Thursday, December 11, 2008

How to Make a Living During the Recession?


The NYTimes had a story yesterday about YouTube partner Michael Buckley — among others — who are benefiting financially from the video sharing site. YouTube places advertising within and around its partners' videos. Though YouTube declines to say how much money its partners are making, Buckley told the paper he makes $100,000 annually.

"Mr. Buckley quit his day job in September after his online profits had greatly surpassed his salary as an administrative assistant for a music promotion company. His thrice-a-week online show 'is silly,' he said, but it has helped him escape his credit-card debt."

Buckley, a former host of a weekly show on a Connecticut public access channel, had minimal upfront costs: $2,000 for a camera, a $6 backdrop, and lights from Home Depot.

Of course, those looking for a get-rich-quick-scheme, the article notes that building an online audience can take time:

"In a time of media industry layoffs, the revenue source — and the prospect of a one-person media company — may be especially appealing to users. But video producers like Lisa Donovan, who posts sketch comedy onto YouTube and attracted attention in the fall for parodies of Gov. Sarah Palin of Alaska, do not make it sound easy. 'For new users, it’s a lot of work,' Ms. Donovan said. 'Everybody’s fighting to be seen online; you have to strategize and market yourself.'"

In related news, the Flyer's cover story this week is "13 Upsides to the Downturn ..." The story cites better public health, no more credit card debt, and a new crop of entrepreneurs as positive aspects of the recession. So, you know, it's not all bad.

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