YouTube is all set to seek TikTok’s consumer market. Tiktok has a huge following because of its short-length videos and now, the biggest online video platform owned by Google just announced a $100 million fund to pay people who post videos on TikTok’s competitor “Shorts”.
Shorts have only been enabled in the US since March (and before that in India) but now it’s been available in almost every region.
Shorts look short in length but they are pretty huge in terms of revenue. They are already gaining views in Billions daily. To be exact, 6.5 billion views per day. That’s a huge content consumer market for YouTube. Now just imagine the amount of revenue they’ll generate.
Anyone on YouTube with monetization can participate in this fund, not only those who are already enrolled in YouTube Partner Program. All you have to do is stick to the YouTube Community Guidelines and create original content that spreads on YouTube like Covid-19. That’s how you’ll make views and yeah, of course, dollars.
YouTube will “reach out to thousands of creators whose Shorts received the most engagement and views to reward them for their contributions.”
“This is a top priority for us and will take us some time to get it right. We are actively working on this, and will take the feedback gathered from our community to help develop a long-term program specifically designed for YouTube Shorts.”Amy Singer – Director of Global Partnership Enablement for YouTube Shorts,
Currently, the Shorts team is already working on some improvements i.e. automatically generated captions, record videos via your smartphone camera, attach/upload files and short clips from your gallery, and some color correction filters.
The service will soon add an option that allows creators to pull audio from other YouTube videos into their Shorts. This feature is similar to TikTok Duet but it will allow access to a massive number of videos from across YouTube.
This $100 million fund is nothing compared to the amount of revenue YouTube generates annually i.e. $20 Billion whereas TikTok plans to invest more than $2 Billion in the upcoming three years. Anyhow, Snapchat, TikTok, Cubhouse, Facebook, and Substack have some other plans as well.
If Shorts provide original and authentic content. They are likely to beat YouTube in terms of views. If we look at TikTok’s history, it has been banned and hated in some countries due to its cringe content. Now we all know there is a diversity in content creators but banning culture exists and we have seen TikTok banned multiple times in several countries.
This initial $100 million fund will surely attract a lot of content creators worldwide and we hope the content creators on YouTube will provide quality content to its consumers rather than just cringe slow-motion videos.
What do you think about YouTube Shorts? Share your thoughts and views with us!
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