YouTube has recently launched 3 monetization tools to help channel creators give rise to greater revenue in areas beyond advertisements. For creators, monetization in other forms carries significant importance as ad revenue is subject to many factors and is not always guaranteed.
Recently YouTube has tightened up their monetization requirements for content creators. This aims to prevent the uneasiness of advertisers following things like the Logan Paul controversy, which is why YouTube have been looking to create other sources of revenue for their creators.
Users can access exclusive content from creators through a new subscription feature. A fee of £4.99 (differing by country) will be charged in exchange for users to have free access to interesting perks offered by the creators. These perks could include things like exclusive videos, badges, early access to videos, custom emojis and badges for live chats etc. This option will be available to channels with more than 10,000 subscribers.
YouTube have also partnered up with TeeSpring to offer a merchandise ‘shelf’ below videos to help them sell associated products. YouTube said that it wanted it’s creators to be able to easily showcase their merchandise and that’s what they’ve done. From a logo on a shirt or cushion to phone cases or stickers, creators can now publicise and market their products easily on YouTube. However, this is only available to YouTube users who have a more than 10,000 subscribers, but plans have been made to expand it further in the future. Previously, creators could only post a link of their merchandise in the description of their videos but now because viewers will be able to see it, it will help creators to sell more products and increase revenue.
A live-streaming option creates a live experience where users can go live without using an encoder which can be a relatively complicated process. They are able to go live from their webcam. Anybody who wants to stream can click on the button saying ‘Go live' and there you go! Revenue can be generated in a livestream by enabling ads on your stream and also SuperChat donations from viewers!
YouTube aims to further it’s monetization plans in the future. It’s very interesting to see social platforms improving and working on new and easy monetization methods for their users. Recently, Facebook and Instagram have also rolled out new features.
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