“Creators should have as many ways and opportunities to make money as possible.”
YouTube has announced it’s going to start adding new ways of enticing their most prolific creators to help them make more money. How? By monetizing their work via merchandising and paid memberships. Until now, the YouTube community only made money through advertising.
Neal Mohan, Chief Product Officer of YouTube, claims that even though advertising is the main source of revenue for Youtubers, they want to think beyond ads. “Creators should have as many ways and opportunities to make money as possible,” he said.
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YouTube’s previous sponsorship program is being rebranded as paid memberships, giving viewers the opportunity to pay $4.99 a month so they can access member-only posts, badges and exclusive live streams. These perks are chosen by those creating the videos, who can market shoutouts, special emojis, and whatever they think might entice their viewers. Paid memberships, which will roll out in the coming months, will be available for creators that have over 100,000 subscribers.
The company has also partnered with Teespring, an e-commerce platform, that’ll give creators with over 10,000 subscribers the opportunity to sell their own merchandise, including t-shirts, phone cases, mugs and much more. While YouTube won’t take a cut from merchandise revenue, Teespring will charge a flat fee per product.
The last feature YouTube announced is called “premieres,” and it lets video creators hype up their content and schedule it for the future. According to Mashable, scheduling a premiere will allow YouTubers to have a landing page which viewers can see ahead of time. These viewers can join in and watch the video the moment it pops up and leave comments while watching.
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While YouTube has had tons of problems in the past regarding their policies or lack thereof, these new features are great news for the most prolific video creators, giving them reasons to stick around, even though Instagram and Facebook are becoming stronger homes for them.