- YouTube said the new fund will pay thousands of creators each month whose videos on Shorts receive the most engagement from viewers;
- Shorts is the platform’s new short-form video feature to tackle TikTok and other rivals;
- Shorts is expected to launch in Latin America soon, as it is still in beta phase in India and the US.
Alphabet’s YouTube on Tuesday announced a $100 million fund to pay content creators who make hit videos on its new short-form video feature Shorts, as YouTube aims to court more influencers.
The fund will launch in the coming months and pay creators this year and 2022, YouTube said.
The investment comes as platforms are racing to attract young creators who are building huge fan followings — and big earning potential — by filming short comedy skits and dance routines. Viral app TikTok jump-started the trend of short-form video clips and was quickly copied by other apps such as Facebook-owned Instagram’s Reels, Snapchat Spotlight and YouTube Shorts.
YouTube said the new fund will pay thousands of creators each month whose videos on Shorts receive the most engagement from viewers.
The streaming video site added it will begin to test ads on Shorts.
As the market for short video features becomes more crowded, platforms have used creator funds as a way to court more users. TikTok launched a creator fund in July and later increased its funding to $1 billion in the United States over three years. Snap awards $1 million per day to users who post top content on Spotlight.
In Brazil, a market that accounted for eight out of the top ten musical most-watched live events on YouTube in 2020, and other Latin American countries, Shorts is expected to launch soon, as it is still in beta phase in India and the US.
According to YouTube’s director of musical partnerships for Latin America, Sandra Jimenez, in an interview with LABS, live paid events, new online shopping modalities, as well as its new short-form video feature are some of the platform’s bets for 2021 in the region.