time fee. If your content is impactful, fans might even choose to support you without additional incentives. Here are some examples of bonus content to consider:

• Behind-the-scenes access
• Extended video segments
• Downloadable resources
• Early access to upcoming releases
• Exclusive live events or unique merchandise

Example:

Polyphonic, a YouTube channel that creates detailed video essays on music history and analysis, also faces copyright restrictions that limit monetization opportunities. Using Patreon, Polyphonic provides supporters with access to exclusive content, including early access to videos and behind-the-scenes updates. Over 1,500 patrons contribute between $2 and $50 per month, helping the channel continue producing content despite ad limitations.

Platforms like Patreon have been instrumental in helping channels like Polyphonic sustain their work, relying on direct fan support to maintain a consistent revenue stream even when ad income isn’t possible.

2. Partnering with Brands

• Brand partnerships are everywhere on YouTube (you’ve seen the “This video is sponsored by…”). These partnerships work well because creators build trust with audiences who follow them personally, not just for products, while brands bring in the funds. This collaboration strengthens the creator economy for everyone involved.
• Engagement rate and audience type matter more than the number of subscribers. This gives creators an advantage: a highly engaged, niche audience can mean great earnings, even with just 1,000 followers.
• Your media kit is key to negotiations. This kit includes past work examples, audience stats, and rates, helping you present yourself professionally to brands.
• Tips for creating a media kit and using an online calculator to estimate brand deal rates based on audience size can boost your chances of securing brand deals.

3. Embrace Affiliate Marketing

Overview:

Affiliate marketing allows YouTubers to earn income even without being part of the YouTube Partner Program, making it a popular revenue stream.

How It Works:

Creators promote or suggest products through affiliate links, monetizing their natural product mentions in videos.

Earnings Variation:

Income from affiliate marketing can vary widely based on:

• Content Category
• Affiliate commission rates

Example of Success:

• Erika Kullberg, a personal finance creator, earns 25% to 50% of her channel’s income through affiliate marketing.
• Jake Tilk, a digital marketing creator, reported average monthly earnings of $1,700 from affiliate sales in 2022.

Long-Form Videos: Creators can achieve higher revenue per thousand views with long-form content compared to short-form videos, making them more lucrative for affiliate marketing.

Transparency: It’s crucial to disclose any potential earnings from affiliate recommendations to maintain audience trust and comply with legal guidelines. A simple note in the video description or comments works well.

Real-Time Example: MKBHD (Marques Brownlee), a tech reviewer on YouTube, frequently incorporates affiliate links for products he reviews. By showcasing gadgets and linking to retailers, he earns commissions on sales generated through those links. MKBHD's affiliate marketing efforts significantly contribute to his overall income, reflecting the potential for creators in the tech niche to profit from product recommendations.

4. Venture into selling goods, both physical and digital

Overview: Selling physical and digital products has become a significant revenue stream for many YouTubers.

Diverse Options: Creators have leveraged various platforms to sell products, ranging from branded companies (like MrBeast's Feastables and Emma Chamberlain's Chamberlain Coffee) to digital templates on platforms like Etsy.

Importance of Merchandise: Merchandise is essential for creators to strengthen their brand and connect with their audience beyond the digital space. It fosters a tangible relationship with fans.

Variety of Products: Creators have numerous options for products to sell. Here are some ideas:

• Branded Apparel: T-shirts, hoodies, and caps
• Accessories: Phone cases, bags, and pins
• Art and Prints: Posters, art prints, and custom illustrations
• Digital Products: E-books, online courses, and design templates

Merchandise Evolution: The concept of merchandise has expanded for creators, with increased resources and creativity leading to unique offerings. While traditional items like t-shirts remain popular, innovative approaches are emerging.

Real-Time Example:

• Elliotisacoolguy, a self-taught designer with 128,000 subscribers on YouTube, offers two purchasing options for his merchandise: poster prints from his online store and design collaboration with Casetify, showcasing the blend of creativity and commerce in the YouTube space.

Templates

• What it is: Some creators sell templates for advanced tools like Excel or Notion.
• Why it works: Many users prefer ready-made versions for convenience, even if creators show how to make them.
• Example:
• Thomas Frank, a Notion educator, created a video on building a Second Brain template.
• He includes a link in the description for a ready-made version that he sells.
• In 2022, he earned over $1 million from digital product sales.

Real-Time Example :

• Creator: Kathy Haan
• Specialty: Productivity tools
• Success: Sells ready-made Google Sheets templates and earned over $500,000 in 2022.

Courses

• What it is: Teaching others what you know, either for free or through paid courses, is a profitable way for creators to monetize their channels.
• Rising popularity: Courses have gained traction as platforms like Kajabi and Teachable have emerged, allowing creators to capitalize on their expertise.
• Example:
• Ali Abdaal, a creator focused on productivity and education, shared in a video that he made nearly $3 million from course sales in 2022.
• This shows the potential for significant earnings through course offerings, even for smaller creators.

Real-Time Example :

• Creator: Jenna Kutcher
• Focus: Lifestyle and business coaching
• Success: Earned about $1.5 million in 2022 by offering online courses on social media marketing and photography.

5. Fund Your Creative Endeavors

Definition: This method is similar to fan funding but typically involves a one-time donation from supporters interested in backing your content.

Best Platforms: Websites like GoFundMe or Kickstarter are ideal for individual campaigns, particularly when seeking funds for significant projects like creating a music video or self-publishing a book.

Example:

• Creators: Genokids, an indie game development team.
• Background: They began sharing YouTube videos detailing the development of their game, which shares the same name, six years ago, accumulating over 6,000 subscribers and hundreds of thousands of views.
• Fundraising Campaign:
• In 2023, they initiated a Kickstarter campaign to finance their game's development.
• They successfully raised €30,000 within 24 hours, with contributions continuing to grow.

Real-time Examples

• Creator: The Doubleclicks
• Project: Music album
• Platform: Kickstarter
• Success: Raised over $50,000 to fund their album, “Love Problems,” by engaging their fan base through music-related content.

Diversify Your YouTube Monetization Strategy

Overview: One of the best aspects of producing content on YouTube is having a dedicated audience that accompanies you throughout your journey. Thus, it’s less about the specific monetization methods you choose and more about the value you provide.

Combine Strategies: Experiment with various monetization avenues to discover which combinations yield the highest returns and resonate best with your audience.

Key Points :

• Engaged Audience: Having a loyal follower base allows for diverse monetization options.
• Value Addition: Focus on providing valuable content to strengthen audience connection.
• Exploration: Don’t hesitate to mix different monetization strategies, like affiliate marketing, merchandise sales, and fan funding, to find the most effective approach for your channel.

Conclusion

In summary, building multiple revenue streams on YouTube in 2024 requires a mix of engaging content, strategic partnerships, and consistent community interaction. By diversifying your monetization methods—whether through ads, sponsorships, merchandise, or memberships—you can establish a reliable income source and foster long-term channel growth. With the right approach, creators can turn YouTube into a rewarding platform, combining creativity with business savvy to maximize their earnings.