Learn about social media platforms that pay the most money. Learn how you can make money on TikTok, Instagram, YouTube, and Snapchat.
Social media isn’t only for fun anymore. Social networks that pay you are a big deal in the market. About 75% say they use social media to make money. That means you can be one of those people too. The basic idea of rocking any social media is to show yourself where you’re good at. And for businesses, it’s a less costly way to talk to customers and sell stuff. But it’s tough because there’s a lot of stuff competing for attention.
Lots of people want to make money from their social media pages. So to make the most money, you gotta really know how each social media site works and what people like. In 2024, figuring out which social media pays the most is still a big question. This article tries to answer that question. We’ll also throw some light on how to get paid from social media.
Check: Which Social Media Platforms Are Best For My Business?
TikTok is the top paying social media platform right now. With billion plus users, TikTok is a happening place to flaunt talents and land well-paying jobs. Some folks reckon TikTok isn’t as money-making as other social media platforms, but research proves otherwise. Many creators, even those making less than $10,000 annually, claim TikTok is their top money source, leaving Instagram far behind.
To start making money on TikTok, you gotta meet some rules. First off, you need a Pro account with at least 10,000 followers. That means you gotta keep making content and talking with your followers. Also, your videos need at least 100,000 views in the last month to make money.
TikTok’s money system is all about its Creator Fund, buying stuff in the app, and working with brands. The Creator Fund started in 2021 with $200 million, giving you money based on how many people watch and like your videos. TikTok splits ad money with creators, giving you half (50%), which makes it a good place for folks who want to make money with their videos.
Check: Best Time To Post on TikTok in 2024 To Get More Views
After TikTok, Instagram adds to the list of the top paying social media platforms in 2024. You can earn real money on Instagram if you’re creative. Reports say that you can pull in about $17 an hour, which can add up to around $34,624 a year. It proves that Instagram can be a decent money-making gig. But it’s no walk in the park. You gotta keep churning out content, keep audience engaged, and not burn out.
To do well on Instagram and make money, you gotta do a few things first. Start by getting lots of people to follow you and figure out what you’re all about. Making really good posts and talking to your followers a lot helps build a group of fans. Once you’ve got plenty of followers, you can think about working with companies to promote their stuff or selling things directly through the app.
On Instagram, how much money you make depends on what you’re doing. Let’s take a look: You get 55% of the money from ads on IGTV, and Instagram keeps the other 45%. But with Instagram Live badges, creators keep all the cash, although Instagram takes a bit for handling the transactions. These badges are bought by fans during live videos and are a cool way for fans to show love to their favorite creators. It makes the bond between creators and fans stronger and encourages more awesome content.
Check: Best Time To Post on Instagram in 2024 to Boost Likes
YouTube is the best platform for content creators of any type. A report says that YouTubers make about $68,714 a year on average. If they have a million subscribers, they could rake in over $900,000 every year. But how much you earn can change a lot. Usually, once you meet the requirements for the YouTube Partner Program, you get around $0.01 to $0.03 for each view. You can also make money from channel memberships.
Read: 20 YouTube Niches, Country with High CPM Rates in 2024
To start making money on YouTube, you gotta meet some rules from the YouTube Partner Program (YPP). You need at least 1,000 subscribers and 4,000 hours of people watching your stuff in the last year. Once you hit those marks, you can turn on ads and set up channel memberships in YouTube Studio. These rules are the first things you need to do to start making cash and reaching more folks.
You mainly get cash from ads and channel memberships. Ads bring in money when they show up next to videos. Channel memberships work like subscriptions. Fans pay a monthly fee to get special content and perks. Creators earn a cut from ads based on the types of ads and who’s watching. For channel memberships, you set prices and keep 70% of the money. YouTube takes the other 30%.
Snapchat’s payout system have challenges where you can win from $1,000 to $25,000 if your stuff goes viral on Spotlight. A report says Snapchat shells out about $1 million every day for the stuff made on their app. That’s why lots of creators like using it to make money. If your stuff does well, you not only get money but also get noticed by people all around the world, making you more popular on Snapchat.
To make money on Snapchat, you need to follow some rules. First, the stuff you post on Spotlight should follow Snapchat’s rules for people 13 and up. Keep your videos short, less than a minute, and make sure they’re vertical with sound. Don’t try to sell stuff directly in your videos. After you send in your video, Snapchat will check it out. If it’s good to go, they’ll let you know.
Spotlight started in 2020. It allows you to submit your best vertical videos that follow Snapchat’s rules. If chosen, these videos can be seen by people worldwide since Snapchat has a huge 249 million daily users. Depending on how much people like your content and if it follows Snapchat’s rules, you can earn anywhere from $100 to $10,000. To get into Spotlight, you need to have a public profile and a lot of fans who enjoy what you create.
On X (formerly known as Twitter), you don’t get money upfront, but you can make it from your posts. Sponsored tweets pay based on your followers, usually $0.50 to $1.50 per 1,000 followers. People can tip you if they like your stuff, similar to leaving a tip at a restaurant. Twitter’s Tip Jar helps with that, plus other ways to make money from your tweets. We don’t know all the details on earnings, but if you have lots of followers, you can cash in on your Twitter fame.
To make money on Twitter, you gotta meet specific rules. You need at least 10,000 followers and gotta tweet a certain amount every month. Also, right now, the Twitter Tip Jar is only for folks using the app in English, but Twitter wants to open it up to other languages later on. Even with some restrictions, Twitter gives creators good ways to make cash from their stuff.
So if you want to make money on Twitter in 2024, you can help manage accounts, use Twitter Ads, or try affiliate marketing. You can also build your personal brand, sell digital stuff, or host paid events. Plus, you can join X’s Creator Ads Revenue Sharing Program to earn some ad money. Just use your strengths and connect with your followers to explore how you can make money on the platform.
On Facebook, you make money by teaming up with companies and brands. You also earn cash from people watching your videos. You can get $1 to $7 for every 1,000 views, but it can vary based on your video type and the time of year. Creators have a few ways to make money on Facebook. They can put short ads in their videos called ad breaks, which bring in money. They can also offer special content to fans who pay a subscription fee.
Videos are your best shot at making cash. There are four main ways to rock them: selling stuff, getting fans to subscribe, running ads in your videos, and doing live streams. To run ads, you need at least 10,000 followers, 600,000 minutes watched recently, and five active videos. For fan subscriptions, you need 10,000 followers or 250+ regular viewers, plus lots of engagement like 50,000 likes or 180,000 minutes watched recently. During live streams, viewers can buy stars and send them to you, which means more money for you. Facebook wants to help creators make money by getting folks interested and keeping them engaged.
Read: The Best Time to Post on Facebook in 2024 (Guaranteed Results)
Another way is by partnering with brands to promote their stuff. But how much money you make go up and down because of Facebook’s rules and its system. So to keep making money, you need to keep their audience engaged and follow the rules.
Using any social media to make money is a smart move in 2024 whether you’re a creator or a business. We talked about which social media pays the most and found out that platforms like TikTok, Instagram, YouTube, Snapchat, Twitter, and Facebook are like treasure chests waiting to be unlocked. For you, there are plenty of ways to cash in, from TikTok’s Creator Fund to YouTube’s ad revenue and Snapchat’s Spotlight. But remember, success on these platforms comes down to creating content that sticks, and strikes the right chord of your audience.
At First Growth Agency, we will take your online presence to the next level and cash in on the social media platforms.
Hi, I'm Aaqil Abdul Rehman, one of the key individuals behind the success of First Growth Agency. With a spirited blend of marketing savvy and a dash of technical genius, I've dedicated myself to catapulting brands into the spotlight where they belong.
- Aaqil
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