YouTube announced on Tuesday a $100 million (about Rs 7.35 billion) fund to pay content creators who make popular videos in its new short video feature “shorts” because YouTube aims to attract more influence By.
YouTube said the fund will be launched in the next few months and will pay creators this year and 2022.
This investment is made while the platform is competing to attract young creators, who have attracted a huge fan base by shooting short comedies and dance routines, and have huge potential for profit. The viral application TikTok triggered the development of the short video editing trend, and was quickly copied by other applications, such as Facebook-owned Instagram Reels, Snapchat Spotlight and YouTube Shorts.
YouTube said the new fund will pay thousands of creators every month, and these creators’ videos on “shorts” have received the most audience participation.
The streaming video site added that it will start testing ads on shorts.
As the short video feature market has become more crowded, the platform has used creator funds to attract more users.
TikTok launched the Creators Fund in July and later increased its funding to US$1 billion (approximately Rs 73.5 billion) within three years.
Snap rewards users who publish popular content on Spotlight with a daily reward of US$1 million (approximately Rs 7 crore).
Earlier this month, a report recommended that YouTube automatically translate video titles, descriptions, and subtitles in its native language so that users can quickly browse videos easily. According to reports, some users have discovered the feature, which appears to be enabled through server-side changes. It can be expected that it will be used by more users soon. However, so far, only Portuguese and Turkish translations have been found.