Millionaire Explains How To Earn Money Online By Creating Content | My First Million Podcast

Name: Millionaire Explains How To Earn Money Online By Creating Content | My First Million Podcast
Uploaded: 2020-05-28T20:00:31+00:00
Duration: 1 min 36 s
Channel: Sam Parr
Description: In this segment of the My First Million podcast, the speaker argues that subscription‑based models (newsletters, courses, paid communities) are the most…

28 May 2020 · 2 min

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1:36

In this segment of the My First Million podcast, the speaker argues that subscription‑based models (newsletters, courses, paid communities) are the most effective way to monetize content because they generate recurring revenue and provide a financial buffer during economic downturns. He stresses that successful subscription products must be planned in advance, giving an example of a weekly trend newsletter called “The Hustle.” While praising the stability of annuity income, he acknowledges a key limitation: only creators who already rank in the top tier of their niche can reliably monetize via subscriptions. Niche or obscure creators may struggle to find a paying audience, though a single standout piece of content could occasionally break through.

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What's your favorite way, ways for monetizing content? Uh, for me right now, I don't think I've ever really monetized content the way I would like to, like subscription, but okay, so, but let me answer your question. Subscription is the best way to monetize most content, but again, you have to plan for that in advance. So you have to say, I'm gonna make a subscription called the, uh, subscription product called The Hustle with with new ideas and trends, uh, every week made by my great analysts and people are willing to pay a dollar a month or whatever, $10, whatever it is. And subscription's a great way to monetize because you're not always chasing advertisers. It's this annuity that comes in and helps you even survive in a recessionary environment or like right now. So I love, I think subscription is a, whether it's an online newsletter or an online course or a, a subscription community, like, you know, let's say the Trends Facebook community. I think subscription's my favorite way to monetize, but it doesn't solve the problem of monetizing when you're not already in the top 1/3 of content. Like, like you guys are in, by, in the top 1/10 of 1% of content, you're going to monetize and do very well no matter what model you choose. Whereas the, the bot, someone who writes a newsletter about, I don't know, you know, some obscure kind of taekwondo or whatever, they're not gonna be able to monetize a newsletter necessarily, or someone who's gonna monetize how to mow the lawn better is not gonna be able to monetize, but might have one piece of content that really stands out.