YouTube has announced a slew of features aimed at attracting the next generation of creators and eliminating friction when it comes to making money from the platform – specifically for those who post short videos. The announcement comes as YouTube faces increasing challenges from the growth and popularity of TikTok, especially in the US market. YouTube will bring revenue sharing into the shorts format by expanding the YouTube Partner Program (YPP) to include these creators as well. In addition, a new Creator Music feature is planned, which is designed to make it easier to navigate music licensing challenges for creators on the platform as a whole.
“We are introducing the next chapter on how creativity is rewarded on our platform through the YouTube Partner Program. Starting early next year, creators who have reached 10 million short film views over 90 days can apply to partner,” said Neil Mohan, chief product officer at YouTube. “They will get all the benefits of the YPP program, including revenue sharing, and the different ways creators can make money on our platform,” said at a special event hosted by the company’s Los Angeles office.
“This is the first time a real short video revenue share has been shown on any platform on a large scale. Shorts ads are different from long ones. They are not attached to specific videos, but run between videos in the shorts feed. So the revenue will be accrued The proceeds will go to the creators of the short films in addition to covering the costs of licensing the music.”
YouTube emphasized that ads on short films work differently than on traditional feature length videos – there is no dedicated ad before each short video. Instead, ads will appear in the feed. The combined revenue from these ads will be split among the creators who will retain 45 percent of the revenue. Earnings are still determined based on the number of views a video gets. And the revenue share remains the same, even if they use music, according to the company.
It also means that YouTube is putting an end to its Creator Fund, which has been helping monetize some short video creators. YouTube executives said the fund – which had a higher ceiling – couldn’t keep up with the growth of the short video. The company revealed that YouTube Shorts sees more than 30 billion views from 1.5 billion logged-in users per month.
The short film earnings-sharing program will go live in early 2023, though YouTube hasn’t specified which countries will get this first. It should be noted that YouTube Shorts was first launched in India in September 2020.
Regarding Creator Music, this will be a new destination for creators to find songs that they want to use in their videos. The feature is rolling out as a beta in the US this fall and will expand globally at a later time. YouTube has not identified the song catalog and is partnering with independent labels specific for this now.
Content creators will be able to browse through a growing catalog of songs and choose from several simple options. They will have the option to buy a music license or go with the revenue sharing option. Currently, using music from record companies comes with its own set of challenges and fear of copyright infringement for many creators. YouTube hopes that its solution will help solve some of these issues.
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“They can use these songs while still making money without worrying about making financial sacrifices. Creators will also be able to choose from a revenue sharing option that allows creators and music rights holders to earn money from their content. What this means is that creators will split a portion During the announcement, content creators can access a larger catalog of popular music and face no upfront costs, Amjad Hanif, Vice President of Product Management at YouTube Creator Products, explained during the announcement.
When asked if the ads meant YouTube would focus more on the shorts, Tara Walbert Levy, Vice President of the Americas, overseeing YouTube’s content partnerships, emphasized that nothing changes in terms of the importance of long-form content.
“We wanted to make sure that we could continue to be the one-stop center for content creators. We are equally committed to all formats that help creators express themselves. We believed it was very important to provide real revenue sharing in short films as they provide equal opportunities to access All creators. “Our belief is that you should be able to make a living in any form,” she stressed.
Disclaimer: The author is located in Los Angeles at the invitation of YouTube India