YouTube offers a great chance to make some extra money even make a healthy living, however YouTube doesn’t compensate their content creators enough. In order to start making money from YouTube you need to first monetize your videos and channel. This means that YouTube has a right to play an advertisement before the video, an advertisement doesn’t run before every view but only 20% of views are preceded by the ad which means for every 1000 views there are 200 ads. The amount you get paid from YouTube has been termed as CPM. The vast majority of YouTubers earn anywhere is $0.30 to $2.50 CPM while the most popular channel earn $10CPM.
If you have 1 million views then you would have $500 in revenue from 1 million views. 20 percent of one million views = 200k ad views divided by 1000 for CPM= 200 times by $2.50=$500). You also need to pay 30 % in taxes which means $350 per million views. Now you need to decide will it be enough to meet your lifestyle or not.

There are many YouTubers who have turned to MCN or Multi Channel Networks. MCN finds several similar topic which has similar genre and demographic. The MCNs help YouTubers to audience development, cross promoting channels, sponsorship and production equipment.

Another option is paid channel Subscription. This is simply offering a content viewer must pay in order to watch. You can charge per video or give them a monthly subscription fee amount, but your content should be worthy of paying a good amount by viewers otherwise you will never get paid.