Alphabet Inc’s (GOOGL.O) YouTube on Tuesday introduced a $100 million fund to pay content material creators who make hit movies on its new short-form video function Shorts, as YouTube goals to court docket extra influencers.
The fund will launch within the coming months and pay creators this 12 months and 2022, YouTube mentioned.
The funding comes as platforms are racing to draw younger creators who’re constructing big fan followings — and large incomes potential — by filming brief comedy skits and dance routines. Viral app TikTok jump-started the development of short-form video clips and was rapidly copied by different apps resembling Fb-owned (FB.O) Instagram’s Reels, Snapchat (SNAP.N) Highlight and YouTube Shorts. learn extra
YouTube mentioned the brand new fund pays hundreds of creators every month whose movies on Shorts obtain essentially the most engagement from viewers.
The streaming video website added it’s going to start to check adverts on Shorts.
As the marketplace for brief video options turns into extra crowded, platforms have used creator funds as a solution to court docket extra customers.
TikTok launched a creator fund in July and later elevated its funding to $1 billion in the US over three years.
Snap awards $1 million per day to customers who put up high content material on Highlight.
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