Standard deduction and sole proprietors

I make $150k from my regular W2 job, and I’ve recently started making money from my YouTube channel, which was just monetized. I expect to make a couple thousand dollars from YouTube this year.

I always claim the standard deduction and plan to continue doing so. However, I have a lot of expenses related to my YouTube side hustle (editor, equipment, software, etc.). YouTube will provide me with a 1099-NEC for the income I earn.

From what I understand, my YouTube side hustle will be treated as a sole proprietorship. I’ve been told that I can still claim the standard deduction on my personal taxes, but also deduct the expenses related to my YouTube channel separately on Schedule C. Is this accurate? Can I benefit from the business loss to lower my overall taxable income, even while claiming the standard deduction?