YouTube said it will launch a $ 100 million fund for short video creators, and the company’s features are comparable to TikTok. Unlike online video giants, creators will be paid based on ratings and engagement rather than advertising revenue.
Additionally, YouTube said in a blog Tuesday that YouTube will open the fund to any video creators on its website who follow the guidelines, not just those who qualify for the ad program.
Spurred on by the success of ByteDance Ltd.’s TikTok, the shorts maker fund is the latest step in social media’s bidding war against online celebrities. Snap established a new fund for the best in its video products last fall. Facebook Inc. tried to attract celebrities and copy TikTok features and introduced more ads in its shorter videos.
YouTube, which is also part of Alphabet Inc.’s Google, also recruited TikTok stars. With the announcement of the fund, YouTube is expanding its functions to facilitate the taking of photos of shorts. Part of the reason for TikTok’s success is its ease of making videos on smartphones.
YouTube has funded creators long before its competitors on social media. For more than a decade, the company has split ad sales with video makers, spurring the business to generate $ 19 billion in ad sales last year and many moderate problems. After a series of brand safety incidents, YouTube capped the number of creators in 2018. It has yet to appear in the short income model.
Despite this, many YouTube employees still failed to gain a consistent audience, so they either left the site or turned to TikTok and Facebook’s Instagram for more production. YouTube featured short films to celebrity creators in 2020 and provided video creators with a variety of tools so they can also make money. Google told investors that in March, the “shorts” feature had more than 6.5 billion visits a day, almost double the number in December. Last week, YouTube allowed everyone on its website to upload shorts.
Since 2012, YouTube’s video promotion algorithm has prioritized watch time. YouTube Director Amy Singer described the new fund as the “first step” in building a short film business model on her blog. She wrote: “This is our top priority and it will take us some time to resolve the issue.”