New Delhi (Anish Yande): YouTube has recently stated that it would be starting a $100 million fund for creators on its platform that produce shorts. The video streaming service aims to rival TikTok and other short video platforms by drawing more creators to its platform.
YouTube to pay creators through $100 million fund:
Apart from the advertising revenue, now creators that produce YouTube Shorts would be paid on the basis of viewership and engagement. YouTube would be opening the program for any content creators provided they follow the guidelines set by the company.
Creators whose YouTube Shorts receive the most engagement from viewers would be paid accordingly from the creator fund, according to YouTube. The company said that it would disburse the $100 million creator fund to creators in the upcoming months up to 2022.
YouTube would be reaching out to thousands of creators every month who are producing the top short-form content on the platform with the most engagement and views. The creators would also be asked to share feedback to improve the platform.
However, currently, the video streaming platform has not clarified the details of how much creators can earn or the parameters and metrics that determine how creators would be paid. The company would be releasing more details about the creator fund in the upcoming months.
YouTube Shorts to compete against Facebook and Spotlight:
The video streaming service stated that it would start testing ads on Shorts. YouTube Shorts was launched in India in September 2020. According to Alphabet CEO Sundar Pichai, the short video service is registering 6.5 billion daily views globally.
Google's recent quarterly earnings report stated that the company garnered $6.01 billion in advertising revenue through YouTube.
The creator fund has been established in face of rising competition from apps such as TikTok and others like it. Other tech firms such as Facebook and Spotlight have also launched their short-video platforms such as Instagram's Reels and Snapchat Spotlight.
Snapchat's Spotlight provides users with up to $1 million per day who post trending top content on the platform. TikTok raised its creator fund to $1 billion in the United States over the past few years.
Image Credit: Google