Ever wonder how bloggers, video creators, and podcasters monetise their content?
It’s a common question that many new entrants ask when starting their websites. Do you opt for a single source of revenue like Google Adsense or Affiliate marketing?
The old adage is true, “don’t place all your eggs in one basket“, from the below snippets from the “Creator Monetization Report 2017 by Michael Stelzner on Social Media Examiner“, you’ll see that more experienced bloggers rely on a diversified monetisation strategy, creating multiple revenue streams.
In this report, you’ll see:
- The most common ways creators monetize their work.
- What produces the most revenue for bloggers, video creators, and podcasters.
- How bloggers, video creators, and podcasters differ in their money-making strategies.
- How more experienced creators monetize.
How do creators monetize?
For those creators who actually make money from their content, advertising is the number-one way they make money (50%), followed by selling their own products (46%) and services (42%).
For many of the creators (28%), the blog posts, videos, and podcasts they create don’t make money. However, for some creators (29%), it’s their main source of revenue.
See the chart below for the various ways creators monetize:
What makes creators the MOST money?
When asked to select the single method that makes them the most money, creators indicated that advertising was the most lucrative source of income.
However, services and products followed closely behind. In fact, the spreads were so close that 81% of creators agreed that one of these three makes up the biggest source of revenue.
See the chart below for the the most lucrative and effective sources:
How do new creators monetize compared to the most experienced creators?
Content creators who monetize and have less than a year of experience, and compared them to creators who monetize and have more than five years’ of experience.
The key to interpreting this data is to remember that more experienced creators may have figured out more lucrative revenue models.
Here are the top two ways new creators monetize:
- Bloggers: Selling their own products (53%) and advertising (47%)
- Video creators: Advertising (48%) and selling their own products (48%)
- Podcasters: Consulting/services (58%) and selling their own products (56%)
Here are the top two ways their more experienced counterparts monetize:
- Bloggers: Consulting/services (59%) and selling their own products (51%)
- Video creators: Advertising (55%) and consulting/services (52%)
- Podcasters: Selling their own products (62%) and consulting/services (56%)
Here’s how new creators are making the most money:
- Bloggers: Selling their own products
- Video creators: Advertising
- Podcasters: Consulting/services
Here’s how the most experienced creators are making the most money:
- Bloggers: Consulting/services
- Video creators: Consulting/services
- Podcasters: Consulting/services
It’s interesting to note that the different monetisation strategies chosen by both new and experienced content creators are not massively different. The exception is that experienced bloggers typically have built a wide audience and industry standing, enabling them to leverage their expertise by offering consulting/services.
Continue reading these and other findings from Social Media Examiner’s comprehensive study of 4300+ creators reveals insights on current content monetization trends.