Earlier this month the Wall Street Journal reported that YouTuber Ray William Johnson is making an estimated $1 million a year thanks to the video site, and for the past few days the web has been abuzz with chatter about making money from YouTube. A report from Nadia Han of ABC News in Philadelphia looks into the potential of ‘Cashing in on YouTube.’ Some of the details in the report are surprising, to say the least.
Previous reports have indicated that the top grossing YouTubers have made YouTube their full time job, but according to the ABC News report you can make the big bucks without spending your full 40-hour workweek on YouTube.
As an example, they refer to Rob Homayoon, a Temple University dental student that makes origami how to videos. Apparently Rob is making a six-figure income from these videos, which he balances with his life and schoolwork. Back in April of last year, Rob told the Daily Mail, “It is really hard to balance my life, school, and YouTube. This could be a full-time job, if I really wanted it to be.” Yet Rob is still reportedly making over $100,000 a year even though if you look at his YouTube channel he only uploads a new video once every couple of months.
The second example in Nadia Han’s report is YouTube prankster Ed Bassmaster. Han reports that, “Ed has quit his traditional job and supports three kids just by posting one video a week on YouTube which takes four hours or less!” Of course, this sentence may be just a little misleading. Ed also makes money from commercials and appearances at anywhere from $4,000 to $20,000 a pop (thanks to his status as a YouTube celeb, of course) and he spends a great deal of time promoting himself as well, specifically on Facebook where he has over 68,000 fans.
I think it’s necessary to stress the importance of putting tons of time into promotion if you want to make the big bucks on YouTube. It’s not just about making a video and putting it up. You’ve got to build a good subscriber base and engage with your fans if you want to get the mega views. It’s also important to point out that in order to make money you’ve got to either be a YouTube Partner or have your account open to monetization. Find out more about the YouTube Partner program on the YouTube website.
Those things aside, the information in Han’s report is pretty impressive. Check out the video and let us know what you think in the comments below.
Image credit: Andre Blais via Shutterstock
Megan O’Neill is the resident web video enthusiast here at Social Times. Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.