First, even if a YouTube channel does not have millions of subscribers, it can be monetized. Your earning potential is determined not only by the number of subscribers and views you receive, but also by the level of engagement you create, the niche you cater to, and the revenue channels you pursue. That is not to argue that the number of subscribers is unimportant.
Then, creating your own audience puts you in a great position to monetize your content in a variety of ways. However, you will only be able to fully capitalize on your opportunities if you understand the demographics of your target audience. Many YouTubers looking to monetize believe that the more niche their channel, the better position they will be into work with brands looking to target specific audiences (more on that later).
Your audience may be able to unlock the earning potential of your YouTube channel, similar to how to make money on Instagram or through blogging. However, it is easier to monetize when you generate multiple revenue streams, such as through side hustles or companies.
There are several ways to accomplish this.
- Become a YouTube Partner and earn money from ads.
- Sell products or merchandise.
- Crowdfund your next creative project.
- Let your audience support your work through “fan funding.”
- License your content to the media.
- Work with brands as an influencer or affiliate.
Among the several ways, no.1 is the most popular method to make a living on YouTube.