YouTube is completely FREE to upload and watch.
Among many other online platforms, YouTube is an extremely useful platform that enables its users to monetize their videos and start earning through advertisement revenues, but it does not charge its users a single penny for this service. Adding to the list of features, is the compatibility of YouTube with all sorts of devices and operating systems. Be it old or new, expensive or low to medium priced devices, Windows, Android, iOS, or even Linux, YouTube works everywhere. And due to this convenience of usage, along with the monetary benefits, YouTube has such a large user base as featured on the following graph.
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Earning Potential for General Public
In addition, YouTube also allows paid partnerships with brands, product placements and other types of endorsements. In simple words, if one wants to launch a product or has a startup idea in mind, they can use YouTube to pitch it, which in turn might become a good source of income. This feature of YouTube makes it a primary choice for many corporates and even academic institutions. Recently, the official YouTube account of Samsung uploaded a video to introduce their new Galaxy S10. This video will not just benefit the company (sellers) and the customers, but will also be beneficial for technological experts like UrAvgConsumer, who will review this video and share their opinions about the product on YouTube for people to use as reference while making a purchase decision. This way, people on various levels and industries are making a living out of YouTube. Schools and post-secondary institutions are often seen using YouTube to upload or have their students individually post videos for competitions. For example, a contest held by the Ontario government for school going students encourages them to upload videos explaining safety on job. Click here to view the contest. These were the ways as to how the general public can earn using YouTube.
How YouTube Earns?
How does YouTube earn its revenues, given the fact that it does not ask the public for any money?
YouTube actually earns through advertisements. It sells its humongous user base to companies, who in turn pay YouTube to advertise on their videos. And YouTube just shares a percentage of this payment with the uploader of the video. In addition, there is another version of YouTube. It is the premium edition, called YouTube Red that earns through its subscriptions. YouTube Red offers special benefits to its premium users by asking for a small membership fee.
Citations:
Dutta, A. (2017, November 21). YouTube Business Model | How does YouTube make money? Retrieved from https://www.feedough.com/youtube-business-model-how-does-youtube-make-money/
Feldman, S., & Richter, F. (2019, February 21). Infographic: Where Online Content Creators Make Money. Retrieved from https://www.statista.com/chart/17114/online-content-creation-earnings/
Samsung. (2019, February 20). Galaxy S10: Official Introduction. Retrieved from https://www.youtube.com/watch?v=ZCfgkIyD9g0
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