30 Jul 2013

WHO WANTS TO BE A YOUTUBE MILLIONAIRE? PART 1: INTRODUCTION

By Segun Sobulo, 9JEducation
Tuesday, July 30 2013

Welcome to the show

YouTube allows you to showcase yourself for free. Simply upload a video, share it with your friends online and after you’ve raked in millions of hits, Google sends you a cheque for sharing your videos with the world. You know the saying though, “nothing good comes easy”. Like the TV show “who wants to be a millionaire?”, being successful on youtube requires intelligence, maximizing your lifelines and a little bit of luck. Chances are you’ll come out of the show richer than you were if you play your cards right.

Noteworthy:
 
According to a 2009 report, less than 1% of youtube videos get up to a million views (http://www.businessinsider.com/chart-of-the-day-youtube-videos-by-views-2009-5), so again this is not quick and easy money. However there are ways to increase your earnings, e.g. uploading a lot of videos to increase the odds of you having a popular video.

Some contestants rack go viral and rack in more than a million views daily, easily hitting tens of millions of views in a short amount of time. We advise you set your goals low initially, e.g. 1 million views for the year. If you fall well short of this mark, you will still be better off for having tried. Win or lose, this is a show that offers numerous opportunities besides monetary rewards. The gift of education is an example of this, e.g. here are some videos on how to make money on youtube (http://www.youtube.com/results?search_query=make+money+with+youtube) and here’s another set of videos on how to make your own electric generator http://www.youtube.com/results?search_query=build+your+own+electric+generator&sm=3



So how much can you win?

Quick answer is about $2k (320,000 Naira) - $10k (1.6 million Naira) for a million views.
 

Youtube earnings are difficult to estimate because most videos generate revenue when a user clicks on an advert displayed when the video is playing. In theory you could have a million views and if nobody clicks on the ads being displayed, your earnings will be 0 naira. Also even when you do have people clicking on the ad s being displayed, the rates for ads vary depending on the product being advertised
I googled for earnings reported for the most popular video on YouTube, Gangam Style, and here's what we learned:


  • The same article lists the average youtube earnings as $2 for a 1000 views, hence a million views would fetch about $2,000 (~320,000 naira), though gangam style is supposed to have earned more than the average price of $2 per 1000 views as the video's popularity grew.

From above conservative estimates of youtube earnings can be estimated at 300,000 to 500,000 Naira for a million views.


Next we provide tips and links to more resources on how to play who wants to be a youtube millionaire, and succeed at it. Click here to continue reading



Segun Sobulo is an analyst developer at Fertile-Tech Business Systems. When he's not busy writing applications to run on Google's cloud computing platform (App Engine), he finds the time to express his passion for youth development by contributing to the 9JEducation blog.

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