In the previous three years, YouTube has paid more than $30 billion to creators, artists, and media organizations, according to Robert Kyncl, YouTube’s Chief Business Officer, who announced the $100 million Shorts Fund and additional monetization routes for producers.
He also mentioned that YouTube, with the debut of the YouTube Partner Program over 14 years ago, lay the basis for today’s creative economy (YPP). “In just over the last three years, we’ve paid more than $30 billion to creators, artists, and media companies. And in Q2 2021, we paid more to YouTube creators and partners than in any quarter in our history.”
Beyond advertising, YouTube is investing in new monetization possibilities for artists, such as Paid Digital Goods, merchandising, sponsored content, and more. “Our common objective with creators is to assist them in developing solid and varied revenue models that work with both their unique content and fan base,” he added.
On August 3rd, the YouTube Shorts Fund, a $100 million fund that will be disbursed during the years 2021-2022, became live.
“Every month, we’ll reach out to thousands of qualified artists to invite them to claim a payout from the Fund – creators may earn anything from $100 to $10,000 depending on the number of people who watch and connect with their Shorts. “The Shorts Fund is the first step in our quest to establish a monetization strategy for Shorts on YouTube, and it is open to any artist who satisfies our qualifying criteria,” Kyncl added.
He also stated that YouTube Premium, Channel Memberships, Super Chat, Super Thanks, Super Stickers, Merchandise, Ticketing, and YouTube BrandConnect are all ways for artists to make money from outside advertisements.
Meanwhile, YouTube said today that years of efforts to crack down on bad actors with new regulations, resources, and features have resulted in a violative view rate of 0.16-0.18 percent in Q4 2020, with “only 16-18 out of every 10,000 views on YouTube coming from violative content.”
Ads, Premium, Super Chat, Super Stickers, Super Thanks, Memberships, Merch, Ticketing, BrandConnect, and Funds are among the ten monetization options available on YouTube. The company’s second major continuing initiative is a $100 million fund for YouTube Shorts programming in 2021-22.
In recent years, social media firms have poured significant resources and money into online producers. YouTube wants everyone to know that it throws the most.
It also stated that the YouTube creator economy has aided in the creation of jobs. It stated that “just in the United States, YouTube’s creative ecosystem supplied the equivalent of 345,000 full-time employment in 2019.”