YouTube has become one of the most popular social platforms in 2024 and everyone is looking for the best way to monetize YouTube channel. But how do you do that? That’s what we will be looking at in our article.

First, we will share some critical information on YouTube channel monetization, such as what it is and what the newest requirements are. Once we know you have all the correct information, we will go over the best way to monetize your YouTube channel.

What is YouTube Monetization?

YouTube monetization is about earning money from the videos you upload. It works by allowing ads to appear before or during your videos. YouTube pays its creators a share of the ad revenue generated by these ads. To be eligible, you must meet certain requirements regarding subscribers and watch time.

Once eligible, you can apply for monetization through the YouTube Partner Program. If approved, you can start earning. It's essential to follow YouTube's guidelines to ensure eligibility. Creating quality content that complies with their rules increases your chances of approval.

Monetization is a way to earn income from your YouTube channel, especially with a large and engaged audience.

The Requirements for YouTube Monetization

Before 2023, the requirements for YouTube monetization used to be much higher. But YouTube has lowered the requirement standards by a lot. Now, the requirements are:

●     500 subscribers

●     Three videos published publicly in the last 90 days

●     Either have 3,000 watch hours in the past 12 months OR 3 million plus YouTube Shorts views in the past 90 days.

Best Way to Monetize YouTube Channel

Now that you know if you are eligible for YouTube monetization, you can meet the requirements and start making money on this platform. There are many ways to monetize your YouTube channel, but which is the best way? Let’s answer this question.

YouTube Ads

When it comes to finding the best way to monetize YouTube channels, one method is always a solid choice: YouTube AdSense.

Once you meet the monetization requirement, you will turn on the YouTube ads setting and start setting it up. But keep in mind that your videos have to continue meeting YouTube video guidelines for the ads to show.

There are many formats for ads available, so place your ads how you want.

Affiliates Marketing

Aside from ads, there is another contender for the best way to monetize YouTube channels, which are affiliate links. But how does it work? It's quite easy.

Whenever you join an affiliate program, like Amazon, you will get affiliate links. When your viewers use your affiliate links to purchase an item, you will get a commission. This method isn’t as lucrative as ads, but you can still make a good income from it.

Channel Membership

YouTube channel memberships are like a club where people pay every month for special benefits. For example, creators might offer discounts on products, private chats, or special videos just for members.

To see if a channel offers memberships, look for a "join" button next to the usual "subscribe" button on the channel's main YouTube page.

Creators get to choose how much they want to charge for memberships. But they can only do this if they have at least 1,000 subscribers on their channel.

Patronage

YouTube channels with a really loyal fanbase can earn money from a third-party platform. Currently, the most popular third-party platform is Patreon. Creators can charge a monthly fee by offering interesting things such as behind-the-scenes footage, early access, and such. Pateron allows channels to offer multiple levels of membership levels with some being as cheap as $5.

Merchandise

Recently, YouTube has allowed channels with more than 10,000 subscribers to sell unique merchandise related to their channels. If you have a really loyal brand community, this is the best way to monetize your YouTube channel.

We have found that this method is really popular with channels that don’t have their own website to promote these merchandise.

Paid Sponsorships

Out of all our methods, paid sponsorship is the best way to monetize YouTube channels because you can earn quite a bit with this method. In simple terms, paid sponsorship is where a business pays a channel to promote its product or service in its videos. While it might be one of the most lucrative methods to earn money on YouTube, it's also one of the hardest. Only channels with a really big and strong community get offered these sponsorships.

Super Features

Channels that hold live streams a ton might find this method to be the best way to monetize YouTube channels. YouTube allows live streamers to enable super features that let the viewers feature their comments and stickers or directly donate to their favorite content creator. These features cost viewers anywhere from $1 to $500.

YouTube Shorts Fund

In May 2021, YouTube introduced a $100 million fund specifically for Shorts creators. This fund is set to be distributed monthly throughout 2021 and 2022.

This initiative means that every month, YouTubers have the opportunity to earn anywhere from $100 to $10,000 based on the engagement and views of their Shorts videos.

Importantly, eligibility for this fund is refreshed monthly. So, if a creator doesn't qualify in one month, they may qualify in the next, or vice versa.

One significant advantage is that creators don't need to be part of the YouTube Partner Program (YPP) to receive funds from the YouTube Shorts Fund. This is a major benefit for creators who don't meet the YPP program's requirements.

However, creators still need to meet specific eligibility criteria to qualify for a YouTube Shorts Bonus.

Conclusion

If you were looking for the best way to monetize your YouTube channel, we just shared some of the best methods available. YouTube has become the best place for video creators to really show themselves off. But if you are looking to make a living out of it, then you need to figure out which is the best way you can do so.

We hope our explanation of these methods helped you make a good decision. If you are interested in YouTube SMM services that help with monetizing your channels check out our services.

FAQs

Q.1 Can I monetize my YouTube channel from the beginning?

No, only after you meet the eligibility requirements then you can enable monetization.

Q.2 How do I know which monetization method is best for my channel?

Try out different methods and see their effectiveness based on your audience's response and your content niche.

Q.3 Is it necessary to have millions of subscribers to earn money on YouTube?

No, even creators with smaller but highly engaged audiences can generate significant income through various monetization strategies.

Q.4 What if my content doesn't fit traditional monetization methods like ads or sponsorships?

Get creative! Explore alternative methods like merchandise sales, affiliate marketing, or crowdfunding.

Q.5 How often should I reassess my monetization strategies?

Regularly review your performance metrics and adapt your strategies accordingly to stay relevant and maximize revenue potential.