As we strategy the tip of 2024, I’ve been monitoring the funds of my content material creation and thought it may be insightful for anybody curious in regards to the monetary aspect of it. On this breakdown, I’ll stroll you thru precisely how a lot I made and the way a lot I spent to maintain this operating.
Let’s begin with earnings. My income comes from two main sources: promoting income from YouTube adverts and the Medium Accomplice Program.
- Advert Income: For the complete yr, advert income totaled simply $412. It’s a small quantity in comparison with the time and power invested.
- Medium Accomplice Program: This month alone, the Medium Accomplice Program contributed $82. I additionally earned $392 from a paid article written in June for a corporation that discovered me by means of Medium. Since that lead got here from Medium, I included it right here.
I’ve turned down quite a few sponsorships since I solely promote instruments I exploit and belief. And since my full-time job covers my bills, I’m not actively centered on monetizing content material at this stage.
Now, let’s have a look at the bills — probably the most vital aspect of the monetary image.
1. Employees & Gear
Nearly all of my bills go towards tools and outsourcing.
- Gear: To supply high quality content material, I invested in a devoted MacBook only for content material creation, separate from my work laptop computer, together with audio tools upgrades just like the Shure MV7 microphone.
- Modifying Prices: After initially dealing with all of the modifying myself, the workload proved overwhelming. In April, I employed a contract editor and raised prices to a hard and fast month-to-month price of $2,000 to replicate the elevated consistency in my content material manufacturing, notably after launching my free Skool neighborhood and full programs.
2. Software program Subscriptions
There are many software program instruments that assist me to maintain the content material creation course of clean:
- Neighborhood Platform: Skool, the place my neighborhood lives, prices $99/month.
- AI & Design Instruments: I exploit ChatGPT (or Gemini) for $20/month and Canva at $120/yr to help content material creation and presentation designs.
- Studying & Assist: I’m a part of the Skool Masterclass at $125/month, which supplies insights on operating a profitable neighborhood.
- Extra Instruments: Loom for video internet hosting, Testimonial.to for suggestions, Grammarly, Zapier, and GSuite, which value round $70–80/month.
3. Adverts
Up to now, I’ve spent no cash on adverts, relying solely on natural visitors by means of my content material platforms.
Altogether, my earnings got here to $859, with bills totaling $21,105, leading to a web lack of -$20,246 in 2024.
With a loss like this, you would possibly marvel why I hold going. For me, it’s a long-term funding. I’m centered on constructing belief and creating assets that present worth past what many paid choices supply. And the feedback and suggestions I obtain reaffirm that this strategy is resonating with others.
Wrapping Up
That’s the monetary snapshot of what it’s taken to maintain my content material creation going this yr. It’s all a part of constructing one thing significant that can repay over time.