How to Make Money on YouTube in 2024

Since introducing short-form videos with Shorts in 2021, YouTube has become more accessible to a wider range of creators. By also including Shorts creators in the YouTube Partner Program, the potential for monetization on the platform has expanded significantly.

YouTubers have various options for monetizing their content, including brand sponsorships and merchandise sales. However, a significant portion of many YouTubers' income comes from Google ads, largely due to the YouTube Partner Program.

What is the YouTube Partner Program?

Creators in the YouTube Partner Program can generate ad revenue from both long-form and short-form videos through ads, ad revenue sharing, and YouTube Premium. Monetizing YouTube Shorts can also boost viewership for long-form videos, creating more opportunities for ad revenue.

The YouTube Partner Program (YPP) is often the initial avenue for many creators to earn money on the platform, and getting started has never been easier.

Requirements for the YouTube Partner Program

The program is accessible to creators who adhere to YouTube’s guidelines and reside in a participating country. To qualify, you need:

  • 500 subscribers and at least three public uploads in the past 90 days, and
  • Either 3,000 valid public watch hours in the last 12 months or 3 million public views on YouTube Shorts in the past 90 days.

Creators can also earn ad revenue from ads shown between Shorts videos. Once accepted, you’ll have the opportunity to make money through features like channel memberships, Super Chat, Super Stickers, Super Thanks, and YouTube Shopping.

Revenue from Shorts is distributed from a creator pool based on the performance of your content. Note that unedited clips from TV shows or movies are not eligible for monetization due to intellectual property rules.

Additional benefits, such as ad revenue sharing and YouTube Premium earnings, become available when you reach:

  • 1,000 subscribers and
  • Either 4,000 valid public watch hours in the past 12 months or 10 million valid public Shorts views in the last 90 days.

Once you’re part of the program, your income will grow as your channel expands. Earnings will vary based on factors like view count, audience location, and niche (e.g., personal finance creators often earn more). Consistency is key to making money from the YouTube Partner Program.

The Program may not be suitable for everyone due to YouTube’s stringent guidelines, which impose strikes on videos that breach these rules. This can be challenging, particularly for creators who wish to create content full-time while maintaining their unique style.

Creators often need to explore other monetization strategies if they choose to react to content or use copyrighted music in their videos. As a result, finding alternative income sources becomes essential.

5 alternative ways to make money on YouTube

Here are several methods YouTube creators use to earn income on the platform beyond the Partner Program.

Collaborating with brands

Brand deals are common in YouTube videos ("This video is sponsored by...") due to the mutually beneficial relationship between brands and creators. While audiences connect with people rather than brands, companies provide the funding, making collaboration crucial for the success of everyone involved in the creator economy.

The size of your audience is less important than your engagement rate and audience niche. This gives creators significant leverage—if your audience is small but highly engaged, you can command premium rates even with just 1,000 subscribers.

Your negotiating power begins with your media kit, a document that includes case studies of your previous work, audience metrics, and your rates. Providing detailed information can enhance your chances of securing brand partnerships.

For a simple guide to creating your media kit, follow this link. If you want to estimate potential earnings from brand deals based on your audience size, try using this calculator.

Gather fan-funded support

One advantage of creating engaging content is building audience loyalty, which many creators leverage through fan funding. This approach is especially popular among YouTubers who react to or comment on content, as they risk copyright strikes from using snippets of copyrighted material, often resulting in hours of editing with no financial gain.

Platforms like Patreon and Fanhouse allow creators to offer perks and exclusive content to subscribers for a recurring monthly fee. If you produce high-quality content, your audience may be willing to support you financially even without additional incentives. However, if you choose to offer extras, consider providing:

  • Behind-the-scenes content
  • Extended video clips
  • Digital downloads
  • Priority access to new content
  • Exclusive live streams or limited-edition merchandise

Adopt affiliate marketing

Affiliate marketing is a common revenue stream for YouTubers and can be pursued even if you’re not part of the YouTube Partner Program. It’s a popular method for creators, who frequently feature products or services in their videos.

By using affiliate links, you can earn money by recommending or mentioning a product to your audience, which you would likely do regardless.

The earnings from affiliate links can vary greatly depending on factors such as content type and affiliate commissions

Moreover, creators can earn substantially more revenue per thousand views from long-form videos than from short-form ones. This makes long-form content an appealing choice for those aiming to maximize earnings through ad revenue and affiliate marketing.

However, to maintain trust and ensure compliance with legal requirements, it's crucial to disclose any profit you make from recommending products to your audience. A brief note in the description box or comments section before or after your affiliate links will suffice.

Sell physical or digital products

Physical and digital products have become a significant revenue stream for many creators. YouTubers have explored various channels to sell products, ranging from branded items (like Feastables by Mr. Beast and Chamberlain Coffee by Emma Chamberlain) to templates on Etsy.

Offering merchandise can be crucial for creators looking to enhance their brand and deepen their connection with their audience, as it extends their presence beyond the digital realm. There are numerous options for what you can sell. Here are some ideas and examples of how YouTubers are utilizing them:

Merchandise

The concept of merchandise for creators has evolved with the expansion of available resources. While selling basic t-shirts remains effective, creators now explore various innovative approaches to offering merchandise.

Templates

Some creators opt to sell templates for advanced tools like Excel or Notion. They might even produce content demonstrating how they create these templates but still offer the pre-made versions for purchase, as many people prefer the convenience of ready-to-use products. For instance, Thomas Frank, who specializes in teaching Notion, showcased his Second Brain template in a video while also making it available for purchase.

Courses

For many YouTubers, sharing their knowledge through teaching is incredibly lucrative, whether it's offered for free or through paid courses. As creators focus on their areas of expertise and platforms like Kajabi and Teachable emerge, courses have become an increasingly popular way to generate income on YouTube.

Mix up your YouTube monetization approach

One of the advantages of creating content on YouTube is that a dedicated audience supports you throughout your journey. Thus, the focus should be less on how you monetize and more on the value you provide.

Experiment with various monetization options to determine which ones are most profitable for you and best suit your audience.