YouTube Update: YouTube Launches $100M Creator Fund to Support Growth of YouTube Shorts
In March of 2021, the latest YouTube update was the launch of its TikTok competitor, YouTube Shorts. YouTube has always been a leading platform for video content; however, today the popularity of short-form content has exploded. YouTube Shorts resemble the short form, full screen, endlessly swipeable content one can find on TikTok, Snapchat, or Instagram reels. Shorts are available exclusively on Youtube’s mobile app.
Many of the most popular social media platforms have been investing large sums of money to entice creators to use their platforms and YouTube is following suit. In order to compete with the other short-form video platforms, YouTube has launched a $100 million creator fund that will run through 2022.
YouTube Shorts will open a new door for a mutually beneficial avenue of influencer marketing. With YouTube’s $100 million fund, creators will have the opportunity to make up to $10,000 a month, depending on the location of their audience and the number of people creating and engaging with shorts per month. According to YouTube, anyone posting shorts is eligible for a payment. However, YouTube makes it very clear that content needs to be original and free of watermarks from TikTok, Snapchat, or Instagram in order to qualify. For now, payments will be available in 10 regions including the US, India, UK, Brazil, Indonesia, Japan, Mexico, Nigeria, Russia, and South Africa. YouTube says it eventually plans to expand to more countries.
Previously, YouTube would pay creators based on how much traction they brought to ads that were placed throughout their videos. However, YouTube understands that it isn’t feasible to run an ad during every YouTube Short; therefore, they have created an alternative form of payment to reward creators for their short-form content.
Tiktok and Snapchat have put a substantial amount of money into rewarding creators for their short-form content. In July of 2020, TikTok launched a $200 million creator fund. Secondly, Snapchat paid $1 million per day for a long duration to drive creators to its TikTok competitor, Spotlight, after its launch in November 2020. Facebook is also taking big strides to reward creators and recently launched a $1 Billion dollar program to incentivize creators to prioritize Instagram and Facebook for all forms of their creative content.
In conclusion, the latest YouTube Update has been the creation of a $100M creator fund. The platform launched this program as an incentive to bring users to their platform. If you’re interested in learning more about the YouTube update, influencer marketing strategy, and more from industry experts? Reach out to us today!