## Dreaming of turning your online hobby into a paycheck?
You’re not alone. Millions are flocking to platforms like YouTube and TikTok, hoping to build a following and, eventually, monetize their content. But the path to getting paid isn’t paved with likes and shares alone. It takes strategy, dedication, and a deep understanding of how these platforms work.
Digiday dives into the nitty-gritty details of what it actually takes to earn money on YouTube, TikTok, and other social media giants. From strict eligibility requirements to the evolving landscape of influencer marketing, we’ll break down the key factors that can make or break your monetization dreams.
The State of Creator Monetization on YouTube, TikTok, and Beyond
Understanding the Landscape
As the social media landscape continues to evolve, creator monetization has become a top priority for platforms and brands alike. However, there is a disconnect between creators and brands when it comes to monetization priorities. According to Keith Bendes, chief strategy officer at Linqia, “If you asked 10 creators what platform they prefer for monetizing outside of brand partnerships, you’d probably get at least nine (if not all) saying YouTube.” On the other hand, brands prefer platforms like Instagram and TikTok for creator partnerships.
This disconnect highlights the importance of diversifying revenue streams for creators. Building businesses on borrowed land requires a diversified approach to monetization. Creators know that relying on a single platform for revenue can be precarious, and they must explore multiple revenue streams to ensure long-term sustainability.
Creator Monetization Priorities
For creators, the top priority is finding platforms that offer a stable and lucrative revenue stream. YouTube’s Partner Program (YPP) is still the gold standard for creator monetization, offering a 50/50 split for creators who produce long-term content. However, other platforms like TikTok and Snapchat are catching up, offering alternative revenue streams for creators.
According to eMarketer, U.S. creators are expected to rake in over $15 billion from social media alone this year. This staggering figure highlights the importance of creator monetization and the need for platforms to evolve and improve their monetization models.
Revenue Streams and Priorities
Creators are no longer relying on a single revenue stream. They are diversifying their income by exploring alternative platforms, brand partnerships, and affiliate marketing. This shift in priorities is driven by the need for long-term sustainability and the desire to build a loyal audience.
For platforms, the priority is to attract and retain top creators. This means offering competitive revenue splits, innovative monetization models, and a seamless user experience. Brands are also prioritizing platforms with proven creator monetization models, such as Instagram and TikTok.
Platform Priorities
Platforms are evolving to meet the changing needs of creators and brands. Instagram and TikTok are leading the charge, offering innovative monetization models and a seamless user experience. YouTube, on the other hand, is refining its Partner Program to ensure that creators continue to thrive on the platform.
For brands, the priority is to find platforms that offer a strong creator monetization model. This means partnering with platforms that have a proven track record of delivering results for creators and brands alike.
YouTube: The Gold Standard
Established Monetization Model
YouTube’s Partner Program (YPP) is still the gold standard for creator monetization. Launched in May 2007, the program offers a 50/50 split for creators who produce long-term content. For those producing Shorts, 45% of the revenue goes to creators, while YouTube takes a 55% cut.
To be eligible for the YPP, creators must have at least 1,000 subscribers on their channel, plus 4,000 valid public watch hours in the last 12 months (on long-form content), or 10 million valid public Shorts views in the last 90 days.
Eligibility Requirements
The eligibility requirements for the YPP are designed to ensure that creators have a strong and engaged audience. Creators must meet the minimum subscriber and watch hour requirements to be eligible for the program.
Additionally, creators must comply with YouTube’s community guidelines and terms of service. This includes ensuring that their content is original, advertiser-friendly, and meets YouTube’s content policies.
Implications for Creators
The YPP provides a stable and lucrative revenue stream for creators. By offering a 50/50 split for creators who produce long-term content, YouTube is incentivizing creators to produce high-quality content that engages and retains their audience.
The program also provides creators with access to advanced analytics and insights, enabling them to refine their content strategy and optimize their earnings.
Snapchat: The Underdog
New Revenue Share Model
Snapchat is slowly winning creators’ attention with its updated monetization program. The platform recently unified its creator monetization programs under the Snapchat Monetization Program, offering creators a relatively lower lift to earn money.
While Snapchat hasn’t disclosed its revenue share split figures, the platform is providing creators with a new way to earn money from their content. Creators can earn dollars for eligible content within Stories as well as Spotlights that are longer than one minute.
Eligibility Requirements
To be eligible for the Snapchat Monetization Program, creators must be 18 years old or older, have at least 50,000 followers on their public profile, and have achieved one of the following within the last 28 days:
- 10 million Snap views
- 1 million Spotlight views
- 12,000 hours of viewing time
Creators are also expected to post at least 25 times per month to Saved Stories or Spotlight, post to either Spotlight or Public Stories on at least 10 of the last 28 days, and ensure the content they publish is original and advertiser-friendly.
Implications for Creators
Snapchat’s monetization program provides an alternative revenue stream for creators who already have a strong audience. The platform’s relatively lower lift to earn money makes it an attractive option for creators who want to connect with their audience more directly and earn money from it.
However, creators must meet the eligibility requirements and comply with Snapchat’s community guidelines and terms of service to be eligible for the program.
TikTok: The Platform with Options
Revenue Share Program
TikTok offers creators a revenue share program for producing high-quality content. The platform’s revenue share program is designed to incentivize creators to produce content that engages and retains their audience.
While TikTok hasn’t disclosed its revenue share split figures, the platform is providing creators with a new way to earn money from their content. Creators can earn dollars for eligible content, including videos that are longer than one minute.
Creator Rewards Program
TikTok’s updated creator rewards program provides additional revenue opportunities for top creators. The program is designed to incentivize creators to produce high-quality content that engages and retains their audience.
Top creators (those who produce content within the top 4% of all videos on TikTok) can take part in the program, earning dollars for eligible content.
Implications for Creators
TikTok’s monetization options provide creators with diverse revenue streams and opportunities for growth. The platform’s revenue share program and creator rewards program are designed to incentivize creators to produce high-quality content that engages and retains their audience.
However, creators must meet the eligibility requirements and comply with TikTok’s community guidelines and terms of service to be eligible for the programs.
The Future of Creator Monetization
Diversification and Innovation
The future of creator monetization will be shaped by a combination of technological advancements, platform evolution, and creator innovation. Creators must diversify their revenue streams and innovate to remain competitive.
Platforms must continue to evolve and improve their monetization models to attract and retain creators. This includes offering competitive revenue splits, innovative monetization models, and a seamless user experience.
Platform Evolution
Platforms are evolving to meet the changing needs of creators and brands. Instagram and TikTok are leading the charge, offering innovative monetization models and a seamless user experience.
YouTube, on the other hand, is refining its Partner Program to ensure that creators continue to thrive on the platform. Snapchat is slowly winning creators’ attention with its updated monetization program.
Implications for Creators and Brands
The future of creator monetization will be shaped by a combination of technological advancements, platform evolution, and creator innovation. Creators must diversify their revenue streams and innovate to remain competitive.
Brands must prioritize platforms with proven creator monetization models, such as Instagram and TikTok. This includes partnering with platforms that have a strong track record of delivering results for creators and brands alike.
Conclusion
In the article “What it takes to get paid by YouTube, TikTok and other social platforms”, Digiday delves into the intricacies of monetizing content on various social media platforms. The key takeaway is that success is not solely determined by the size of one’s following, but rather by a combination of factors such as engagement, content quality, and platform-specific requirements. The article highlights the need for creators to adapt to each platform’s unique algorithm and monetization strategies, whether it’s YouTube’s AdSense, TikTok’s Ad Revenue Sharing Program, or Instagram’s Branded Content Ads.
The significance of this topic lies in its implications for the future of digital content creation. As the social media landscape continues to evolve, creators must stay informed about the ever-changing monetization landscape to remain relevant and profitable. The article’s findings emphasize the importance of diversifying one’s content strategy and audience reach to maximize earnings. Moreover, the article’s insights into the varying requirements of each platform underscore the need for creators to be agile and flexible in their approach to monetization.