Over the last few years, a new niche of celebrity has begun to appear. Online celebrities and influencers are making millions by creating engaging content and interesting personas.
With online celebrities now appearing on prime-time TV on shows such as The Great British Bake Off and I’m A Celebrity, YouTube stars here to stay.
But it isn’t just fame these young stars are gaining. There are fortunes to make as well.
Money Pod has created an infographic on the secrets of the YouTube Millionaires and you can read on for all the details on how these stars are making their fortunes and live like a millionaire.
The Pressures of Starting a Business and The Benefits of Starting Out Online
Starting a business can feel like a very intimidating task. From coming up with a cool idea to funding your new project, the task is a daunting one.
But there is a growing group of young men and women making the most of online opportunities to make their fortunes.
The benefits of starting out online mean that the costs are minimal, anyone with a camera can start their channel and invest in more complex equipment once they are earning money.
There also isn’t a reliance on employing others or investing in products to sell on.
Starting out online does require dedication and consistency, but it is a great form of self-employment to start alongside your nine to five.
The YouTube Millionaires
There are plenty of examples of people who have made millions on YouTube, across many different genres.
Perhaps the most well known British YouTubers is Zoe Sugg, she has over 12 million follows and her wealth is predicted to be $4,000,000. As well as her channel, Zoella, she has an additional vlog channel, a series of books, a book club partnership with WHSmith and a beauty line with Superdrug.
Gaming is also a popular genre of YouTube videos that has the potential to make creators millions. Olijade Olatunji has 17 million followers and has an estimated wealth of $4,500,00. As well as his channel he has worked with Xbox, Eurogamer and is working on a book and will soon appear in a film.
How YouTubers Make Money
As you can see, YouTubers don’t rely on revenue from their videos alone. In fact, payment by YouTube is pretty unimpressive and viewers must watch the whole ad at the beginning of the video for the creator to receive payment. With a skip option on most videos, you probably aren’t going to make a fortune that way alone.
On YouTube and social media, there are two main ways to make money.
This is by partnering with brands who want to advertise their product to your followers. You can either have sponsored videos where you talk about the product, or you could include affiliate links on social media posts and videos. These links work by giving you money every time a viewer makes a purchase through one of those links. The link might also offer your subscribers a discount.
Expanding beyond the world of YouTube, there are many more ways that influencers can make money.
From appearing at nightclubs to writing books and designing makeup palettes and interior décor, creating products for subscribers to buy is a great way to make a lot of money.
Palettes such as Jaclyn Hills face palette with Becca Cosmetics, sold out in less than half an hour on its first release. Similar beauty and lifestyle products have sold out quickly too. Some YouTubers even have dedicated websites selling merchandise relating to their brand, including items with their famous catchphrases or products created in collaboration with well-known brands.
As YouTube becomes more popular than traditional television, brands know that to reach new customers, influencers and YouTube stars are a vital advertising tool. Build up a big enough following and you could be approached by these well-known brands and offered a lot of money to feature their products.
How to Get Started with YouTube
Want to take the plunge?
Start by getting a camera and video editing equipment. Practice talking in front of the camera to see how it feels. Next, you’ll need an original channel name and to create an online persona.
Try to come up with something really original. Are you an amateur make up artists learning about makeup with your viewer? Are you a gamer and comedian and your videos will combine the two?
You’ll need to use various forms of social media to advertise your channel.
Make sure to be consistent from the get-go. Don’t upload until you have a number of videos planned and you know you’ll have the time and the ideas to upload videos at least twice a week.
Use Twitter to interact with businesses and followers to get your name out there.