IBEF: August 06, 2021
Between February and May 2020, YouTube reported that creator revenue in India increased by over 100%, because to services like Super Chat, Super Stickers, Channel Memberships, and Merchandise. YouTube Shorts Fund, a US$ 100 million fund disbursed between 2021-2022, will enable creators with a new opportunity to earn money and create a business on YouTube, according to the firm.
Last year, YouTube debuted 'Shorts,' a short-form video experience, to compete with TikTok. In September of last year, it introduced an early beta of Shorts in India with a few authoring tools to test the feature.
YouTube claimed in a blog post on Wednesday that it had aided a growing community of Indian inventors and artists in turning their ideas into profitable companies.
"In addition to the YouTube Partner Program, which is a unique business model in which creators share the majority of revenue generated on the platform, YouTube has continued to invest in new monetisation options for creators outside of advertising, such as Merchandise, Channel Memberships, Super Chats, and Super Stickers," the company said.
Between February and May 2020, YouTube claimed that these revenue sources had a "demonstrable impact," with over 100% growth in creator revenue in India.
Over the previous three years, YouTube has paid more than US$ 30 billion to creators, artists, and media firms around the world, and it paid more to YouTube creators and partners in the second quarter of 2021 than in any other quarter in its history.
The company's most recent project, the YouTube Shorts Fund, will enable thousands of qualifying artists to claim a reward from the Fund each month.
"This is the first step in our effort to develop a monetization strategy for YouTube Shorts, and any creative who fits our eligibility requirements is welcome to apply. We're ecstatic about what this signifies for Indian creators. The Shorts Fund not only recognises the next generation of mobile producers for their unique contributions to Shorts, but it also provides them with a new opportunity to make money and grow their businesses on YouTube" It was stated.
Based on views and engagement on their 'Shorts,' creators can earn anywhere from US$ 100 to US$ 10,000.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.