How much money can you really make with YouTube in 2023? My story

Hey, what’s up everyone? Welcome back to my blog, where I share my tips and tricks on making money online. Today, I’ll be addressing a frequently asked question: How much money can you really make with YouTube in 2023? Well, the answer is… it depends. But don’t worry, I’ll break it down for you and share my journey from zero to six figures in less than a year with YouTube.

YouTube is Not a Get-Rich-Quick Scheme

First and foremost, let me emphasize that YouTube is not a get-rich-quick scheme. Achieving success on the platform requires hard work, dedication, and patience. You can’t just upload a few videos and expect millions overnight. Creating high-quality content that engages your audience and consistent uploads are key to growth and monetization.

Additionally, YouTube is not the sole avenue for online income. Numerous other platforms and methods can help you generate revenue, such as blogging, podcasting, affiliate marketing, e-commerce, coaching, and more. YouTube is just one option, and its suitability depends on your niche, skills, and objectives.

Factors Influencing YouTube Earnings

Furthermore, the amount of money you can make with YouTube varies significantly due to multiple factors. These include your niche, audience size, engagement rate, CPM (cost per thousand views), RPM (revenue per thousand views), video length, quality, frequency, topic, title, thumbnail, tags, description, keywords, SEO (search engine optimization), promotion, and monetization options (ads, memberships, super chats, merchandise, etc.).

General Guidelines and Averages

As you can see, there’s no straightforward answer to how much money you can make with YouTube in 2023. It fluctuates across channels and months. However, I can provide you with some general guidelines and averages based on my experience and research.

According to Social Blade, a website that tracks YouTube statistics, the average CPM for YouTube in 2023 is $4. This means you earn $4 from ads for every 1,000 views on your videos. However, YouTube takes a 45% cut of ad revenue, so the actual amount you receive (RPM) is usually lower. The average RPM for YouTube in 2023 is $2, meaning you earn $2 from ads for every 1,000 views.

Let’s do some math now. Assume you have a YouTube channel with 100,000 subscribers, and you upload one video per week. Each video gets an average of 10% views from subscribers (a realistic number, according to YouTube experts) and an additional 10% views from non-subscribers. So, each video receives 20,000 views in total.

With the average RPM of $2, each video earns $40 from ads ($2 x 20). If you upload four videos per month, you earn $160 from ads ($40 x 4). Over a year, this amounts to $1,920 from ads ($160 x 12).

Exploring Additional Income Streams

While not bad for a hobby or side hustle, it may not be enough to quit your day job or live comfortably. However, remember that YouTube is not your only option. There are various ways to monetize your channel and increase your income, such as:

1. Creating a blog or website to drive traffic from your YouTube videos.
2. Starting a podcast to delve deeper into your niche and attract more viewers.
3. Developing an email list, providing valuable content and niche-related offers.
4. Creating and selling courses and eBooks on your niche.
5. Setting up a membership site and Patreon page, offering exclusive content to supporters.
6. Opening a merchandise store to sell branded products to your viewers.
7. Engaging in affiliate marketing, promoting products relevant to your niche for commissions.
8. Offering coaching and consulting services, utilizing your expertise to assist your audience.
9. Pursuing sponsorships and brand deals, partnering with relevant companies.

Success Story – My Personal Journey

Now, let me share my personal story of how I achieved this. I began my YouTube channel in 2022 as a passion project. I was enthusiastic about personal finance and wanted to share my knowledge and experiences. Initially, I had no idea how to make money with YouTube or if it was even possible. I simply wanted to have fun and help people.

Overcoming Challenges

My first video, uploaded on January 1st, 2022, introduced my channel and its purpose. However, it received only three views in the first week – one from me, one from my mom, and one from a random stranger who left a negative comment. I was disheartened but decided to persist.

Gaining Traction

My second video, posted on January 8th, 2022, explained budgeting and saving tips. It received five views in the first week, but this time, one was from a supportive stranger who subscribed to my channel. Encouraged, I kept going.

Finding Success

My third video, shared on January 15th, 2022, covered investing and wealth growth. It garnered 50 views in the first week, with numerous positive comments from new viewers. This experience motivated me to continue my efforts. However, these views are not sufficient to monetize my channel. While searching on Google, I came across LenosTube service, which I personally find trustworthy. I contacted them and explained my channel’s focus, needs, and theme. You won’t believe their customer support and flexible package, which have been really helpful for me in choosing their services. With their assistance, my channel gained more visibility, reaching a wider audience, and it’s now eligible for monetization.

Continued Growth and Diversification

And so it went on…

Fast forward to today, my YouTube channel has grown to over 100,000 subscribers and 10 million views. Each video now averages 100,000 views within the first week of upload. My CPM is $10, and my RPM is $5. This means each video earns $500 from ads ($5 x 100). On a monthly basis, I make $2,000 from ads ($500 x 4), totaling $24,000 annually ($2,000 x 12).

While this income is respectable for a hobby or side venture, it’s still insufficient to quit my day job or maintain a comfortable lifestyle. However, remember that YouTube is not the sole income source. By diversifying revenue streams and leveraging my channel for brand-building and audience growth, I’ve explored various opportunities to increase my income.

Wrap-Up

Remember, achieving success on YouTube and making money online requires dedication and perseverance. Starting with a passion for your niche and a willingness to provide value to your audience can lead to remarkable growth over time. Stay committed, explore various monetization avenues, and continue improving your content to reach your financial goals. Good luck on your YouTube journey!