YouTube just unveiled a new way for users who create content through its shorts video platform to earn money.
Starting in early 2023, YouTube Shorts-focused creators can apply to be part of the platform’s revenue-sharing program if they have at least 1,000 subscribers and 10 million Shorts views over 90 days. The new partners “will enjoy all the benefits our program offers, including the various ways to make money like ads on long-form and Fan Funding,” according to Amjad Hanif, VP of creator products at YouTube.
“In Shorts, ads move between videos in the Shorts feed. Therefore, each month, the revenue from these ads will be added together to help reward the creators of the shorts and cover the cost of music licensing. Will be used,” Amjad Hanif, YouTube’s vice president of creator products, said in a blog post on Tuesday. “From the total amount allocated to the producers, they will keep 45% of the distributed revenue based on their share of the total short scenes. The revenue share remains the same, whether they use the music or not.”
Short-focused creators can apply to YPP by meeting a limit of 1,000 subscribers and 10 million short views in 90 days.
Since its launch in September 2020, YouTube Shorts has garnered over 30 billion daily views and 1.5 billion monthly logged-in users. Prior to Tuesday’s announcement, the creators of the shorts raised money through the $100 million YouTube Shorts Fund launched last year.
The move comes in an effort to compete with TikTok, which crossed 1 billion monthly active users globally last year. The Chinese-owned social video platform unveiled a $200 million creator fund in 2020, with plans to expand it to US$1 billion over three years.
The YouTube Partner Program, which began back in 2007, currently shares 55% of ad revenue with qualified creators who create longer videos. Over the past three years, YPP has paid more than $50 billion to creators, artists, and media companies.
In the second quarter of 2022, Alphabet reported that advertising on YouTube generated $7.34 billion in revenue.
In addition to expanding YPP to Shorts creators, YouTube has launched a “Super Thanks for Shorts” tipping feature. The feature is in beta for thousands of creators and is expected to have a full rollout next year.
Are you ready?