On Tuesday, Google-owned streaming platform YouTube announced its plans to reward creators on its platform. Starting in early 2023, YouTube Shorts-focused creators can apply to YouTube Partner Program (YPP) by meeting a threshold of 1,000 subscribers and 10 million Shorts views over 90 days, the company announced through a blog. “The popularity of short-form video has exploded on YouTube, with over 30 billion daily views and 1.5 billion monthly logged-in users, bringing an ascendant creativity across every topic, vertical, and region of the world,” Amjad Hanif, vice president of creator products, YouTube, said.
YPP allows YouTube to stand unique among all its competitors, Abdul Saud Siddiqui, alliance and partnership manager, Optiminastic Media, said. “YPP will allow creators to earn through branded ads which will be integrated into the Shorts feed itself; this will definitely push creators to produce quality content in larger quantity,” he added.
The short-form video market in India saw a lot many players making scramble for it, post the ban of TikTok. Today, the market in India boasts many players including Meta-owned Instagram, Chingari, among others. However, as of April 2022, the US accounts for the country with the largest TikTok audience by far, with approximately 136.5 million users, as per the latest data by market research firm Statista. Next in line is Indonesia with around 99 million TikTok users, Brazil is third in with 74 million users.
As per YouTube, these new partners will enjoy all the benefits the program offers, including various ways to make money such as ads besides fan funding. It further stated that it will introduce advertising on its video feature Shorts and give creators 45% of the revenue generated from ads distributed based on their share of total Shorts views. According to Viraj Sheth, CEO and co-founder, Monk Entertainment, the move will have a net positive impact on the ecosystem from a monetary standpoint. “A major chunk of the creators still don’t make their regular income through brand deals. It is the top 10% of the creators who make most of the brand deal money flowing into the ecosystem, hence it is beneficial for the rest of the creators who will also be making good money through this program,” he added.
Experts believe that the creator ecosystem will experience a positive shift with the move. “Not only will it prove to be a new opportunity for creators, but it will also motivate them to take efforts in the content they create. Giving them an opportunity to earn through their content, not just through brand deals, will help push genuine creators and good content ahead, providing them with gratification for their efforts,” Vaibhav Pathak, co-founder, The Girlfriend Box, stated.
Perhaps, the chance to earn more is looked up as the most effective move by YouTube. According to industry analysts, with this most of the Youtube Shorts video creators will see an increase in income. “Since the revenue sharing approach has been doubled, it will boost the creator economy and enable creators to profit from the platform’s success instead of a fixed fund. It is the largest expansion that YouTube has done so far,” Neha Puri, founder and CEO, Vavo Digital, said.
Furthermore, YouTube also announced its plans to introduce Creator Music, a new destination in YouTube Studio that gives creators access to a catalog of music for use in their long-form videos. It said that creators can now buy affordable, high-quality music licenses which offer them full monetising potential—they will keep the same revenue share they’d usually make on videos without any music. “And for creators who don’t want to buy a license up front, they’ll be able to use songs and share revenue with the track’s artist and associated rights holders,” the blog highlighted.
For creators such as Madan Gowri, the announcement will affect the existing creators like the mainstream and long-format creators. “A lot of creators did not take the short video path earlier because of the lack of surety about the revenue part of it. Now, I think it will make a lot of us create more Shorts or short format videos,” he said.