I know that a lot of you would like to make a lot more money with your YouTube channel, and YouTube’s been listening and actually wants to offer something to all of their users. This is a new feature that YouTube has been working on, and now they have made it possible for creators to make money by renting selected videos on their YouTube channel.
Think about this for a second. You are able to rent and sell videos! If you understand the potential power behind this, you can understand all of the possibilities that will open up from this. All you have to do is enable the feature on your YouTube channel and you will be able to rent or sell your very own videos.
To enable this feature, go to the upper right-hand corner. Click on the Avatar icon, and mouse down to Creator Studio. This will launch your Creator Studio. Go to the left side and click on Channel. Click on the Features button and click on Paid Content. This is the place where you decide if you want the ability to have paid subscriptions, but you can also do rental and purchases. Click Enable, fill out the terms and agreement, and when you’re finished, click Accept.
Now, under Channels, you will see where it says Paid Subscriptions. If you click on this, your whole YouTube channel will be a paid subscription channel and I encourage you NOT to do this. You can make a new paid channel, but do not do this to your current YouTube channel as a paid channel.
The next step is actually enabling a video that someone can rent or buy. To do this, select a video. Click the Edit button, and this will launch you to the Video Manager. When you see this, it has two options: Monetize with Ads button, or the Rent or Purchase Video. Unclick the Monetize with Ads because you want the Require Rent or Purchase to view. It will then bring up a screen that allows you to create an offer for the next video you can actually promote. This is a cool feature because you can add a trailer or an intro to attract viewers to rent or purchase your video.
To Create an Offer, you need to select your country. Don’t try to get around this because it is not allowed. The offer type you can say is either Rental or Purchase. If you’re trying Rental first, you have 72 hours that you can rent it. And then your purchase basically is a little bit different. It also gives you the opportunity once they have purchased it because now they can have it for a lifetime. That means you always have to make it available for them.
Here are a couple of options: In the Rental, there are some advanced strategies, but in the rental itself, you have some opportunities here to make some money in 48 to 72 hours that will come in immediately after that. Then, you can move it to a different setting and go back to public as long as no one is renting it right there.
Once you do it for purchases however, you have to always keep that level and you can never make it public. It always has to be set with a purchase price. I want to suggest a retail price of $1.00. Now go ahead and create your offer. If you need to, you can delete what you just did and create a new offer, change the pricing, or you can switch videos if nobody has purchased or rented it.
You can also select trailers for your videos, and then hit Save. People can use this to promote and then it will go to that specific sale. A lot of opportunities are here. This is really exciting because it is one of the coolest features that have ever been added to YouTube… and it is really easy to do.
YouTube still has a few requirements for this feature to be enabled on your account. Your account needs to be in good standing, you must be a YouTube Partner, not sure on the MCN thing or how that all works yet. I will do more digging to find out. Also, your channel needs to be verified by phone. Your channel also needs to be approved and linked with your AdSense account. Now for the biggie… your channel needs at least 1000 active subscribers.
One last thing to remember here is that the YouTube creator needs to be from one of the countries. Australia, Brazil, Canada, France, Hong Kong, India, Italy, Japan, Mexico, New Zealand, Philippines, South Korea, Spain, Uganda, United Kingdom, or United States. That’s a lot of countries.
I learned that you cannot change a paid video back to a free video once someone’s purchased it. Once it’s there, you have to lock it in. However, if you’re renting a video and if nobody is renting it at the time, you can actually move it back over and it can become a public video again.
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I’m so excited to tell you about this! You are going to want to watch this video and also watch the advanced training on the NEW feature of how to rent and sell videos on YouTube. In this video I will tell you about this new feature which is one of the biggest YouTube has ever announced to allow you to make a ton of money renting and selling your YouTube videos.
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