In recent times, we’ve all noticed a trend: ad revenue on YouTube is down. Is it because YouTube is slashing payouts? Are advertisers shying away from spending money on ads? Is the popularity of TikTok or shorts to blame? Or is it inflation that’s causing this downward trend? Whatever the answer, let’s not get too hung up on it. Let’s talk about how you can continue to monetize your YouTube channel, regardless of the fluctuations in ad revenue.
This post is sponsored by Epidemic Sound.
Some product links in this post are affiliate links, and I will be compensated when you purchase by clicking our links. Read my disclosure policy here.
If you are creating content on YouTube and want to generate income from it, you’re essentially running an online business. There’s really no way around that. So let’s focus on multiple income streams to build a profitable business. Here are the revenue streams that I am focusing on now:
1. Selling Low-cost Digital Products
If your content involves teaching, preaching, or presenting information, why not create a low-cost digital product related to your niche? This could be a guide, planner, workbook, or template. For instance, I created a $7 PDF guide (Prompt Powerup). Although the price tag is low, when compared to the $10.31 I earn for every thousand views on YouTube, the revenue from the PDF guide is significantly higher.
2. Affiliate Marketing
If creating a product sounds daunting, affiliate marketing is an easy-to-implement alternative. You promote other people’s products and earn a commission from each sale. Infusing your regular YouTube content with affiliate marketing not only helps your viewers but also opens up a revenue stream that is independent of ad revenue. Plus, you don’t need to worry about creating products or handling shipping. It’s a win-win situation!
For instance, you can join Epidemic Sound’s community program, which offers a vast collection of songs and sound effects. Once you join, you receive a unique referral link. Each time someone signs up for a free 30-day trial to Epidemic Sound using your link, you receive an extra month for free. Plus, the potential to earn money from each referral is always a bonus!
3. Sponsored Content
Working with brands on sponsored content is another excellent way to diversify your income. For instance, this post and the accompanying video is sponsored by Epidemic Sound. Some YouTube creators see a majority of their revenue coming from working with brands. For me, it’s a small piece of the pie.
4. Offering a Service
A revenue stream often overlooked by online creators is the provision of a service. Whether it’s web design, graphic design, or bookkeeping, there’s a chance to generate income by providing services. And guess what? YouTube content can be a fantastic way to attract clients for your service-based business.
5. Create a Course or Program
Finally, creating a course or program related to your niche is an excellent way to generate revenue. In contrast to freely available content on YouTube, courses provide a more focused, thorough, and immersive learning experience. They offer the chance to connect on a deeper level with your audience. If you worry about the burden of promoting these courses, YouTube provides an organic, ad-free way to reach out to potential customers.
The best part is, as a YouTube creator, you can take advantage of YouTube’s algorithm to get your online offer in front of the right people without paying for ads or doing big “launches.”
While YouTube ad revenue may be dipping, there’s no need to hit the panic button. As content creators, we have an abundance of revenue streams at our disposal. So, instead of focusing on the decline in ad revenue, let’s shift our attention towards diversifying our income sources. It’s time to build a more resilient and profitable online business, fuelled by YouTube!
P.S. Do check out Epidemic Sound’s community program and start diversifying your revenue streams today!