The Social Media Monetization Release Extra offers several ways to monetize your music on YouTube:
YouTube Content ID: This feature alerts you and pays you when your music is used in other people's YouTube videos.
YouTube Creator Music: Your tracks are added to the Creator Music catalog, where creators can license your music and you get paid when they do.
YouTube Shorts: Your songs become available in the YouTube Shorts library so others can use them in their short videos—and you earn revenue when they do.