Social media is all fun and games until you hear PewDewPie makes $15 million USD per year posting videos on YouTube.
Recently, we covered the “Top 10 YouTubers Right now” with PewDewPie taking the crown. PewDewPie makes an estimated $15 million USD per year from his YouTube efforts.
YouTube is just a piece of the pie. There are similar people making a killing on other social media platforms.
A ton of these social media cash kings and queens happen to be millennials who are defying the conventional methods of making money.
One would ask, how is it possible to make so much money from social media when some of these guys don’t even sell anything?
The answer is not a straight forward one. It’s mostly case specific. However, here are a few popular ways they make money with social media.
Use Social Media to Make Cash: Influencer Marketing
Depending on how big, targeted, and engaged your social media audience is, you can expect big brands to pay you anywhere from $5,000 USD to $300,000 USD to post about them.
A lot of money for a few clicks on your phone, right?
Well, that’s how fitness influencer Lyzabeth Lopez makes her money.
With over 2M Instagram followers, Lyzabeth Lopez charges between $3,000 and $5,000 USD per post, and between $20,000 and $100,000 USD per campaign.
Advertising and Product Promotion Campaigns
For Sheila Ndinda, a YouTube channel that was started as a side-hustle for generating additional income last year has grown to become a money-making machine.
Having 23k subscribers and close to a million views, the Kenyan YouTuber now generates multiple streams of revenue.
Sheila has YouTube ad revenue pouring in as well as revenue from ad campaigns from hair product companies.
Yes, you read it right. Fake news!
Whilst unethical, this hasn’t stopped a Macedonian teen from making over $60,000 USD publishing lies.
On social media, a headline is everything. Fake news writers use sensational headlines to draw huge traffic to fake news sites where they earn money from penny-per-click advertising.
Fake news came under the spotlight recently after it was believed to have influenced the 2016 U.S. Presidential elections.
Guess we now know where the motivation to create fake news comes from: money.
There’s no denying social media influencers command a position of power in their own way.
They influence everything from our buying habits to the politicians we vote for.
At the end of the day, we all want to get paid for what we do and that’s exactly what they are getting.