Process Post #8 – Monetization

One website I find myself spending quite a bit of my time on is YouTube. Youtube is a website commonly known to provide a space for individuals to watch, discover and create videos they enjoy. It is a major company that capitalizes on this week’s key concept, monetization (Week 9). Essentially, to ‘monetize’ something involves the action of “making an asset profitable” and has become a crucial part of every content creator’s strategy (Sharona, 2019).

YouTube offers multiple ways for its creators to monetize their videos. One way viewers can see this is through the clips shown during the start, middle or end of a particular broadcast. When the ad is viewed or clicked, the advertisers then pay Youtube and Youtube in turn pays the video creator for the audience it has reached. Some other methods include: partnering with Google Adsense, collaborating with sponsors, promoting one’s own products/services, building affiliate relationships, etc (CodeFuel, 2015). Today, advertisers have more control over which channels get certain ads placed. By doing this, they allow the company to work with both the creator in the Partner Program and advertisers to maintain and control content before it gets promoted. YouTube relies on ad revenue to pay creators, help YouTube Red projects (along with paid subscriptions), and pay the engineers/coders who run the platform itself (Alexander, 2018). Essentially, YouTube is more than just a video service; it has grown into an advertising platform.

There is a lot I can take away from these findings. As a content creator on Youtube, I am actually already part of their Partner Program. One of the program’s main features enables advertising on the channel and starts paying for the views on those ads once a channel meets the thresholds of the program. From my own understanding, 2 ways someone can be eligible to join is through the achievement of 1000 subscribers or 4000 hours of watch-time in the last 12 months. 

Depending on the type of video I create, I am able to click a button to start gaining revenue through monetization. This is done through the website Google AdSense and is how my earnings are collected. Surprisingly, I have noticed that since a majority of the songs I sing on Youtube do not belong to me, a portion of what I earn is given back to the original artists (which is something I highly respect). However after finding this out, I am motivated to release more original songs and personally reach out to various music brands to gain additional sponsors.

References:

Alexander, J. (2018, January 18). YouTube’s New Monetization Rules Are Controversial, Painful and Necessary. Retrieved from https://www.polygon.com/2018/1/18/16906036/youtube-monetization-small-creators-top-creators-changes (Links to an external site.)

CodeFuel, T. (2015, June 17). How Does YouTube Monetization Work? Retrieved from https://www.codefuel.com/blog/how-does-youtube-monetization-work/

Sharona. (2019, October). What is Monetization? Retrieved from https://www.codefuel.com/glossary/monetization/

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