Steemit vs. YouTube Revenue Streams
Steemit only pays out for seven (7) days, right? After that the content can no longer pay the creator... do I have that right?
I've been struggling with this question for a few days now. On YouTube I create a video and hope it does well because, perhaps... just maybe it will live on as a very popular video that will pay me forever. As long as that video is getting views, I am getting paid.
However, here on Steemit the content has one week to prove itself for reward, then nothing... forever.
Maybe I have it all wrong. I'd love some insight. Maybe a link in the comments to an article that clearly explains that?
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Here is how I see it:
I have invested the same amount of time here as I did when starting my youtube channel. I have been on youtube for 10 months now, yet in less than three weeks, I have earned more than twice here on steemit than what I am currently earning per month on youtube. Though it is a bummer that it seems that once the 7 days is up, that is it, it seems that the payoff is still better. As one grows and gets more followers and builds their steem power, the opportunity to earn more increases. Even if you have a bunch of posts that only earn a a few cents to a dollar, that one big post seems to not only make up the difference, but far more.
For now, I am doing both and will keep on, if I can get a youtube video to earn a few dollars more simply by sharing it here too, it is worth it. Then there are those photos or writings about whatever is on my mind that I would normally post on facebook where I earn nothing, if post it here first, then share it to facebook, even if I only gained a few cents, it was still something that did not cost me but a few seconds more of the time I would normally put into it.
Plus, as you gain momentum, you can find a creative way to take that post or video that only earned a few cents in the beginning because of low number of followers, and get it out there again with a new face. Such as my chocolate recipe - down the road, I will put it up again with a new picture of my latest batch and a recipe variance.
Upvoted. This is exactly my thinking. The launch of SteemQ ( ahem... @steemq ??? ) may be a great game changer for taking YouTube out of the equation. Until then, ditto to Rain's methodology. Oh yeah, I think you've got it right re: the payout only being 7 days.
Why does Youtube need to be taken out? Can't they both exist? Competition fosters innovation and forces everyone to be on top of their game.
That is a terrific testimonial. Yes, you can build a good following here and ultimately earn more. If you begin to establish yourself on Steemit now, then you'll be in very good shape as it begins to grow and add users.
Thank you donkeypong, that is encouraging!
I'll do both for a good long while too, until I decide one is a waste of time :)
Do you think this will encourage people to repost stale content ad nauseum?
There are some strategies that may be unique to Steemit. There is certainly the option to remove most of the content from a post just before the 7-day payout period is over.
People have done it -- I did it early on when there was a 30-day payout period -- with no repercussions. But it makes it hard to refer people to your past posts, then, when the opportunity comes up. That's why I stopped doing it.
Then you would repost the content sometime in the future, just like people do on Instagram, Facebook, Twitter, G+, and all the other platforms where it's hard to tell what people have done in the past.
Simply reposting content is an option, even if you don't carve out your content from earlier posts. I haven't seen anyone bashed for that at all, even when they say that the content is a repost.
Of course, reworking and reframing past content is always OK. It gives people a different way to hook into your content.
What is not good is using someone else's content as the substance of your own post. Music videos seem to be an exception. Also, there's always people dropping links to content not their own, but they aren't good examples to follow.
Making a post that is, essentially, someone else's content -- like video with a description of that video or its source, or a blogger's post, has created conflicts in the past here on Steemit. It's one of the most recurrent issues.
It's fine for those of us with our own content to bring it onto Steemit. But the goal is not to bring everything we can find elsewhere on the Internet, into Steemit.
Hope that helps some!
Yes, it pays once. Eventually, I hope there will be some way for longer-term topics to receive ongoing royalties. That would be useful for FAQs or Wikipedia-type material, for example. But for now, one payment, and that's partly because the blockchain has to process everything, so more payouts mean more transactions.
I know almost nothing about blockchain. I suppose it will all make more sense as I learn more. Thank you :)
Please feel free to contact me at Steemit.chat if you'd like to talk or have questions.
Thank you. I've only been over there a couple times. I'll check it out again.
That would make a huge difference for me, as I'm interested in producing real quality ever-green material in video. This is part of the reason why I've invested so much on youtube but see that it has recently going the other way towards perishable content.
You bring up a great point. Nobody is going to spend weeks or months worth of time and invest money into creating a project solely for this platform if it can only earn for 7 days. Large projects need recurring passive income to make it worth it for creators. I'm not talking about making a vlog or writing a short post, I'm talking about someone making a documentary or an in depth series.
I wish I could answer that to you, but I also want to know. It is one of the reasons I'm thinking twice before investing serious time here. I'm sensing this platform can become more of a game and I want a place that values and recognizes quality and isn't so disposable. (I suppose that doesn't exist). I had 2 posts do well, but it still seems like its all about luck and not really consistency, at least for a long while.
There's an element of luck, but I think it reflects that Steemit is a complex system. There's a specific amount of money available every day. There's no telling what other posts will be made during the day, which will affect the distribution of that total amount. Sometimes you can see the amount for your post decline as more votes get made on other posts, redistibuting the available funds.
Timing matters, too. If everyone posts in the morning, then new posts will just get pushed off the list of new posts, superfast. If fewer people are posting, it will stay up-top longer.
The voting power of the people that upvote you matters, too. Although with Hard Fork 19, it doesn't matter quite so much (it still does matter). It also matters what the current value of your post is. The more you already have, the more the next upvote is worth.
And then the big-hitters, the whales with lots of SP, can show up to really increase a payout or reduce the payout if they think it's too high or have some other reason to flag your post with some level of their SP.
That is very good explanation. Thanks!
Glad it made sense. Steemit is an entire ecosystem, with rules and relationships still evolving a lot. It's like you are here in the early days of YouTube. Just think of all the changes that have happened there over the years!
I noticed those two posts. Feels good to have some success/reward like that. I'm certainly not ditching the other sites at this point, but I do like a lot about Steemit. I suppose it can't hurt to just keep testing the waters and placing content across the different sites. However, I am tempted to give up on FB as anything other than a place to dump content and keep up with our FB YT group :)
The success was so random though so I have no clue what to do next. I'm not the gambling type, so this type of thing doesn't appeal to me. Luck is such an unjust concept it sickens me. Anyhow, yes, there is absolutely no future in Facebook. I never really liked it, and it seems there is absolutely nothing to gain from it.
I'm just enough of a gambler to keep tossing out new ideas for a while. If the reward to effort ratio is not to my liking I'll dump it. FB is history. I gave it a good go for a while and now realize it is going NOWHERE. Instagram is fun and easy so I keep it for now, but there is no financial reward. Tumblr is basically an extention of Instagram so it's easy enough. I don't really maintain any community there. I tried for a while, but it's a black hole as well. Same goes for G+. I have some luck on YouTube for community, but only after years of effort... too many years. LOL I am, however, glad to have connected with a few good people like you.
Youtube does have a good sense of community. That's the best thing about it still. I hope we can find that here too. It's been good to get to know great people like you Blake
I wonder if it would do well to be "themed" here on Steemit like on YouTube. I was looking at your Steemit content and thought you could theme yours around your sketches. Maybe do drawing tutorials. just a thought.
My own view is that it helps to connect with several topics and communities, not just one. Eventually, it's inevitable that Steemit will have communities, like Reddit, Facebook, or G+. Using tags effectively helps, too, because Steemit does not have communities yet.
But I see plenty of successful people that cover multiple topics. Making it easy for people to tell what a post is about seems more effective.
You are saying only do art stuff and forget the gardening here? I've been struggling with this on youtube also. I'll confess that having to produce for the algorithm made me die inside a bit. I originally wanted to do more like episodes that were not "search" oriented. I love tutorials, but I feel that there is way too much gardening how-to out there, I don't want to just keep doing more. Then again there is too much art also. I actually wanted to do story telling, but I doubt it would go anywhere.
Maybe not ONLY art stuff, but what if that was your focus? Forget about gardening as your theme, unless you love it. I see a greater passion in your for sharing your art than the garden. Maybe Steemit is your platform for that. There is never too much art! LOL ... and never too much of someone that wants to share the passion for art and show others how to get more into it. ... and OH YES, try story telling! I wanna see what you got there.
AND O MY WORD People! Get out and visit your followers. Don't be rude. Go talk to the people who talk to you ... in their own world ... on their own posts. It's critical. Huge. Go visit at least 12 different people that you don't know, each week. Technically more would be better but realities. AND Find at least 6 people that entirely new to you, who have an active posting habit, AND who have at least 10 to 15 higher reputation points ... In a topic that is relate-able to the things you do (garden, photograpy, video editing, whatever).
This is something I've been trying to do more of lately. I love the community possibilities here. Time is limited, but I'm aware of the need.
Awesome! This is music to my ears! There really is nothing like community on the Internet. And this one is much less em violent than youtube. Honest. I don't talk over there for that reason!
Keep in mind YouTube pays you once a month when you reach $100, that can take years to reach, on here, you can cash out your SBD when ever you want, no thresholds.
True. I remember my first $100 check from google... I felt like a rich man! Haha
Someday I'll cash out here just to see how that process goes.
I never knew about the 7 day thing, that's a huge letdown to me personally. I imagine it takes some time to build up a following so all the content I create early on is pretty much wasted. I hate to say wasted as creating quality content is never wasted whether your earning or not and it is helping you build a following but once you stop posting on here you earn for 7 days and then nothing else ever again. I make a pretty decent passive income from Youtube even if I stopped today and woudl continue to do so. That's a bit of a letdown.
I'm doing the same thing, basically. Trying to learn a new platform and cross posting between YouTube, My Facebook page and here. Hopefully I can learn some things from you more experienced folks. New follower here!
@sarkhomestead I followed you :) I'd also like to invite you to the Homestead Friend Train!
I've had the same thoughts along those lines too. I havent made anything off YT yet, but theres always the possibility of a post or video going viral. Steemit should payout something if an old post goes viral. Afterall, viral means more exposure to new users. Maybe a threshold where if an old post gets more than X amount of views, it opens up the 7 day window again. @aggroed thoughts?
Something like that would be good. Or... maybe just a longer payout period at a reduced rate. Something.