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YouTube Promises $100 Million for New Creators on Shorts

YouTube Attracts a New Wave of Creators with Fund for its new TikTok Competitor Shorts

Ever since the rise of TikTok, people have been going crazy over short videos. Why wouldn’t they, see as they’re quick, precise, and easy to watch? Now that TikTok’s worth is out in the open, many other apps are attempting to cash in on their idea. Instagram made their reels and Snapchat created Spotlight. They all replicate the idea of short videos for users to watch.

Now, the king of video platforming YouTube has decided to take a step into the arena with their version. A beta version of their experimental addition was released at the beginning of this year so that people and creators alike could try out what YouTube has in store.  

The feature they released is called Shorts and it essentially works the same way as TikTok does. YouTube invited users to create shorts on the beta version promising they wouldn’t be shared as of yet, to make ‘unique’ shorts that would ‘delight the YouTube community. A spokesperson for YouTube described further how Shorts is intended to work.

We’re testing a new way for creators to easily record multiple clips directly in the YouTube mobile app and upload them as one video.

The operation is quite similar to TikTok’s interface. You can make multi-segment videos with a collective run-time of 15 seconds. Shorter videos are initially created and coupled together to make one longer one that’s edited, posted, and viewed. It’s part of the mobile YouTube application, not the PC version coupled with the google browser.

YouTube is not the first platform to attract creators with funds, however. Snapchat’s TikTok replica Spotlight has created millionaires who were quick enough to collect the bounties of participating in Snapchat’s newest feature.

YouTube has announced alongside a fund for the creators who join Shorts and receive positive engagement from their viewers. Earlier this month they also released Shorts completely for U.S. users. The funds will be launched later this month and will be the first step YouTube takes to establishing a long-term monetization plan for Shorts. The funding will also help promote Shorts and make it a desirable platform for creators new and old to join and enjoy.

Creators who receive ample positive engagement and viewers will be approached and encouraged by YouTube to continue in their endeavor of Shorts to help it grow. They will also be inquired on how to better the platform and provide feedback on their experience with it.

Alphabet CEO Sundar Pichai has stated that ‘Short is getting 6.5 billion daily views globally.’ The first-quarter earnings report of YouTube through ad revenue has shown that they brought in $6.01 billion, which is 50% on a year-to-year basis from $4 billion.

YouTube has declared that they will begin to distribute the $100 million creator fund in the coming months and throughout 2022. They refused to make further comments on recent revenue rates, how they will determine how creators are paid, and the potential each creator can earn. The social media world is evolving into more convenient methods of entertainment as introduced by TikTok. Platforms are scrambling to keep up with one another, and it’s only a matter of time before someone else comes along with a new idea that’ll ripple throughout the industry.

Reported By: Zarrish 

Written By: Leah Latif

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