
How to make money from YouTube: a guide by finance expert Allen Chen
With social media present in every part of life, many people dream of becoming an influencer. Platforms like YouTube tout big ad revenue for popular channels. But financial advice expert and YouTuber Allen Chen says that even a channel with 100,000 subscribers can’t provide a living. With 140,000 subscribers himself, he knows what he’s talking about. So how can YouTube become a career? Here’s Chen’s guide on how to make online content profitable.
Allen Chen walks into a room, sits down and takes out his laptop, and he’s ready to roll.
Born in 1986, he worked in the finance industry for 10 years before he decided to film his first YouTube video, three years ago. He focuses on labor insurance issues, and he now has more than 140,000 subscribers. His most popular video has almost 1.5 million views.
He uploads one video every week. Because his content has a very defined focus, he quickly made a name for himself in the finance influencer scene. But Chen admits that it’s hard to make a living from YouTube traffic.
Allen Chen
Youtuber
I’ve looked at some YouTube channels with more than 100,000 subscribers. Their average monthly advertising profits are about US$500, or NT$15,000. If you want to be full-time, you need 200,000 to 300,000 subscribers, at least.
Chen realized that most full-time YouTubers don’t rely solely on fluctuating viewings. Most make commercially sponsored content. Some offer online courses or other services. He, too, has expanded his services – some subscribers now reach out to book personal financial consultations.
Allen Chen
YouTuber
Some people can’t solve their issue by watching videos. So, some send me a direct message, or they fill in a form I have, to book a consultation with me.
If Chen breaks his income down, 20% of it comes from media. The biggest earner is financial consultations, which comprise 40% of his income. Financial planning is 20%, and the final 20% is online courses.
Chen recommends that rookie YouTubers find three to five areas of expertise, and post regularly to test the waters and see what viewers like. That’s how to quickly zero in on a profitable niche.
2023-05-22