Unveiling YouTube’s Biggest Monetization Update 2023 and How YouTubers Are Making Money in 2023?
YouTube, has recently rolled out a new monetization update, creating a buzz among video creators and micro-influencers.
This update will dramatically change how creators make money from their content, providing them with more options and adaptability.
In a significant move aimed at empowering smaller content creators, YouTube has lowered the requirements for its Partner Program. This means more people can make money from their videos.
The YPP update changes are currently being rolled out to a select few countries. These changes are set to redefine how creators earn from the platform.
This development is a game-changer for creators with smaller audiences, as it provides them with more opportunities to earn from their content.
This development is a game-changer for creators with smaller audiences. It provides them with more opportunities to earn from their content
This article will provide a comprehensive overview of these announcements, a detailed exploration of how YouTubers make money today, and valuable advice for capitalizing on these updates.
Earlier Access to the YouTube Partner Program
YouTube has recently introduced changes to its Partner Program, offering creators earlier access with lower eligibility criteria.
This move is designed to help creators build deeper connections with their viewers and begin monetizing their content earlier.
Let’s discover how these new changes and how you can take advantage of them.
Lower Eligibility Criteria
The new changes to the YouTube Partner Program have lowered the eligibility criteria, making it easier for creators to join. The new requirements are:
Subscriber Requirements
You will need to have at least 500 subscribers to your channel.
Upload Requirements
You must have at least three valid public uploads in the last 90 days.
Watch Hour and View Requirements
You must have either 3,000 valid public watch hours on long-form video in the past year or 3,000,000 valid public Shorts views in the last 90 days.
Benefits of Early Access
Early access to the YouTube Partner Program comes with several benefits:
Promoting Own Products with YouTube Shopping
Eligible creators can promote their own products using YouTube Shopping, providing a new avenue for revenue.
Access to Fan Funding Features
Creators will gain access to fan funding features, including Super Thanks, Super Chat, Super Stickers, and Channel Memberships.
Access to YouTube Creator Support
Creators will also get access to YouTube Creator Support, providing them with valuable resources and assistance.
YouTube’s Monetization Policy: What’s New?
In an effort to make monetization more accessible, YouTube has expanded its YouTube Partner Program (YPP) to include earlier access for creators. As of June 13th, 2023, creators can qualify for fan funding if they meet the following criteria:
- 500 subscribers
- 3 valid public uploads within the last 90 days
- Either 3,000 public watch hours within the last year or 3M public Shorts views in the last 90 days
Lower Requirements for Channel Monetization
YouTube has reduced the requirements to monetize a channel. Previously, creators needed at least a thousand subscribers.
Now, you need only 500. Furthermore, the watch hour requirement has also been reduced from 4,000 to 3,000, and the threshold for views has come down from 10 million to 3 million short views in the past 90 days.
This means that more creators can now start earning from their content sooner.
Impact on Small Creators
This groundbreaking update marks the first time in five years that YouTube has changed these requirements.
The changes aim to empower small creators by enabling monetization sooner, offering a fantastic opportunity for them to start earning money more quickly.
Geographic Limitations and Eligibility
However, this program has not yet been rolled out globally. Initially, it is being launched only in Canada, the UK, Taiwan, and South Korea, with no current timeline for its introduction in other countries like India.
But it is expected that over the next three to twelve months, YouTube plans to extend these changes to all countries.
The rollout is expected to be gradual, with YouTube announcing additional countries every few months.
Moreover, this lowered eligibility threshold does not apply to all monetization features.
How to check Youtube Partner Program Eligibility?
The official YPP (YouTube Partner Program) page has not been updated yet and still displays the previous eligibility criteria of 4000 watch hours and 1000 subscribers, there is no need to be concerned.
Simply navigate to the YouTube Creator Studio, click on the “Earn” section, and check your eligibility status there.
The New Monetization Requirements June 2023
The new monetization requirements include having 500 subscribers, three public video uploads in the last 90 days, and either 3,000 watch hours or three million (3M) YouTube Shorts views.
Creators can track their progress toward these requirements on the Earn page of YouTube Studio.
Access to Multiple Monetization Features
Once a creator meets these lowered requirements, they gain access to five different forms of monetization. These include Super Chats, Super Stickers, and Super Thanks in their videos.
Additionally, they can also utilize YouTube Channel Memberships and YouTube Shopping to sell their own products directly to their audience.
It’s important to note that these requirements still need to be met within a 12-month period. Also, to access other monetization features, including YouTube ad revenue, creators will still need to reach the original threshold of 1,000 subscribers and 4,000 hours of watch time.
However, the 500 subscribers and 3,000 hours of watch time count towards these totals.
Changes for YouTube Shorts Creators
The new monetization update also impacts YouTube Shorts creators. Previously, they needed to achieve 10 million views within a 90-day period and reach the 1,000 subscriber threshold.
Now, they only need 3 million views and 500 subscribers. They must also have published at least three videos within the last 90 days.
Upon meeting these requirements, Shorts creators become eligible for the YouTube Fan Funding tier.
This gives them access to the same five monetization features mentioned earlier. They can later qualify for YouTube ad revenue, YouTube premium revenue, and other monetization features without having to apply a second time to the YouTube Partner Program.
Emphasis on Fan Funding Tools
With the new policy, YouTube is placing more emphasis on fan funding tools such as memberships, Super Chats, Super Stickers, Super Thanks, and Shopping.
These features are immediately unlocked once the new requirements are met, providing creators with additional revenue streams.
The Continuation of Ad Revenue
Despite the new changes, ad revenue remains a significant part of YouTube’s monetization strategy.
Creators can start earning revenue from watch page ads once they meet the existing requirements of 1,000 subscribers and 4,000 hours of watch time or 10 million YouTube Shorts views.
The Importance of the Earn Page
The Earn page on YouTube Studio is set to become one of the most important pages for creators. It provides a wealth of information on monetization and tracks progress toward meeting the requirements.
However, creators are advised to pay attention to more than just the progress bars. The page contains valuable information that can help creators understand and optimize their monetization strategy.
Preparation for Monetization
Before applying for monetization, it’s recommended that creators set up and link their YouTube AdSense account to their channel.
This can make the application process easier and smoother. Once eligible, creators can apply to enter the YouTube Partner Program.
Current Earnings Landscape for YouTubers
Primary Earnings Source: YouTube Ads
According to a survey of over 10,000 YouTubers earning a total monthly revenue of $500,000, about 77% of them earn money primarily from YouTube Ads.
On average, about 56 out of 100 people are earning from ads, averaging approximately $11.34
The Importance of Multiple Revenue Streams
Relying solely on ad revenue may not always be the best strategy. Successful businesses typically have multiple sources of revenue.
Diversification provides more stability and, in the case of YouTube, can significantly increase income.
Exploring Other Revenue Avenues
Sponsored Content and Brand Collaborations
Benefits of Sponsored Content
Sponsored content and brand collaborations offer a lucrative income source. These partnerships allow YouTubers to create engaging content that benefits both the creator and the sponsoring brand.
Successful Strategies for Brand Collaborations
Successful brand collaborations require a clear understanding of the audience, creative content that aligns with the brand’s values, and transparency about the sponsorship to maintain audience trust.
Affiliate Marketing
One of the most effective alternatives to ad revenue is affiliate marketing. The survey revealed that about 9% of YouTubers earn their primary income from affiliate marketing.
Many channels offer product reviews and then provide an affiliate link in their description. This strategy can be highly profitable.
Merchandise Sales
The Potential of Merchandise Sales
Merchandise sales offer another income source for YouTubers.
By creating unique branded products, YouTubers can strengthen their brand identity and turn loyal subscribers into customers or you must have seen many YouTubers selling there own courses and digital products.
Steps to Launch Your Own Merchandise Line
Launching a merchandise line involves understanding your audience, designing products that resonate with them, and setting up an online store.
It’s also crucial to promote the merchandise effectively through your videos.
Youtube Premium
YouTube Premium allows creators to replace YouTube ads with ad-free viewing to generate an additional source of revenue. YouTube Premium viewers do not see any advertisements.
From a creator’s perspective, YouTube Premium can indirectly contribute to their earnings.
A portion of the YouTube Premium subscription fee is distributed to creators based on how much members watch their content.
Therefore, creating engaging, high-quality content that keeps viewers hooked can increase a creator’s share of the YouTube Premium pie.
Crowdfunding
The Role of Crowdfunding in YouTube Monetization
Crowdfunding platforms like Patreon and Kickstarter allow YouTubers to secure ongoing support from their dedicated fan base.
This support often translates into a stable income source that allows creators to continue producing content.
How to Use Platforms like Patreon and Kickstarter
Successful crowdfunding involves offering exclusive perks and benefits to supporters. This fosters a sense of community and encourages fans to contribute to the creator.
Monetization Guidelines and Community Standards
While this update presents exciting monetization opportunities, it’s crucial for creators to adhere to YouTube’s community guidelines and Google AdSense program policies.
These policies apply to anyone in, or looking to apply to, the YouTube Partner Program. They include YouTube’s Community Guidelines, Terms of Service, Copyright, Rights Clearance Adjustment policies, and Google AdSense program policies.
FAQs on YouTube’s Monetization Policy 2023
When will the new monetization policy be implemented in all countries?
The new policy is currently being rolled out in a phased manner. It is expected to be implemented in all countries over the next three to twelve months.
What are the new monetization requirements?
The new requirements include having 500 subscribers, three public video uploads in the last 90 days, and either 3,000 watch hours or three million YouTube Shorts views.
What are the old requirements for earning ad revenue?
To earn ad revenue, creators need to meet the existing requirements of 1,000 subscribers and 4,000 hours of watch time or 10 million YouTube Shorts views.
What are the fan funding tools that YouTube is emphasizing?
YouTube is placing more emphasis on fan funding tools such as memberships, Super Chats, Super Stickers, Super Thanks, and Shopping.
How can creators track their progress toward meeting the requirements?
Creators can track their progress on the Earn page of YouTube Studio.
Conclusion
YouTube’s new monetization update is a significant step towards empowering smaller creators. By lowering the requirements for the Partner Program, more creators can now start earning from their content and grow their channels.
As more creators gain access to these monetization features, they can explore new strategies to increase their revenue and make the most of their content.
