Following up on my YouTube Revenue Report 1 I wanted to give an update for this month and also provide some more visibility into the ever-growing world of YouTube monetization.
Now, of course, I’m not an expert by any stretch of the imagination… but, I have been around for quite some time and know a few things about monetization and optimization as a whole that, at times, can be loosely applied to YouTube-centric money-making exercises.
For those that are just joining me, please note that the reason that I’m doing YouTube at all (via a daily VLOG) is because I wanted a new creative challenge, something to make me grossly uncomfortable with myself. I also hate quitting on any personal challenge as well, so, there’s that.
My efforts around monetization are to simply experiment and to learn as much as I possibly can about this new-ish medium. What I mean by “new-ish” is the fact that I’ve only recently become a real practitioner, instead of just a consumer of YouTube. In other words, I have moved from consumer to creator.
And it’s exciting, I won’t lie. Learning something new always has the potential to be exciting and the hope is that when you jump-in you’re expectations are met with reality. This isn’t always the case, but in this one it is.
I have learned a ton about myself as a creative person and as a professional and through the act of creating videos daily, despite the wide disparity around quality, I have also caught glimpses of the future and visions of what is possible with video.
You see, sometimes we simply don’t give ourselves permission to dream a little bit more than we ought. Sometimes we don’t dream enough at all.
But I don’t want to be unfair – there have been many more days that have been wildly frustrating than calm and cool. The act of creating something from nothing, daily, is no joke, especially if the creation is something foreign.
This goes for not just the tools but the techniques, the time commits, the optimizations, the scheduling… everything. It also includes getting buy-in from my partners and family, btw, as they aren’t casual bystanders in this creative mess.
Okay, so, with that preamble that was much longer than I had planned, here’s the breakdown of what happened last month:
- YouTube Est. Total: $33.40**
- Amazon: $164.38
- Total Revenue: $197.78
The most important statistic might be the fact that I literally doubled the amount of income from the previous month from YouTube directly, going from $17 to $34!
This is significant because it didn’t require that I double my subscriber count. A linear model would have suggested going from ~488 subscribers to nearly 1,000 to achieve a doubling of revenue. Interesting to think through…
**Note: I’m still missing the exact revenue figures for January 31st, but, that’ll easily bump it above the $34 mark. I’ll update my monthly financial dashboard with the exact figure tomorrow.
As you can see, I’m just pulling in revenue from 2 sources currently, YouTube and Amazon affiliates. Obviously the name of the game, like many things, is diversification. If I were to continue to growth this part of the year-long experiment then I’d experiment with other revenue streams as well.
To be honest, I’m not sure that I’ll have time to do that as I am pretty busy with much larger things (like my startup) but maybe I’ll find time here and there. I will, of course, share those experiments as I try them.
I share a few other thoughts below:
One of the things that I share in the video is the fact that I’ll hit 1,000 subscribers in 56 days on March 29th, 2017, assuming I continue to trend with my existing subscriber growth.
Anything can happen between now and then, but, benchmarking is a very simple way to establish goals and understand velocity and momentum. It’s also the only way that you’ll be able to truly optimize because optimization requires real data.
In any case, I hope these types of videos are interesting as they are informative and if you have any questions, well, you know where to find me.
Have a great one folks!