YouTube offers a Partner Program to help you easily monetize your videos on YouTube. Once you are accepted into the program, upload a video “that you have created” on to YouTube, enable advertising for that video and wait for the money to pour in.
The current split is 55-45 so if Google sells $100 worth of advertising against a YouTube channel, the partner’s share is $55. But how much many can your really make off YouTube?
The video channel has accumulated over 33 million views in the last 18 months and the total advertising revenue that the channel generated from YouTube in the same period is around $90k. That’s about $2.7 per 1000 views (CPM) which isn’t an impressive deal considering the kind of effort and resources that go into producing videos.
The advertising revenue is almost directly proportional to the eyeballs.
For a majority of YouTube partners, the advertising revenue from videos may help pay the utility bills but only a few can expect to strike it rich. On the positive side, as @Jason says, YouTube does help build your brand on the Internet.