On Tuesday, YouTube announced a fund of $100 million to contributors who make short-form video content called Shorts. As per the sources, YouTube will pay the creator this year and the next year 2022.
Tiktok was the first company who started the trend of short-form video content. Over time, all the main social media giants have incorporated the same content format. Reels by Instagram, Spotlight by Snapchat, and YouTube Shorts by YouTube are a few of them to name.
The main idea behind paying the contributors is to woo more influencers. All the social media platforms are competing to attract young audience. This initiative will lure people to create engaging video content and mint loads of money. Some of the trending ideas for creating video content include dance routines, comedy, short skits, and inspirational tips.
How will YouTube decide to pay the creators?
YouTube has ruled out that it will pay the makers whose video content gets the maximum engagement from the audience. There is a huge target audience that consumes short-form video content. This gives the benefit to lure in more viewers. At the same time, YouTube will gather feedback from the creators so that it can work to enhance the user experience.
Tiktok started with a creator fund and later expanded the investment to $1 billion in the United States of America over a period of three years. Snapchat allotted a budget of $1 million which rounds off to 7 crores per day to the creators who created awesome content for Spotlight.
Very soon, the platform will start testing advertisements on Shorts. The users can browse through the video content by interpreting video captions, titles, and descriptions in the local language.
In the near past, a large number of YouTubers have left the platform and shifted to Instagram and TikTok. This compelled YouTube to launch Shorts with star influencers in 2020. Since then YouTube has rolled out several tools to make money far off from ads. This attempt boosted the visibility of Shorts to 6.5 billion on every day basis. In the first week of May, YouTube allowed all its users to upload Shorts on its site.
Amy Singer, YouTube Director recently revealed in a blog post that the funding initiative is a stepping stone to create a business model for YouTube shorts. She declared that this
strategy is the most pressing matter and it may take some time to hit the nail on the head.