Youtube's new monetization requirement is lowering barriers for monetization in 2024, especially for specific geolocations. Dive into this article to find out if your country qualifies.
Many creators, especially those in developing countries, are hesitant to start new YouTube channels, especially since YouTube has been around for a while and it seems that larger creators have dominated the majority of Youtube search traffic.
However, in this article, we will discuss why starting a YouTube channel in 2024 remains a highly lucrative opportunity, as well as some new YouTube monetization changes that make starting a channel more appealing.
We'll also talk about how to become a Youtube partner and how to start earning money from your YouTube content as quickly as possible.
The short answer to the question is Yes.
Did you know that YouTube is the world's second most popular search engine, following closely behind Google?
According to StatCounter, YouTube currently has a global search engine market share of 18.7%, while Google reigns supreme with 92.3%.
YouTube is also the second most popular website in the world, with over 2 billion active users.
This means that there is a huge audience of potential viewers for your videos on Youtube making it a great platform for sharing your knowledge and expertise with the world.
You can create videos about any topic that you are passionate about, from cooking to gaming to business.
But most importantly, YouTube can be a lucrative way to make money.
So beyond simply being a platform for videos, YouTube offers creators a golden opportunity in its video monetization.
Simply put, YouTube monetization is the art of turning your uploaded videos on Youtube into income.
It's a system designed to empower creators by enabling them to earn money through various means.
Creators on YouTube can become part of the YouTube Partner Program (YPP) to gain access to a range of monetization features, which include:
As YouTube is a video search engine, creators on YouTube have the opportunity to earn revenue through ads displayed alongside their videos as YouTube shares a portion of this ad revenue with the creator.
Creators can also monetize their Youtube channel by offering paid memberships to their loyal fanbase.
Members gain access to exclusive content, unique features, and special perks.
Super chats are featured mainly during live streams.
Some fans during the live streams will have the option to pay to have their comments prominently displayed in real time, allowing them to stand out.
With this YouTube monetization feature, Fans are allowed to purchase stickers for use during live streams, and you can earn money as a creator when fans utilize these stickers.
This option allows fans to accumulate and redeem channel points for rewards, and creators earn income when fans redeem their channel points.
In addition to these monetization features, YouTube provides creators with opportunities to collaborate with brands for sponsored content campaigns.
You can also sell your merchandise directly through your YouTube channels.
YouTube offers creators a diverse set of tools to monetize their content, and the most suitable approach for you as a creator will depend on your specific audience and the nature of your content.
Join the team at Yoola. Get a free channel review to discuss the best ways to monetize your Youtube channel
To join the YouTube Partner Program (YPP) and begin monetizing your content, you need to meet some eligibility requirements, which include:
You can review the list of eligible countries and recently added regions below,
or you can click here to access the list of countries that qualify for the program
Community Guidelines strikes are issued when your videos violate YouTube's policies.
You can learn more about Community Guidelines strikes here.
2-Step Verification helps to protect your account from unauthorized access.
You can learn more about 2-Step Verification here.
Advanced features are available to channels that have reached 1,000 subscribers and 4,000 watch hours in the past 12 months.
AdSense is a Google service that allows you to earn money from your videos.
You can learn more about AdSense here.
Overwhelmed by the YPP steps? Simply join the team at Yoola, to help you set up monetization for your youtube channel.
YouTube has recently made it simpler for creators in specific countries to monetize their channels and become part of the YouTube Partner Program (YPP), as part of their efforts to facilitate content monetization in emerging markets.
In the past, eligibility for the Youtube Partner Program required creators to have 1,000 subscribers and accumulate 4,000 watch hours within the previous 12 months.
However, the eligibility criteria have now been adjusted, allowing creators in the following countries to join the Youtube Partner Program with just 500 subscribers and 1,000 watch hours:
This represents a significant reduction in the monetization requirements and is expected to make it considerably easier for you to begin generating income from your YouTube channel.
In addition to the lowered eligibility criteria, YouTube is also expanding the array of monetization features accessible to creators in these regions.
For instance, creators in the countries listed can also earn money through Channel Memberships, Super Chat, and Super Stickers.
This progressive move by YouTube was designed to create more opportunities for creators in emerging markets, marking a positive step forward for the platform.
Related: Changes To Youtube Partner Program Terms
YouTube Shorts is the short-form video platform of Youtube, that allows users to create and share videos that are under 60 seconds.
Shorts is similar to TikTok and Instagram Reels in many ways, but it has a few unique features, such as the ability to sample music from YouTube's library
and the ability to add captions to your videos automatically.
The YouTube Shorts algorithm is designed to recommend Shorts videos to users based on their interests and viewing history. The algorithm also considers a number of factors, including:
In addition to these factors, the YouTube Shorts algorithm also takes into account the following signals:
Youtube Shorts can be a very effective monetization strategy and a quick way to generate subscribers for your channel.
Creators can utilize analytics to assess key metrics, aiding in the comprehension and prediction of a specific short video's potential success and effectiveness in generating revenue.
At Yoola, we focus on two primary metrics:
1. The number of individual users who opt to view a YouTube shorts video or “How many chose to view” (Video Analytics > Reach), and
2. Audience retention (Video Analytics > Engagement).
YouTube employs these metrics to determine whether to recommend the video to a wider audience.
Creators can also analyze these metrics to enhance their content's performance.
As a general guideline, Yoola aims to achieve the following metrics:
1. Increase the percentage of individual users choosing to view a video to more than 70-80%.
Regarding audience retention, the rates vary based on video duration, but our typical benchmarks include:
2. An average view duration of 20+ seconds.
3. An average percentage viewed ranging from 80%- 100% and more.
The Yoola team actively assists creators in improving these metrics and offers consultations on launching, growing and monetizing your YouTube short videos.
If you are looking for more ways to monetize your Youtube channel, we’ve collated a list of other options which include:
Affiliate marketing is one method to monetize your youtube channel where you promote products or services in your videos and provide special tracking links within your video description.
When your viewers click on these links and make a purchase, you earn a commission from the sale.
Here's how to go about it:
Find affiliate programs that align with your channel's niche, audience or content.
Popular platforms for affiliate marketing include Amazon Associates, ShareASale, Selar and ClickBank.
Create compelling content that naturally incorporates the affiliate products or services.
Explain their benefits and why your viewers might find them valuable.
It's essential to disclose that you're using affiliate links and that you may earn a commission if viewers make a purchase through them.
Being transparent helps you build trust with your audience.
Affiliate marketing is lucrative if you have a loyal and engaged audience interested in the products or services you're promoting.
If you have a dedicated fan base, selling merchandise can be a profitable avenue.
Here's how to go about it:
Create custom merchandise such as t-shirts, mugs, or even digital products that resonate with your brand and audience.
You can use platforms like Shopify, or even integrate a merchandise shelf on your YouTube channel through the YouTube Merchandise Shelf feature.
Showcase your merchandise in your videos, social media, and on your YouTube channel's page.
Highlight the uniqueness and value of your products to encourage sales.
Selling merchandise allows you to leverage your brand and connect with your audience in a tangible way while generating income.
Paid sponsorships involve partnering with companies or brands to feature their products or services in your videos.
Here's how to go about it:
Seek out companies that align with your channel's content and values.
Make sure their products or services would be of genuine interest to your audience.
Contact potential sponsors through email or professional networks and propose a collaboration.
Be clear about what you can offer, such as exposure to your audience.
If a company agrees to the sponsorship, create content that seamlessly integrates their products or services while providing value to your viewers.
Paid sponsorships can provide a significant source of income, especially if you have a substantial and engaged subscriber base.
YouTube BrandConnect is a platform that connects creators with brands for partnership opportunities.
Here's how you can use it:
Creators who meet specific criteria, such as a minimum subscriber count and engagement metrics, can apply to join YouTube BrandConnect.
YouTube BrandConnect matches you with brands seeking to collaborate on branded content campaigns.
You can work with these brands to create sponsored content that aligns with both parties' goals and fits organically within their channel's content.
YouTube BrandConnect streamlines the process of finding sponsorship opportunities and can be a valuable source of income for eligible creators.
If you’re having trouble optimizing your channel for more revenue and figuring out the best monetization strategy. Join the team at Yoola here to get started.
Starting content creation on youtube from scratch?
In the table below, we explore the revenue streams and growth projections for various YouTube niches in 2023 and 2024.
Let's dive in and uncover the exciting prospects that YouTube holds for you as a content creator.
It is important to note that, although music is a popular YouTube channel niche, it can be difficult to monetize.
Music channels often resort to generating revenue from ads, sponsorships, and merchandise sales.
They may also need to pay royalties to the artists whose music they feature in their videos.
However, whether you're passionate about gaming, comedy, music, or any other niche, the figures above illuminate the extraordinary opportunities that await those who embark on their YouTube journey in the coming years.
In conclusion, the world of YouTube content creation in 2024 is more promising than ever before.
And as YouTube continues to evolve, so does its monetization opportunities.
YouTube is a platform where your creativity can thrive and your earnings can soar.
Dive into the diverse niches we explored above, identify which is best for your goals and embark on your YouTube journey.
At Yoola, we understand the intricacies of YouTube monetization, appealing unfair monetization restrictions and the need for multiple revenue streams.
And our team is here to guide you through the process by working with you to simplify your eligibility criteria and expand your monetization features,
YouTube is a platform where your creativity can thrive and your earnings can soar.
