By now, you hopefully know that having a dedicated YouTube channel for your business is a key way to develop brand awareness, increase your rank in Search Engine Results Pages (SERP) and drive sales.
However, another important aspect you should be aware of is that you can also earn money through your YouTube videos, specifically YouTube Shorts. However, in order to do so, you must do two things. The first is officially enrolling in the YouTube Partner Program (if you haven’t already done so). The second is to accept their new terms and conditions by July 10, 2023.
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What Is YouTube’s Partner Program?
The YouTube Partner Program (YPP) allows you to monetize your videos. Note that not everyone can be a YouTube partner, but it’s not as hard to qualify as it once was.
The requirements to be a YouTube partner are:
- Having 500 subscribers on your YouTube channel
- Uploading 3 public videos in the last 90 days
- Clocking 3,000 watch hours in the past year or 3 million Shorts views in the last 90 days
Businesses that participate in the YouTube Partner Program can make money off of ads that run in between videos in the YouTube Shorts feed.
What Are the Benefits of YouTube’s Partner Program?
YouTube partners get all kinds of extra revenue when they’re a part of the program. Eligible creators and businesses will share up to 55% of the revenue generated from views in Shorts. Note the word “share.” All YouTube creators in the partner program share the revenue. YouTube collects the money earned from ads in the Shorts feed and then pays out a share of that money to businesses and creators in the YouTube Partner Program at the end of each month.
There are other benefits too. Businesses that are YouTube partners can promote their own goods with YouTube Shopping.
This is particularly beneficial for business owners who use Shopify. YouTube partners who also use Shopify will be able to let users purchase goods without leaving YouTube. They can also embed tools like Super Stickers (which highlight fans’ messages in live chats) into content. Qualified partners can also ask users to pay for channel memberships.
But you can’t get any of these perks unless you apply to be a YouTube partner and accept their new terms and conditions. Conversely, if you already are a YouTube partner, you must accept their new terms and conditions by July 10, 2023, to continue reaping the benefits from the program.
The First Step to Earning Money Through the YouTube Partner Program
Before you can earn any money through YouTube, you must meet the requirements stated above and accept the YouTube partner program terms and conditions. You will not earn money from the channel’s eligible Shorts views until you accept the terms and conditions. Shorts views that stack up before you’ve accepted the Shorts Monetization Module terms and conditions will not count towards Shorts ad revenue sharing.
In addition, businesses who are already YouTube Partners only have until July 10 to accept the new terms and conditions. If you don’t meet this deadline, you’ll be removed from the YouTube Partner Program and you’ll need to re-apply.
If you suspect you don’t have time to review the YouTube Program requirements before July 10, we can handle the task for you. In fact, this may be the perfect opportunity to have digital marketing experts like us at SEO Design Chicago take a close look at your YouTube video ads. We can make sure you’re maximizing the time and money you’re putting into your YouTube channel.
Why Is YouTube Doing This?
YouTube isn’t just doing this to make everyone spend more time checking terms and conditions boxes and messing with a platform that most people feel comfortable using. They’re doing this to stay relevant and to encourage businesses to use YouTube as a money-generating platform.
The new strategy forces everyone in the partner program to work together. The more ad money that comes through Shorts each month, the more everyone in the YouTube partner program gets paid.
Why do this? So YouTube and businesses on YouTube can stay relevant in an era where TikTok continues to be extremely popular. Remember that TikTok is predominantly popular among younger users. Meanwhile, people of every age are on YouTube. 77% of internet users between ages 15-35 are on YouTube, along with 73% of users aged 36-45, 70% of users aged 46-55, and 67% of users over age 56. This means that if you regularly post videos to YouTube, your business, expertise, and goods will get noticed by whatever demographic you are targeting. And since YouTube offers partners who use Shopify as an e-commerce platform the opportunity to purchase goods without leaving YouTube, this may translate into sales.
Of the new YouTube Partner program requirements and conditions, YouTube says, “We expect the majority of our Shorts Fund recipients to earn more money under this new model, which was built for long-term sustainability. Instead of a fixed fund, we’re doubling down on the revenue-sharing model that has supercharged the creator economy and enabled creators to benefit from the platform’s success.”
How Important Is the YouTube Partner Program?
You may be wondering if you can just blow off posting videos regularly to YouTube, especially if you’re struggling with keeping up with social media. But if you like free money and cheap advertising, you’ll take full advantage of YouTube’s Partner program.
Video rules the internet. People will remember 95% of a message if it’s presented in video format. Comparatively, they only remember 10% of information when they have to read it. But don’t just post those videos on Instagram, Facebook, Twitter, and TikTok. You should also be posting those videos, and additional footage, on a dedicated YouTube Business channel.
Having a dedicated YouTube channel for your business is just as important as having Facebook and Instagram accounts. These are the reasons why your business must be actively posting videos on YouTube:
- Potential customers use YouTube as a search engine.
- YouTube videos are included in search engine results and increase your rank on SERPs.
- YouTube can drive sales through shoppable links.
- AdWords for Video is a great way to maximize your advertising budget dollars.
Once your business channel includes enough videos and has enough viewers or subscribers, you can enroll in the partner program. At that point, you’ll be pocketing money just for doing what you’ve already been doing.
If you struggle with video or don’t have the time or energy to deal with the legal and tech end of YouTube, reach out to us. We’re experts in all things Google and all things YouTube.
How Much Money Can You Really Make from the YouTube Partner Program?
There are no minimums or maximums under the YouTube partner agreement about how much or even if you’ll be paid. Earnings are based on a share of advertising money brought in from viewers of your videos. The more viewers, the more money.
According to Google, which owns YouTube, the exact share you’ll earn is outlined in the agreements you’re signing by July 10. If you would like, you can review your agreements for specific details about your revenue share by signing into YouTube Studio and selecting Settings from the left menu. When you click on “Agreements,” you’ll be able to click “View Agreement” next to each notice to find details about your revenue share.
A large portion of how much you’ll earn depends on which services you’re opting into as part of the YouTube Partners program. Here are three potential ways to earn money and the percentage you’ll earn from each type:
Commerce Product Module
If a partner turns on fan funding features by reviewing and accepting the Commerce Product Module, YouTube will pay 70% of net revenues from channel memberships, Super Chat, Super Stickers, and Super Thanks. This is best if you regularly host live events on YouTube.
Watch Page Monetization Module
From YouTube: “If a partner turns on Watch Page Ads by reviewing and accepting the Watch Page Monetization Module, YouTube will pay 55% of the money from ads displayed or streamed on their public videos on their content Watch Page.”
Shorts Monetization Module
From YouTube: “If a partner turns on Shorts Feed Ads by reviewing and accepting the Shorts Monetization Module, YouTube will pay them 45% of the revenue allocated to them based on their share of views from the Creator Pool allocation.”
You can always check what you have earned or are earning by revenue by using YouTube Analytics. Simply sign in to YouTube Studio and click “Analytics” from the left menu. Then, choose “Revenue” from the top menu. Also, keep in mind that Google withholds taxes from all money earned by views from US-based users. If you don’t provide Google with the right documents, they withhold an estimate.
To get paid from YouTube, you must create an AdSense account and link it to your YouTube channel. This account is where all of the money that you pay to Google for Business programs comes from, and it’s where Google and YouTube will deposit all earnings. The types of payments you can receive from YouTube include checks, electronic funds transfers (EFT), and wire transfers.
What Are the New Terms and Conditions of the YouTube Partner Program?
By now, you are hopefully interested in the YouTube Partner program. If you qualify to be a partner, take advantage of this way to earn some money. Remember that you must agree to YouTube’s new terms and conditions for the Partner program by July 10.
If you are wondering just what you’re agreeing to, here’s a quick guide (although we always recommend reading the full terms and conditions before clicking “accept”).
Base Terms
The Base Terms include basic program terms like how YouTube pays you, content policies, and new terms like country pass-throughs and rights clearance adjustments. You must accept these to be part of the YouTube Partner Program.
Watch Page Monetization Program Requirements
According to YouTube, “The Watch Page represents pages within YouTube, YouTube Music, and YouTube Kids dedicated to the description and playback of your long-form or live streaming videos.” You don’t need to accept these, but if you have previously and want to continue doing so, you need to accept these.
Shorts Monetization Program Requirements
You want to agree to the Shorts Monetization terms. This allows your channel to share revenue from ads viewed between videos in the Shorts Feed. Once you’ve accepted this Module, you’ll start earning from Shorts Feed ads and YouTube Premium.
Commerce Product Module
The Commerce Product Module (formerly the Commerce Product Addendum) allows you to use or continue using a series of Fan Funding features like Super Chat, Super Stickers, and Super Thanks. These terms remain the same so if you’ve already accepted, you won’t need to accept them again.
Need Help With YouTube Partner Program Requirements?
If you need more help understanding what you’re agreeing to, or if you want to expand your YouTube presence (or start one), reach out to SEO Design Chicago today! Our experienced team will show you how to make the most out of your YouTube efforts.
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