YouTube has been a popular platform for content creation since its initial launch in 2005. In fact, data from Kite.ly shows us that 6% of influencers see the platform as their main source of revenue. In order to maintain a stronger relationship with these creators, YouTube has released a range of new revenue sourcing programs. As such, Netinfluencer will discuss all of Youtube’s new creator rewards and how you can access them.
What Is Made on YouTube?
In September 2022, the Vice President of Creator Products on YouTube, Amjad Hanif, released the latest aspect of the Made on YouTube program. This refers to a selection of creator tools and policies that aim to increase growth and engagement throughout the platform.
As part of the Made on YouTube event, key figures from the platform also announced a range of updates and allowed a few creators to share their success stories with fans and stakeholders. The event also discussed how YouTube is planning to support a new generation of entrepreneurs, adding more power to the worldwide creator economy.
How Can Creators Monetize Their Content?
With over 2 million eligible partners on the platform, YouTube has now released 10 new ways in which influencers can earn money from their content.
YouTube Advertising: The platform offers a wide selection of advertising capabilities from static ads to mid-roll clips that can be implemented throughout an influencer’s videos. Many creators have stated that they receive a large portion of their revenue through these advertisements.
YouTube Premium: As part of a paid subscription, members will be able to enjoy ad-free content that they can also download to their personal devices. A majority of the revenue made from this service is distributed to creators across the platform.
Super Chats: Devoted followers can send their favorite YouTubers a message for just a small fee. Super chats help to highlight your message and send it to the top of the creator’s live stream feed.
Super Stickers: In a similar vein to the former option, Super Stickers are small animated images that can be sent to a particular creator for a small cost. These messages will also be highlighted and sent to the top of the chat.
Super Thanks: This feature can be used to reward a creator on their videos, meaning that a viewer does not have to watch a live stream in order to participate. Super Thanks will also be highlighted in the comment section and the creator can respond to show gratitude.
Memberships: Channel members can pay a monthly subscription to receive exclusive perks from their favorite influencers. These memberships are often sold in tiers and the prices are usually set by the creator themselves.
Merch: YouTube’s Merch Shelf allows influencers to promote their branded merchandise through a collection of 30 global retailers. These items will also be showcased on the YouTube watch page.
Ticketing: For musicians on YouTube, you can provide a simple link to your latest concert information and enable fans to buy tickets directly from the platform.
YouTube BrandConnect: Also known as FameBit, YouTube BrandConnect links some of the largest brands in the world with the influencer that is best suited for their campaign. The program aims to offer more insight into the influencer marketing landscape.
Funds: To uplift previously marginalized creators, YouTube now offers various funds to offer support to lesser-known influencers. The platform is best known for its Black Voices Fund and Kids Fund.
Shorts and the YouTube Partner Program
One of the most promising announcements from the Made on YouTube event was that Short-focused creators can now apply to be a part of the YouTube Partner Program. These creators will now be asked to meet a minimum requirement of 1,000 subscribers as well as 10 million Shorts views across a 90-day period.
These influencers can also enjoy a vast array of exclusive benefits such as advertising and Fan Funding, which includes Paid Digital Goods such as Super Chats. The platform also states that Shorts creators will receive 45% of their overall earnings, which is said to help cover the cost of music licensing.
New Eligibility Requirements for the YouTube Partner Program
Although a majority of the eligibility requirements for the YouTube Partner Program will be remaining the same, the platform has teased a few changes for 2023. The platform wishes to increase the number of monetized creators by lowering the entry requirements and offering earlier access to benefits.
Accessible music has been a key issue on YouTube for many years with influencers struggling to overcome the plethora of copyright limitations attached to certain songs. Creator Music offers influencers a wealth of music that they can use in their videos or Shorts, without the risk of infringement.
This catalog of music can be found in your personal YouTube Studio and offers creators the chance to purchase a certain music license. This can help creators add an additional element to their videos without being demonetized.
For influencers who do not want to pay this fee, they will be able to use applicable songs and then share the revenue with the artist or record label. Creator Music is currently available in the US and in its beta phase. YouTube hopes that it will expand across more countries in the next year.
What Do These Changes Mean for Influencers on YouTube?
YouTube’s new collection of creator rewards highlights the platform’s desire to recruit more influencers and allow them to earn more money from their content. The reduced entry requirements for the YouTube Partner Program, particularly with regard to Shorts, signifies the platform’s shift toward short-form content. As such, smaller creators can share their content with a much wider audience and reap the benefits of this engagement.
The introduction of Creator Music has lessened the fear of channel strikes for many creators. Previously, YouTubers ran the risk of earning a ban if they used copyright music incorrectly in their videos. With access to a library of new music, creators can now produce higher-quality videos without breaking any Terms of Service. In addition, the revenue sharing feature of this tool now allows independent artists access to an additional revenue stream as well as a decent amount of attention.