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How to earn income from social media platforms in Azerbaijan?

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In the wake of excessive interest in social networks, the growth of their use for serious profits, questions inevitably arise: how much can one earn on these platforms? Can every active user earn income?

Although we know that advertising generates revenue, many do not know how it is calculated and in what form a user receives money. Let's start with the fact that not every social media platform in Azerbaijan is able to generate income.

Social media expert Vusal Mammadzada told Report that the main issue is the number of the channel's audience.

"As the number of subscribers grows, so does the profit. There are other options. Some platforms themselves offer advertising on a mutually beneficial basis. YouTube is one of such platforms," Vusal Mammadzada explains the principle of their work.

The specialist notes that the service is provided through Google AdSense: "Google offers content developers to activate advertising and receive a certain income. According to the current rules, Google pays 60% of the income to the content developer, and 40% remains for the company. And the company justifies its share by the fact that that California law provides for tax payments and certain expenses."

Although other platforms have similar features, these conditions do not work in some countries. In Azerbaijan, it is also not possible to earn income from each platform. However, a channel with a large audience can itself negotiate with a company, advertise it and receive income. In this case, an agreement is concluded and tax is paid in accordance with the legislation of the Republic of Azerbaijan.

Vusal Mammadzada says that earlier it was more convenient to make money on the YouTube platform: "Google did not impose requirements on content developers. That is, as soon as you opened a channel, you could connect it to Google AdSense and earn money. But now 4,000 watch hours and 1,000 subscribers are needed. A channel that meets these conditions can contact Google. Then the channel is viewed by the company. If the channel did not violate the company's rules, and in the absence of other problems, it is activated. Then the channel receives advertising money, that appears in a video.

“According to Azerbaijani law, YouTube is taxed, like all advertising. After activating the channel, a certain amount will come to your account on the channel. To remove them, first of all you need to register with the tax authorities, open a tax identification number (TIN). Then you go to any bank and transfer funds to your card. From there, the advertising revenue tax is deducted. It is impossible to receive money without opening a bank account and tax registration."

There are few advertisers in Azerbaijan, offering ads for the YouTube platform, so it is very difficult for channels with Azerbaijani content to generate ad revenue. Experts see the reason for weak competition.

"For example, in America, 100 banks place advertisements. Each bank is forced to increase the amount of advertising so that it appears in more videos. And in this case, the content owner earns more. But there are few advertisers in Azerbaijan and the amounts are, accordingly, very low," Vusal Mammadzada says.

According to him, children's channels are the most profitable, since it is in them that the commercial is often viewed to the end.

Mammadzada said that he receives $150 a month from Google, and views reach 300,000-400,000 per month.

Tiktoker Tural Gambarov says that earning on TikTok is different from YouTube: "70% of the profit is retained, and 30% goes to the content owner. With these 30%, a WebMoney online credit card is first bought. The amount is credited first to the WebMoney card, then to the bank account opened in Azerbaijan. There is also a fee and tax on each transaction. As a result, the amount is even lower than 30%. Despite this, the platform is profitable, and the earnings are $700 per month."

How to make money on TikTok?

The most common method of earning income from the TikTok platform is through gifts sent by live guests. For example, an owner of the content goes live, and the guests send him gifts that go to the balance. 30% of this amount is already taxed under Chinese law.

The State Tax Service told Report that individuals' income from various social networks is taxed at a rate of 14% per annum. To do this, individuals must submit an annual report on income tax to the tax authority no later than March 31 of the next year.

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CBA currency exchange rates (16.05.2022)

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According to the official exchange rates of the Central Bank of Azerbaijan for today, the USD remained unchanged at AZN 1.7000, EUR increased by 0.05% to AZN 1.7683, and RUB rose by 0.77% to AZN 0.0263.

Currency

Exchange rates

1 USD (US dollar)

1.7000

1 EUR (Euro)

1.7683

1 RUB (Russian ruble)

0.0263

1 AUD (Australian dollar)

1.1716

1 ARS (Argentinean peso)

0.0145

1 BYN (Belarusian ruble)

0.6186

1 BRL (Brazilian real)

0.3359

1 UAE dirham

0.4628

1 ZAR (South African rand)

0.1049

100 KRW (South Korean won)

0.1325

1 CZK (Czech koruna)

0.0715

100 CLP (Chilean peso)

0.1975

1 CNY (Chinese yuan)

0. 2504

1 DKK (Danish krone)

0.2376

1 GEL (Georgian lari)

0. 5674

1 HKD (Hong Kong dollar)

0.2166

1 INR (Indian rupee)

0.0219

1 GBP (British pound)

2.0816

100 IDR (Indonesian rupiah)

0. 0116

100 IRR (Iranian rial)

0.0040

1 SEK (Swedish krona)

0.1686

1 CHF (Swiss franc)

1.6952

1 ILS (Israeli shekel)

0. 4997

1 CAD (Canadian dollar)

1.3115

1 KWD (Kuwaiti dinar)

5.5366

1 KZT (Kazakhstani tenge)

0.0040

1 KGS (Kyrgyzstani som)

0.0204

100 LBP (Lebanese pound)

0.1125

1 MYR (Malaysian ringgit)

0.3865

1 MXN (Mexican peso)

0.0844

1 MDL (Moldovan leu)

0.0897

1 EGP (Egyptian pound)

0.0928

1 NOK (Norwegian krone)

0.1732

100 ‎UZS (Uzbekistani som)

0.0152

1 PLN (Polish złoty)

0.3777

1 SGD (Singapore dollar)

1.2181

1 SAR (Saudi Arabian riyal)

0.4532

1 SDR (IMF)

2.2623

1 TRY (Turkish lira)

0.1097

1 TWD (Taiwan dollar)

0.0570

1 TJS (Tajikistani somoni)

0.1362

1TMT (New Turkmenistan Manat)

0.4857

1 UAH (Ukrainian hryvnia)

0.0576

100 JPY (Japanese yen)

1.3179

1 ‎NZD (New Zealand dollar)

1.0616

Gold (1 ounce)

3,073,8975

Silver (1 ounce)

35.7221

Platinum (1 ounce)

1,609.1690

Palladium (1 ounce)

3,327.8265

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Sweden to send delegation to Turkiye for talks on NATO membership

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The government of Sweden will send representatives to Turkiye to resolve existing disagreements regarding its NATO bid, kingdom's Defense Minister Peter Hultqvist.

"We will send a group of officials to hold discussions and the dialogue with Turkiye, and we will see how the issue will be resolved and what it actually is. But the signals we got from NATO are that there is an agreement on that both Sweden and Finland must be admitted to the alliance," he said.

On Monday, the Swedish parliament will hold debates on NATO accession, and the government will meet to approve the membership bid.

"I cannot say when exactly the bid will be sent but the decision will be adopted today," the minister said.

Turkish President Recep Tayyip Erdogan said on Friday that Ankara is not supportive of Finland and Sweden's NATO bid since "the Scandinavian countries are a guest house for terrorist organizations" – members of Kurdistan Workers' Party outlawed in Turkiye. On Saturday, Foreign Minister Mevlut Cavusoglu also expressed outrage at this. He noted that the majority of Turkish residents opposed the accession of Finland and Sweden to NATO and asked Ankara to block the process, but it intends to discuss this with its allies in the alliance, as well as Helsinki and Stockholm.

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Baku-Nakhchivan plane returns due to storm

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The captain of the Azerbaijan Airlines (AZAL) Baku-Nakhchivan flight has decided to return to the Heydar Aliyev International Airport due to the storm at the Nakhchivan International Airport, Report informs, citing AZAL.

The plane landed at Baku airport at 08:37 (GMT+4)

The passengers will be able to fly to Nakhchivan after the weather improves.

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