YouTube announces $100 million fund to pay content creators who make hit videos on its short-form video feature Shorts. The fund will launch in the coming months and pay creators this year and 2022, YouTube said. YouTube said the new fund will pay thousands of creators each month whose videos on Shorts receive the most engagement from viewers.
The investment comes as platforms are racing to attract young creators who are building huge fan followings – and big earning potential by filming short comedy skits and dance routines. The company launched its Shorts feature back in 2020 which is meant to challenge the likes of TikTok , Reels by instagram and Snapchat, and now the company is looking to throw more money at it.
To date, according to Google’s CEO Sundar Pichai, the feature is proving to be successful as it is generating about 6.5 billion daily views. The YouTube Shorts Fund will be paid to creators over the course of 2021 to 2022, the company said. It will also begin to test and iterate on ads to better understand their performance.
TikTok launched a creator fund in July and later increased its funding to $1 billion (roughly Rs. 7,350 crores) The fund will launch in the coming months and pay creators this year and 2022. Platforms are racing to attract young creators who are building huge fan followings by filming short comedy skits and dance routines. TikTok jump-started the trend of short-form video clips and was quickly copied by other apps.
SnapChat is rewarding its top content creators with $1 million per day for content that is viewed by a lot of people