YouTube is announcing fresh ways to monetize and get revenue on the platform. After the successful launch of the Super Chat feature last year, YouTube decided to focus on providing more ways for its valuable creators to make money on YouTube.
New monetization on YouTube: Channel membership
This is a new feature that will be welcomed by creators. YouTube is rolling out a new channel membership feature that will be available for every eligible account with over 100,000 subscribers;
“With Channel Memberships, viewers pay a monthly recurring fee of $4.99 to get unique badges, new emoji, Members-only posts in the Community tab, and access to unique custom perks offered by creators, such as exclusive live-streams, extra videos, or shout-outs.”
According to YouTube, creators have already been experimenting with this update, and the results are positive. The traveling duo Simon and Martina have been using the Channel Memberships option to create a miniseries exclusively for their members.
Channels with this program will be able to earn revenue when their viewers purchase public badges, emoji, and access the creator perks offered by the channel via monthly recurring payments. Channels without it, because they don’t have 100,000 subscribers, have their work cut out for them. Start reading about ways to get more subscribers now to meet the 100,000 goal!
Channel Memberships instead of sponsorships
If you already had the “Sponsorships” feature on your YouTube profile, then this is the same thing. YouTube confirmed that this is actually the same feature and that only the name will be changing in the upcoming weeks.
According to YouTube, the “Sponsor” symbol, will soon be replaced with Channel Memberships;
“A select group of creators have been using channel memberships under the name sponsorships. We want more creators to continue to find different ways to earn money from sources other than ads. We believe that changing the name to memberships will make it more broadly appealing to both creators and viewers.”
YouTube announced that the name change was going to take place in late June or August 2018.
New monetization on YouTube: Merchandise
YouTube creators have been using YouTube to sell their merchandise for ages. Now, YouTube has revealed a more convenient way for creators to sell merchandise right from their channel.
From t-shirts to mugs, to posters; creators will have the chance to individually customize their merchandise. This update is already available for all eligible U.S.-based channels with over 10,000 subscribers, and YouTube plans to expand the tool to more creators around to globe soon.
If your channel doesn’t yet have 10,000 subscriber, spending a little bit on buying subscribers with well-reviewed sites can get you over that hump. You can start earning money faster as even small audiences can spend a bit if they’re dedicated.
New monetization on YouTube: Premieres
This update will vastly improve content uploading on YouTube. With “Premieres,” creators will have a new and better way to create content and upload it on the platform. Basically, with Premieres, creators will be able to debut pre-recorded videos as a live moment;
“When creators choose to release a premiere, we’ll automatically create a public landing page to build anticipation and hype up new content. When all fans show up to watch the premiere, they’ll be able to chat with each other (and with the creator!) in real time via live chat. It’s as if a creator’s entire community is one theater together watching their latest upload.”
The Premieres will also unlock new revenue streams. Creators will be able to use the Super Chat feature on traditional YouTube videos and also utilize the Channel Memberships (Sponsorships) perks that were previously only available on live videos.
This will be an excellent feature to use when you want to show an exciting new video to your fans and share the premiere moment together. Premieres have started rolling out to creators yesterday and will be available more broadly soon.
New ways to make money on YouTube
It looks like YouTube is taking its competition seriously. With Facebook and Instagram making efforts to compete with YouTube, it is up to YouTube to keep its status as the number one video-sharing platform. Their response couldn’t have been better:
- Channel Memberships for ongoing funding.
- Improved merchandise options for one-time purchases.
- Premieres to make money with the debut of each video.
All of these updates will be gladly accepted on the platform and will improve the overall user experience. Creators have been looking for more ways to make money on YouTube, and now they’ve got them. A good move by YouTube, indeed.
