In recent years, YouTube has gained a lot of popularity, especially during the Corona Virus pandemic. It has been witnessed that not only artists and entertainers have YouTube channels, but also many other people as well.
Despite being launched in February 2005, YouTube has become the second most visited website, with more than one billion monthly users who collectively watch more than one billion hours of videos each day. The social giant was launched by Steve Chen, Chad Hurley and Jawed Karim.
The American online video and audio sharing social media giant platform is owned by Google. To add to that, YouTube offers its users four packages that cater for their different needs. The packages include YouTube Premium, YouTube kids, YouTube TV and YouTube music. These packages bring in a lot of revenue especially YouTube Premium which operates without advertisements.
Last year, YouTube boasted of revenue of 19.77 billion US dollars from over its 2 billion users. It has paid over one trillion US dollars to content creators and artists across the world.
The reason why YouTube has become a goldmine is that it does not require a lot of information and details for a person to make money from it. Unlike its competitors like Netflix and Amazon, YouTube requires a person to have over 1000 subscribers and four thousand watch time to qualify for monetization.
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