Have you ever scrolled through YouTube and wondered how people make a living on the platform?
Not only are people making a living, but many are earning passive income and absolutely crushing it on YouTube, and you can too.
If you dream of turning a hobby into a lucrative hustle, don’t go anywhere!
We will share with you 8 of the most profitable niches on YouTube right now.
Picking Your Niche
If you want to generate some serious passive income on YouTube, there are a few things you have to understand.
First, picking the right niche is the most crucial step.
So ask yourself, what are you interested in? What do you know about?
Pick your niche first to help you create better content for your target audience and identify the best monetization strategies.
Second, you need to consider a very important metric: CPM, or cost per mille. This is how much YouTube’s Partner Program pays its content creators for every 1000 ad impressions, so look for a niche with a high CPM, like the ones we cover below.
There are, of course, many ways to earn money on YouTube. Aside from ads, you can also make money by including affiliate links, selling your own merchandise, and creating sponsored content.
To earn passive income on YouTube, you can either build up your channel personally over time and then reap the rewards, or you can create a faceless channel so you don’t have to appear in the videos and you’re not tied to your brand.
When it comes to earning potential, the right channel in the right niche can earn anywhere from 5 figures to over a million dollars per month, passively.
But which niches are the most lucrative?
Best Niches for YouTube Passive Income
The following niches have the potential to earn a steady stream of passive income in 2023.
Cars and The Automotive Industry
For this niche, you can create videos reviewing newly released car models, comparing different cars, or offering a close-up look at various aspects of a specific car, such as the interior.
If you’re good at car repair, you can teach people how to fix their cars, and if you have access to exotic or vintage cars, you can show them. You can share news about the automotive industry, share car buying tips, or even document your experience driving certain cars.
There’s no shortage of interesting approaches you can take in the car niche.
Business, Personal Finance, and Investment
Business storytelling is a very lucrative niche on YouTube.
Videos that tell stories about different businesses and how they became successful or went bankrupt are extremely popular. You can make documentary-type videos where you don’t even appear; just tell the story in a unique and engaging way.
Biographical videos about business people, leading investors, CEOs, etc., generally also garner a lot of views as well
Personal finance guidance, investment advice, budgeting, stock market investing, and trading tips also have a healthy CPM.
Make Money Online
It should come as no surprise that teaching people how to make money online is making people money online.
Now more than ever there’s demand for this information and expertise, as people are looking to create their own online business.
There’s no shortage of topics you can cover in your videos, such as how to make money dropshipping, how to grow a blog, and how to sell online courses. You could also interview successful entrepreneurs and business owners.
Education and Tutorials
This is a very broad, lucrative niche with countless possibilities on YouTube.
All you need to do is focus on a common problem people have and then help them solve it with your video. For example, you can create teaching videos on how to build a bookshelf, how to use a software program, or how to use a specific brand of camera.
This niche can also lend itself to brand deals and partnerships, and you can create closely related products, such as instruction manuals and ebooks, templates, downloadable checklists, and much more.
Fitness and Health
Like the finance and investment niche, this space requires you to have personal experience. Fitness and health is very broad, so it’s important to niche down. As they say, the riches are in the niches.
You can create videos around training for a marathon, yoga for pregnant women, working out at home, or a specific sport you excel at.
If you know your way around SEO and online marketing, get ready to rake in the big bucks. This is one of the best niches for passive income on YouTube.
This is a highly competitive space, so it’s important to stand out and niche down. Focus on one aspect of digital marketing and strive to become the absolute authority.
Topics you can cover include email marketing, social media marketing, e-commerce marketing, SEO, software reviews, how-to videos, or PPC.
Gadgets and Tech
Videos talking about the latest gadgets are extremely popular on YouTube, so if you have some cash to get started, this is a niche with a lot of earning potential.
In the beginning, you’ll probably have to purchase your own gadgets and review them, but as you grow your following, advertisers will likely send you their products to review.
If you receive affiliate commissions from your tech reviews, you can earn a pretty penny in this niche.
If you enjoy playing video games and talking about it, this may be the niche for you.
YouTubers can earn big bucks making videos with game walkthroughs, strategies and tips, and critiques and reviews, and they can also live stream their gameplay, experiment with game mechanics, and cover professional gaming tournaments.
Now that you’re in the know, it’s time to get started.
From fitness and health to gadgets and tech, there’s a niche out there for everyone.
While it’s a good idea to keep in mind the most profitable niches on YouTube, your success will also depend on your dedication and passion for making content that stands out.
So pick a niche that’s potentially lucrative but also right for you, and start creating!