The creator economy is booming into a multibillion-dollar market. But how are YouTubers making money?
In a recent report, SignalFire identified the top trends on how creators are making money on popular platforms like YouTube, Instagram, Snapchat, Twitch, TikTok, Substack, Patreon, and OnlyFans. Here’s the shortlist for the top trends:
Advertising revenue shares
Digital content sales
Live and virtual events
Below we breakdown details for the top trends on how YouTubers are making money:
YouTube has channel memberships. They allow viewers to join your channel through monthly payments and get members-only perks like badges, emoji and other goods. This feature unlocks once the channel has reached 1,000 subscribers.
Patreon is another popular membership subscription that YouTubers promote to their followers. This feature gives fans access to your exclusive content through monthly payments. YouTubers usually link their Patreon in their video or in the description box below.
Product Placement and Reviews
Product placement is a practice in which movies and television programs feature products to gain exposure. They are usually displayed in the background, or used by characters.
Product reviews are different from product placements. They are more popular with online influencers. Here, brands pay creators to do a hands-on review on the product.
Tipping and Shoutouts
The micropayment feature makes it easy for fans to tip their favorite creators. Some platforms like Twitch or YouTube, makes it easier for users to tip creators in one click. For example, YouTube’s Super Thanks feature is a way for creators to gain revenue from viewers during live streams. Paid shout-outs help other creators get exposure to gain more followers and subscribers.
These days people want to get that community feel back. People are starving for that kind of in-person connection again, like in the old pre-pandemic days. It is expected to have it rising back in popularity.
For VIP meetups, an example would be thousand dollar weekends. It’s a niche way for very popular influencers to gain money by spending time with their fans, such as private dinners, hangouts, events, parties etc.
The idea of creating something the world can appreciate is what drives most YouTubers to produce content. Despite its challenges, professional creators have already mastered the art of business on online platforms. Now they have an opportunity to get creative on how to capitalize on their passions.
Watch the clip below from our show Good Morning Marketers, where we discuss the trends for how YouTubers are making money.