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14 August 2018

A Streaming Success: How Channels Like YouTube Create Child Millionaires

A Streaming Success: How Channels Like YouTube Create Child Millionaires

Before you tell your kids or grandkids that video games and social media will rot their brains, you might want to find out if they’re making any money from it. Video and streaming services like YouTube and Twitch are enabling young people (20-somethings, teens and even younger) to become millionaires by just playing video games, opening up new toys, applying makeup and doing other “useless” things. If you don’t believe us, ask the kids!

Ryan of “Ryan ToysReview” on YouTube is a 7-year-old who made $11 million in revenue last year. What does he do? He gets new toys in the mail, opens them on camera, and reviews them. That’s it! Obviously, the production is a family affair, but Ryan is the star of the show. And Dallas-area identical twins Brooklyn and Bailey McKnight are like any teens heading off to college (they’re attending Baylor University in the fall), except they have a YouTube fashion and beauty empire estimated to be worth $1 million

Most of the richest YouTubers and streamers have now aged into their late 20s. Richard Tyler Blevins (aka Ninja) makes $500,000 a month playing the video game Fortnite while streaming on Twitch, Daniel Robert Middleton (aka DanTDM) first amassed his fortune (up to $16.5 million annually) playing the popular game Minecraft on YouTube, and Canadian actress and comedian Lilly Singh (aka ||Superwoman||) earned $10.5 million last year with her YouTube channels.

How do they do it? Streamers on Twitch—which is now owned by Amazon and has hundreds of millions of viewers—make money from their fans, who purchase Twitch Bits to have streamers read personal messages during live broadcasts and who can even donate directly to their favorite Twitch stars.  YouTubers make money from advertisers, sponsors, and affiliate marketing. The more subscribers and views they have, the more they earn from these sources. And the opportunities there are only growing: The number of YouTubers earning more than $100,000 has increased by more than 40 percent annually.

So before passing judgment on the lazy kids in your life, find out if their lazy antics are making them more than a summer job would or maybe even more than what you’ve earned in your lifetime.

Image Copyright: yarruta / 123RF Stock Photo

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