Neal Mohan, Chief Product Officer, mentions in his blog his love for the creators of YouTube. This VidCon 2018 at California he mentioned some new ways for creators to earn money on YouTube and also engage and build stronger bonds with the audience.
Creators use the platform to entertain the audience and bring positive changes to the world and hence these tools will provide business for the creators and increase the potential of the platform.
With the increasing number of advertiser's on YouTube creators from all across the globe have been able to build business on the platform. According to recent statistics, the number of creators earning five figures a year is up by 40 percent and the ones earning six figures a year has increased by 60 percent this year.
Super Chat is an idea that was very popular, where the fans can purchase chats to stand out their messages in the crowd. This tool will be used to increase the revenue for the creators by expanding it's use to purchase ticketing, merchandise and channel membership.
There are three new things introduced this VidCon 2018:
Channel Membership
YouTube had started using this feature for a certain channels and now will be available to many more creators. Users can pay a monthly recurring fee for $4.99 and they can avail exclusive member only benefits like live streams, extra videos, or shout-outs. They can also custom emojis, badges and a member's only post tab.
The eligibility for to avail channel membership is 100,000 subscribers. This feature will be available to many more creators in the coming future.
Merchandise
Merchandise has been one of the popular ways of monetizing on YouTube for creators. And it is still the most popular method of increasing revenue. To make it easier for more creators to use this opportunity, TeeSpring has teamed up with YouTube and creators can choose from 20 different items and customize them and sell them on the shelf.
This gives immense opportunity to many creators to grow on YouTube and grow the platform with them. It is currently only available in the U.S. and for creators with 10,000 subscribers. Soon YouTube plans to tie up with many more brands and expand this service to creators all around the world.
Introducing Premiers
When fans and creators engage on YouTube, they form a community and YouTube's focus is to grow and deepen this bond. Live streams have helped this to strengthen the bonds. YouTube plans to expand this and has introduced a new feature known as Premiers.
Creators can feature pre- recorded videos as a live moment. Creators have to choose a date for upload and YouTube will prepare the hype and anticipation for the same. Fans can chat and engage with each other during the moment before the video goes live. Creators can also engage with the fans and create more enthusiasm and anticipation!
Creators can use premiers to generate revenue. With the help of a tool like SuperChat fans can help is the selling of merchandise and other chat perks. Channel members can benefit during premiers and more users can be convinced to take the benefits of the channel membership.