The top YouTube channels earn their owners tens of millions of pounds a year. But with 113.9 million active channels pumping out more than 500 hours of content onto the platform every minute, how much do the rest of them actually make?
Coming up with creative ideas for videos, talking about subjects you’re interested in, and having the potential to become a celebrity – there are plenty of things that make being a YouTuber appealing.
But a quick warning first – while some people have made millions on the platform, a lot of people don’t. A study by university professor Mathias Bärtl revealed that 96.5% of YouTubers make less than $12,140 a year (the equivalent of £9,532.21). That’s less than the basic state pension pays in the UK.
So before you reach for your camera, we’ve gathered information on how much you can really earn from being a YouTuber in 2024. From how many subscribers you need before you start earning before YouTube starts paying you to the alternative ways to drive income on the platform.
In this article, we cover:
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How much does YouTube pay?
How much you earn through YouTube’s Partner Programme is dependent on how popular your content is. Once you meet the criteria for the programme (as outlined below), you’ll get paid per 1,000 views. So, more views, more money.
There are also other ways to earn money indirectly from the platform, such as through affiliate marketing and being an influencer. A list of possible revenue drivers has been listed in the final section of this article.
How much does YouTube pay for one million views?
You can expect to earn £2.50 – £4.10 per 1,000 views that you receive on YouTube. However, if you have a popular account, that rises so you could be earning closer to £6 or £7 for every 1,000 views.
The difference here makes it difficult to pinpoint how much any account would receive for a million views, but, judging from the maths, it could be anywhere from £2,500 – £7,000.
How many subscribers do I need on YouTube to make money?
The YouTube Partner Programme is a way that you can earn money directly from the platform. It means that whenever an ad is played on one of your videos, you’ll get a cut of the money that YouTube has earned from that ad.
Creators can monetize their YouTube channel through the YouTube Partner Programme when they reach either of the below eligibility thresholds:
- 1,000 subscribers and 4,000 valid watch hours in the past 12 months
- 1,000 subscribers with 10 million valid public Shorts views within the past 90 days
You can even ask YouTube to notify you when you become eligible, read more on this here.
How much do the highest-paid YouTubers make?
It can be incredibly inspiring to learn about how much it’s possible to make as a YouTuber.
In 2023, the YouTuber Mr. Beast (Jimmy Donaldson) ranked first as the top-earning YouTuber worldwide. His earnings have been estimated at approximately $82 million dollars (the equivalent of £64 million).
The comedic duo Rhett & Link ranked second. It has been estimated that they earned $35 million (the equivalent of £27 million) during the last measured year.
Fourth-ranked is 12-year-old Ryan Kaji, who goes by Ryan on his YouTube channel and also earned $35 million.
How can I make money from YouTube?
There are various different ways that you can earn money on YouTube, both directly from the platform and indirectly.
Here are some of the different ways that you can make money:
- Join the YouTube Partner Programme: the most well-known way to earn money through YouTube. As previously mentioned, the criteria to join the programme were lowered in June 2023. The programme can allow you to receive a cut from any revenue YouTube gets from ads that play on your videos
- Through affiliate marketing: talking about products in a YouTube video and including affiliate links in the description could earn you money. It means that when someone clicks on the link and buys a product you’re talking about, you’ll receive a commission. The Amazon Affiliate Programme is a popular choice and a good place to start
- Work with brands as an influencer: get paid by brands to endorse their products. This could consist of product shout-outs and perhaps even a whole section where you talk about a product. There are various websites that can help connect you to interested brands, such as SoSquared
- Your audience can support you through ‘fan funding’: if the content you’re producing is popular, there may be people who want to support it financially. One way they can do this is through YouTube’s Super Chat and Super Stickers, which allow users to donate money to their favourite creators by purchasing highlighted chat messages and animated stickers. Similarly, you can earn money from viewers sending you Super Thanks to show their gratitude for your videos. Another option is creating a channel membership, which is where viewers pay monthly to support your channel in exchange for member-only perks
- Create and sell your own merchandise: this could get your YouTube brand better known and earn you money. There are many YouTubers who do this. For example, the Irish YouTuber Seán William McLoughlin, who’s YouTube page is called jacksepticeye. He sells his own merchandise through jacksepticeyemerch.net. You could also use YouTube Shopping to promote the products
- License your content to the media: if you create a viral video, you could license your content in exchange for money. These days, the likes of online news sites are often looking to find viral videos to talk about and write about. You could also list your video in a marketplace, such as Jukin Licensing. This would make it easier for your video to be found and purchased
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Source How much do YouTubers really earn in 2024? – Times Money Mentor
