How to Make Money on Social Media in 2024: Top 10 Ways

How To Make Money On Social Media

Whether you’re looking to make extra money on the side or find more customers for your existing business, here are all the ways to make money on social media in 2024.

With this guide, you will learn how to make money on social media, and how to scale your presence as an online entrepreneur too.

Don’t just pass the time on social media—turn it into income. From becoming an influencer to joining affiliate programs, you can choose numerous ways to make money on social media.

Here are ten ways to make money on social media in 2024!

Here are the top 10 ways to monetize your social media

  1. Become a micro-influencer: Partner with brands aligned with your audience’s interests for sponsored posts, stories, or live streams.
  2. Join affiliate programs: Share affiliate links for products you love and earn commissions on purchases made through your unique link.
  3. Sell your own products or services: Use social media as a platform to showcase and sell physical or digital products, or offer professional services.
  4. Create and sell exclusive content: Build a paid membership community offering access to premium content, workshops, or early releases.
  5. Offer coaching or mentorship: Leverage your expertise to coach individuals or small businesses, charging for consultations or online courses.
  6. Monetize platform-specific features: Utilize features like live shopping, tipping, or subscriptions offered by platforms like YouTube, Instagram, or Twitch.
  7. Sell your own merchandise: Design and sell branded merchandise like apparel, mugs, or stickers related to your content or community.
  8. Host online events or workshops: Leverage your social media reach to organize and sell tickets to virtual events or workshops related to your skills.
  9. Create sponsored video series: Partner with brands to produce sponsored video content, integrating their message authentically into your format.
  10. Run social media ads for local businesses: Offer social media management services to local businesses, helping them reach their target audience through paid advertising.

Ahead, I cover exactly how to make money on social media. You’ll learn about:

  • How much you can earn per 1,000 views and per 1 million views
  • How many followers you need to get paid
  • And more…

Let’s go!

Did you know? TikTok and YouTube are currently the best social media platforms for making money. Scroll to the FAQ section to learn more social media money facts.

How to make money on Facebook

How to make money on Facebook

Facebook has an incredibly high number of active users: more than 3 bn, compared to Instagram’s 2 bn and TikTok’s 1.2 bn. 

Facebook users also have many options to make money, from affiliate marketing and running ads through Messenger to selling items on Facebook Marketplace.

There are several ways to make money on Facebook. Here are the most common:

  • Facebook Marketplace: Research hot-selling items related to your niche on Marketplace. Source quality products at competitive prices to ensure profitability.
  • In-stream ads: If you have a Facebook page with a large and engaged audience, you can enable in-stream ads on your videos. This allows short ads to play before, during, or after your videos, and you earn money based on views or clicks.
  • Facebook Stars: As a creator, you can enable Facebook Stars on your live streams and Reels. Viewers can purchase Stars to show their appreciation, and you receive a portion of the revenue.
  • Branded content partnerships: Collaborate with brands that align with your audience and content to create sponsored posts, videos, or live streams.
  • Sell your own products or services: Use Facebook as a platform to promote and sell your own physical or digital products, or offer consultations or services.
  • Paid subscriptions: Offer exclusive content, early access, or community features to fans who subscribe to your page for a monthly fee.
  • Run paid online events: Host workshops, webinars, or other online events that your audience can pay to attend.
  • Drive traffic to your website or store: Use Facebook to attract visitors to your website or online store, where they can convert into paying customers.
  • Affiliate marketing: Share informative and engaging posts highlighting products you genuinely recommend. Disclose affiliate links clearly and comply with Facebook’s advertising policies.
  • Messenger ads: If your audience interacts heavily on Messenger, explore targeted ads within relevant groups.

Check your Facebook monetization eligibility

To check your eligibility, go to your Creator Studio and click the Monetization tab. If your page becomes ineligible, Facebook will notify you via the Monetization tab in your Creator Studio, along with the reason for ineligibility. 

How to make money on YouTube

Making money on YouTube takes effort and audience building, but here’s the gist:

YouTube Partner Program (YPP)

  • Ads: Display, overlay, and video ads generate revenue based on views/clicks.
  • YouTube Premium: Earn a share of subscriber fees when they watch your content.
  • Fan Funding: Features like Super Chat, Super Thanks, and channel memberships bring direct support from viewers.
  • Merchandise: Sell branded products linked in your videos or descriptions.
How to make money on YouTube

Beyond YPP

  • Affiliate marketing: Promote other companies’ products and earn commissions on sales.
  • Sponsorships: Partner with brands for sponsored content or product placement.
  • Sell your own products/services: Use YouTube to showcase and sell your offerings.
  • Create paid content: Offer exclusive content or early access to paying subscribers.

Your YouTube monetization eligibility

You must have at least 1,000 subscribers and 4,000 watch hours, or 1,000 subscribers with 10 million public Shorts views within the last 90 days. Once you reach either limit, you can apply to join YouTube’s Partner Program and monetize your channel views.

How to enable monetization on YouTube

  1. Sign in to the YouTube account
  2. Click the icon for your account in the top right corner
  3. Click YouTube Studio
  4. Select Other Features > Monetization (in the left menu)
  5. Read and agree to the YPP terms and eligibility requirements
  6. Create a Google AdSense account or connect to an existing one to your channel 
  7. Set your monetization preferences

How to make money on Instagram

How to make money on Instagram

Making money on Instagram is easier than you think, but it requires effort and audience building. I’ve got all the tips for getting paid here:

Partner with brands

  • Become an influencer: Collaborate with brands on sponsored posts, stories, Reels, or IGTV videos. Promote their products or services to your audience in exchange for payment or free products.
  • Affiliate marketing: Promote affiliate links in your bio or content. Earn commissions when someone makes a purchase through your link.
  • Brand ambassador: Represent a brand long-term, creating consistent content and promoting their values.

Sell your own products or services

  • Open an Instagram Shop: Showcase and sell physical or digital products directly through Instagram.
  • Offer services: Use Instagram to promote freelance work, consultations, or other services you provide.
  • Sell digital products: Sell e-books, courses, music, or other digital creations through your bio or website linked in your profile.

Monetize your content

  • Instagram Creator Marketplace: Connect with brands directly for sponsored content opportunities. (Currently in beta)
  • Badges: Enable “Badges” on live streams and Reels. Viewers can purchase badges to show their support, and you earn a portion of the revenue.
  • Subscriptions: Offer exclusive content, early access, or community features to paying subscribers.

Other methods

  • Dropshipping: Sell products from other suppliers without holding inventory.
  • Create and sell Instagram presets or filters.
  • Offer Instagram marketing services to businesses.

Success on IG requires a large and engaged following. Create high-quality content consistently and use relevant hashtags.

Related: How To Become A Food Blogger on Instagram and Get Paid (2024)

How to make money on TikTok

How to make money on TikTok
  • TikTok Creator Fund: Join the program for direct rewards based on views and engagement. How much does TikTok pay per view? Find out in the FAQ section below.
  • Branded Partnerships: Collaborate with brands for sponsored content, challenges, or product placements.
  • Live Gifts and Rewards: Earn from virtual gifts and donations sent by viewers during live streams.
  • Sell Merchandise: Create and sell branded merchandise through TikTok Shopping.
  • Affiliate Marketing: Promote products through your link and earn commissions on purchases.

How to make money on X (Twitter)

How to make money on Twitter
  • Monetize with Twitter Ads: Partner with Twitter to display ads within your tweets. (Limited availability)
  • Sponsored Tweets: Collaborate with brands for promotional tweets targeting your audience.
  • Affiliate Marketing: Share affiliate links in your tweets and earn commissions on sales.
  • Sell Products or Services: Promote your own offerings directly through tweets or your profile.
  • Super Follows: Offer exclusive content or perks to paying subscribers (limited rollout).

How to Make Money on Pinterest

How to make money on Pinterest
  • Promote Affiliate Products: Share affiliate links of relevant products within your pins.
  • Sell Your Own Products: Showcase and sell physical or digital products through Pinterest Shopping.
  • Sponsored Pins: Partner with brands for sponsored pins promoting their products to your audience.
  • Pinterest Idea Pins: Earn rewards based on views and engagement with Idea Pins (limited rollout).
  • Freelance Services: Offer Pinterest marketing services to businesses or individuals.

Related: How To Make Money On Pinterest: The Complete Guide

How to make money on WhatsApp

While directly making money through WhatsApp itself isn’t possible, there are various strategies to leverage the platform for indirect income generation.

Here are some options to unlock the potential of WhatsApp with these tips on how to make money.

Build a Community & Monetize

  • Create a valuable group/channel: Gather people with shared interests (e.g., fitness, finance, gaming). Offer exclusive content, discounts, or early access to paid courses/events.
  • Run sponsored posts/advertisements: Partner with relevant brands to promote their products/services to your engaged audience.
  • Affiliate marketing: Share affiliate links of relevant products within your group/status updates. Earn commissions on purchases made through your links.

Sell Your Expertise or Products

  • Freelance services: Offer consulting, coaching, or other services directly through WhatsApp chats/calls.
  • Sell digital products: E-books, courses, music, etc., can be promoted and sold through WhatsApp.
  • Handmade crafts or physical goods: Showcase and sell your creations through personalized interaction and secure payments outside WhatsApp.

Leverage Customer Engagement

  • Small businesses: Use WhatsApp for customer service, marketing, and order management. This fosters better connections and potentially increases sales.
  • Personal trainers/coaches: Utilize WhatsApp for personalized communication, schedule management, and progress tracking with clients.
  • Local delivery services: Take orders and communicate directly with customers via WhatsApp for a more personalized experience.

Important notes:

Building trust and offering valuable content/services is crucial for attracting and retaining an audience. Adhere to WhatsApp’s policies and avoid spamming or intrusive marketing tactics.

How to make money on LinkedIn

  • Sponsored Content: Collaborate with brands for sponsored posts targeting your professional network.
  • Consulting or Coaching: Offer your expertise through consultations, coaching, or online courses.
  • Freelance Services: Promote your freelance services to potential clients on LinkedIn.
  • Affiliate Marketing: Share affiliate links relevant to your industry and earn commissions on sales.
  • Sell Online Courses or Products: Use LinkedIn to promote and sell your educational content or digital products.

How to make money on Spotify

Making money on Spotify can be tough, but there are several methods you can try, depending on your skills and resources.

Here’s a breakdown:

For Musicians and Podcasters

  • Royalties: This is the most common way artists and podcasters earn money on Spotify. Streaming. You earn a small amount (between $0.003 and $0.005) per stream, depending on various factors like your location and listener subscription type. Downloads. Some listeners may download your content, which brings a higher payment per download. Mechanical licenses. These allow your music to be used in podcasts, advertisements, etc., generating additional income.
  • Distribution & Rights Management: Distribute your music or podcast through a distributor like DistroKid or TuneCore. They handle uploading, royalty collection, and reporting.
  • Spotify for Artists: Claim your artist profile for features like analytics, playlist pitching, and pre-saves for new releases.
  • Merch & Fan Funding: Sell merchandise through Spotify or leverage features like Fan Funding (Super Likes, Super Thanks, Channel Memberships) for direct support from fans.
  • Patreon or other platforms: Offer exclusive content or early access on other platforms like Patreon for additional income streams.

For Non-Musicians/Podcasters

  • Sell through affiliate marketing: Promote music-related products or services through affiliate links and earn commissions on sales.
  • Create Spotify playlists and monetize them: Build large, engaged playlists and get paid to review songs from artists or collaborate with brands for sponsored placement.
  • Podcast promotion: If you have a podcast with a large audience, you can offer paid advertisements or sponsorships.
  • Sell educational content: Create courses or ebooks related to music production, podcasting, or the music industry and sell them online or through your Spotify profile.
  • Offer consulting services: If you have expertise in the music or podcasting industry, offer consulting services to artists, podcasters, or businesses.

How to make money on Soundcloud

Here are 10 creative ways to make money on SoundCloud

  • Monetize your music: SoundCloud ha a monetization program that allows artists to earn money from their music through advertising and subscriptions. Artists need at 1,000 lifetime plays to qualify.
  • Sync your music: You can license music be used in films, TV shows, ads, and other media. Sites AudioMicro help connect artists and sync licenses.
  • Sell merchandise: Sell t-shirts, hoodies, vinyl, CD, and other merchandise on your own site through platforms like Teespring and Print. Having merch can earn ongoing.
  • Perform live: Monetize your following concerts and shows. You can also charge for virtual performances or lessons.
  • Create tutorial/lesson content: Make tutorial videos or online teaching people how to make music. Host them own site platforms like Udemy.
  • Sell beats/samples: Create instrumentals, samples, or loops and them individually or in packs on sites like BeatStars.
  • Offer paid memberships: Give members content, early releases, discounts on merch through a paid membership on Patreon or similar.
  • Create sponsored content: Pitch brands to sponsor your music in for a fee Clearly disclose sponsorships per F guidelines.
  • Earn tips: Add tip jars or donation buttons so fans directly support your work financially.
  • Partner with labels: Pitch your music to record labels who can with promotion in exchange for a cut of revenue.
  • Create podcasts: Host music-related podcast and monetize through ads or a premium subscription option.
  • Sell digital downloads: Offer individual song or full album downloads for purchase on website stores like Bandcamp.
  • Crowdfund projects: Use Kickstarter or Indiegogo to crowdfund new music projects, videos merchandise in exchange perks.

What are some other was musicians can make money?

These platforms also offer opportunities for musicians to earn money through their music and audio content.

  • SoundCloud: Allows musicians to upload, promote, and share their music, potentially earning revenue through SoundCloud Premier and other monetization options.
  • YouTube Music: Offers opportunities for musicians to earn money through advertising revenue, subscriptions, and other monetization features.
  • Apple Music: Provides a platform for artists to distribute and monetize their music through streaming and downloads.
  • Tidal: Offers a platform for artists to share and monetize their music, with a focus on high-fidelity audio and exclusive content.
  • Deezer: Provides a platform for artists to distribute and monetize their music through streaming and other promotional opportunities.

More ways to Make Money as a Musician Online

  • Ghost producing
  • Music teaching
  • Merchandise sales
  • Music licensing
  • Patreon for musicians
  • Twitch for musicians
  • Crowdfunding for musicians
  • Sell beats and samples
  • Live performance income
  • Music streaming revenue
  • Music production
  • Music publishing
  • Make money playing gigs
  • Earn streaming royalties through digital distribution
  • Fan subscriptions
  • Session work
  • Submit your work to music blogs
  • Try Fiverr
  • Book a livestream concert

How to make money on social media FAQ

Can you make money on social media?

Yes, you can make money on social media. Many platforms have features that allow creators, influencers, and brands with social media pages to monetize their accounts and content. This includes running in-stream ads during videos, collaborating with other companies and influencers, creating a subscription service, running paid online events, and using the social commerce features to drive visitors directly to your ecommerce store.

How many followers do you need on social media to make money?

The more followers you have, the easier it is to make money. Some social media monetization features (such as in-stream Facebook ads and fan subscription services) have minimum follower, view, or page type requirements. This doesn’t mean it’s impossible to earn money though. Other options like social commerce features, driving traffic to your store, and partnering with other brands and influencers don’t have minimum requirements.

How much does TikTok pay creators?

How much does TikTok pay per view? Top creators have revealed that TikTok’s Creator Fund program pays between $0.02 and $0.04 per 1,000 views. That’s $20 to $40 per million views.

What are the top social media sites to consider in 2024?

This list is ranked by the latest data on monthly active users. Source: Buffer.com

  1. Facebook — 3.05 billion
  2. WhatsApp — 2.78 billion
  3. YouTube — 2.49 billion
  4. Instagram — 2.04 billion
  5. WeChat — 1.32 billion
  6. TikTok — 1.22 billion
  7. Telegram — 800 million
  8. Snapchat — 750 million
  9. Kuaishou — 673 million
  10. Sina Weibo — 599 million
  11. QQ — 571 million
  12. QQ — 558 million
    Publish Flawlessly. Analyze Effortlessly. Engage Authentically.
  13. X (formerly Twitter) — 550 million
  14. Pinterest — 465 million
  15. Reddit — 430 million
  16. LinkedIn — 424 million
  17. Quora — 300 million
  18. Discord — 154 million
  19. Twitch — 140 million
  20. Tumblr — 135 million

The Bottom Line: Diversify your earnings

Don’t get tied to just one platform. Diversify so that you have other streams of income in case of algorithm updates. This is especially important today, when the organic reach of social media sites are dropping and consumers are becoming more skeptical of paid advertising campaigns.

Written by Gina Elizabeth

Hey there! I'm Gina. Here you'll find lots of recipe & lifestyle ideas! Thanks for stopping by my little corner of the internet--I’m glad you're here :)