Monetizing Your Time On Social Media
When it comes to being a content creator, your time is money. Many platforms have programs that pay per metric, outside of brand partnerships and other money-making avenues, including Meta’s new addition to the game. But where do you get the most buck for your bang?
When you think about what platforms are actually making the most money, Facebook and Instagram have taken the lead on that for the last decade. But when it comes to actually putting that money back into their creators, TikTok is #1 in that department according to a user poll.
A lot of payment via social media is based on viewership. With that in mind, and because monetization is a relatively new idea, the payment plans are not cut and dry. According to Epidemic Sound, Facebook’s pay per 1,000 views has ranged between $1-$10 across creators. The fact that there is a spectrum can be looked at as a pro or a con, depending who you are. For smaller creators, they want to be at that $10 per 1,000 views mark, but maybe they don’t offer as much to the platform (yet). But bigger creators are bringing people to the platform, thus earning that higher caliber pay. Facebook has recently announced their performance bonus program as well, which is currently available through invite-only.
Monetization offerings on Instagram do not technically count as a ‘pay-per-view’, however; they do allow you to enable ads on your videos.
YouTube has been ahead of the game in terms of monetization since social media began. Those with established YouTube followings can actually make an incredibly decent living, with upwards of $18 per 1,000 views (average $3-$5 per 1,000 views). While that seems easy enough, monetization through YouTube can be a very tricky process, with a lot of regulations. “To start earning money directly through YouTube, you must have at least 1,000 subscribers and 4,000 watch hours in the past year, or 1,000 subscribers with 10 million valid public Shorts views within the past 90 days.”
Now let’s talk about TikTok. When you sign up for the Creator Fund (soon to be TikTok Creativity Program), you can rake in a whopping $0.02-$0.04/1,000 views. With virality achieved more frequently on TikTok than any other app, it is safe to assume the pay for a consistent creator can make up a salary equivalent to your average 9-5 job (and sometimes way more). “To make money using the Creator Fund, you must have at least ten thousand followers and received a minimum of 100,000 views in the last 30 days.”
According to a large majority of content creators, TikTok is paying the best, period. But that doesn’t mean it will work for everyone. It’s great knowing what the pay could look like if you decide to make money with your content, but there is a lot more to learn about monetization, including what will work best for your content specifically. Ideally, you would sign up for these passive ways of earning income while tackling other areas of money-making through the apps and with your content.
Stay tuned for part two.