I'm making about $100 a month from videos I filmed 6 years ago. It's not enough to live on, but it's nice to have some extra income without lifting a finger.
It's monetized by content owner not channel owner. They'll let you have a video on your channel but ad revenue won't be yours. Source: I have a few videos licensed with content licensing agency.
Also read this case study. Guy grew his YouTube channel to over 100k subscribers in less than 2 years so he knows what he is talking about. https://dollarsanity.com/make-successful-youtube-channel/
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