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YouTube might be the place many go to for longer form videos. For shorter form videos, there are platforms like Snapchat and TikTok, but it seems that YouTube wants it all. The company launched its Shorts feature back in 2020 which is meant to challenge the likes of TikTok and Snapchat, and now the company is looking to throw more money at it.
The company has announced the YouTube Shorts Fund which is valued at $100 million that the company will then distribute to its creators over the course of 2021 to 2022. According to YouTube, “Each month, we’ll reach out to thousands of creators whose Shorts received the most engagement and views to reward them for their contributions. We’ll also ask these creators to share their feedback with us so we can continue to improve the product experience.”
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. Considering that it is still limited to a handful of regions, we imagine that those views will blow up once Shorts opens up to more countries and regions.
YouTube also mentions their plan to build a monetization model for it, saying, “We’re excited to start rewarding creators for their contributions through the Shorts Fund. At the same time, we’ll expand our Shorts player across more surfaces on YouTube to help people find new creators, artists and Shorts to enjoy. We will also begin to test and iterate on ads to better understand their performance.”
Filed in . Read more about Snapchat, Tiktok and YouTube. Source: blog.youtube
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