In order to monetise YouTube content, an application for the YPP, YouTube Partner Program, will have to be filled in and a review would be carried out on the content, watch time hours and the number of subscribers for the channel. This is a great way for YouTubers to earn money from the adverts served on the videos and YouTube Red subscribers watching.
Recently, YouTube has changed some of their requirements to the application and continue participation in the program. As YouTube has encountered several issues (e.g. Logan Paul controversy) in 2017, they are trying to prevent any harming or offensive content damaging the reputation of “inspiring and original creators” (Additional Changes to the YouTube Partner Program to Better Protect Creators). The eligibility requirement for monetization is now 4,000 hours of watch time within the past 12 months and 1,000 subscribers.
Many working YouTubers have been affected by this change, according to YouTube, 99% of those who made less than $100 per year in 2017 and 90% of those who made less than $2.50 in December 2017. But YouTube promised that their core value of “providing anyone with the opportunity to earn money from a thriving channel” has not changed and that anyone with a passion to share and build their channel would have a chance to join.
How to achieve: YouTuber
As there are differences in the goals YouTubers and businesses are trying to achieve on YouTube, they share key goals of gaining attention and earning a profit.
For YouTubers, they try to come up with original ideas every day in order to have returning-audience. In Joey Ahern’s case (Business Insider), he moved to the heart of the social media world, Los Angeles, to make YouTubing into his full-time career. Many others give up their full-time job to put all their focus on creating videos. So this is a career that requires strong will and perseverance, most importantly, taking a high risk of failure. Although many of YouTube’s ad revenue goes to commercial channels like (artist’s) VEVO, many current YouTubers like PewDiePie can still earn an estimate of $12 million a year. As I mentioned in a post (The New Profession: YouTuber), for some YouTubers, YouTubeing is not their aim for a full-time career. It is more like a stepping stone or a milestone of their career path and map, for example, cosmetic line, book publishing and TV appearances.
Therefore in order to use YouTube effectively and achieve in a competitive industry, the best way is to live the best of your life. From an interview conducted of a working YouTuber, to create the best videos, the most important is to be happy and make sure you are doing what you love and enjoy. A YouTuber also gave some advice on how to make it on YouTube, he provides many useful advice, tools and websites that is going help starting up a YouTube channel.
How to achieve: Advertiser
Advertisers invest over $5 billion annually on YouTubers worldwide where YouTube takes about 2% share of all the digital ad revenues, an estimate of $1.96 million, a much higher market share than Twitter, LinkedIn, Amazon.com etc. With an growth of consumer demand for video content across devices and working with Google to improve the viewing experience, YouTube is estimated to create a revenue of $1.22 billion in 2018. Spotting this development, more and more ad investments can be foreseen as this would be a great opportunity and bridge to promote products and communicate with consumers in a more down-to-earth channels. As well as having YouTubers, who are considered relatable and reliable in the viewer’s point of view (intimacy achieved by the bedroom setting).
So to successfully promote your products on channels and YouTubers, is to find those who have the right target audience and genre. Also as they would be part of your brand image, make sure they are making the content that is suitable for the company or the product’s image and brand.
After discussing how we can use YouTube effectively in both the YouTubers and advertisers’ point of view, do you think YouTube can be your next step to fame?