Crowdfunding can diversify your revenue, help you fulfill creative potential, start new projects and turn YouTube into a career. What would you do with a little extra money?
Get started with crowdfunding
There are many different ways to make money with YouTube, besides enabling ads. Many creators sell merchandise, arrange brand deals, and make live appearances. But another way to make money is crowdfunding. You don’t need to be a YouTube “star” for a successful crowdfunding campaign. You just need enough supporters pledging an amount of money that makes it worth your while. Extra income from crowdfunding can potentially shift your channel from a hobby to a career and allow you to execute more ambitious projects.Crowdfunding sites usually have tiered reward systems where backers receive a reward or perk in return for their contribution. Customized rewards can incentivize backers to contribute at different financial levels, like offering a shout-out in your next video for a small donation or something more substantial for larger donations. There are two common types of crowdfunding: recurring and project-based.Recurring crowdfunding lets donors contribute to you on a regular basis (usually monthly or per video) making it easier to keep doing what you’re already doing. Recurring campaigns can have a big impact on overall revenue, especially for smaller channels. More established channels typically use recurring crowdfunding to make videos with high production value. When your audience sees the time and effort put into a crowdfunded channel, they may be more likely to support it.Project-based crowdfunding is often used to sponsor a special project or to enable creators to buy new equipment. YouTube creators have used project-based crowdfunding to raise money for charity, experiment with long-form movies, and even publish books. Consider this type of crowdfunding if you want to make something new happen that you can’t afford on your own.Crowdfunding can help diversify your revenue streams, fulfill your creative potential, find sustainability on the platform, and embrace new projects or opportunities that may otherwise be difficult to afford.What could you do with an extra $1000 each month? Or a lump sum to get an ambitious new project off the ground?Tips
What type of crowdfunding suits your needs?
Are you hoping to raise money on an ongoing basis to support your channel? Are you making less than you need from ads, merchandise, or other revenue streams? If so, consider recurring crowdfunding.Do you want to fund a new project or try something new creatively? Are you looking to purchase new equipment or need to replace something? If so, consider project-based crowdfunding.See it in action
Comedian-Musician, Ali Spagnola, uses Patreon for recurring donations Ali explains why crowdfunded support helps her produce the types of videos her audience loves.
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