YouTube has created a $ 100 million fund to pay content creators who use YouTube Shorts, the short video format the company launched in March to compete with TikTok. These payments will only take place at the moment in the United States and India, where the Shorts are already activated, but YouTube plans to implement them in other regions until the funds are exhausted by 2022.
The Shorts are videos in vertical format, lasting a few seconds, accompanied by music, and to which different filters can be added. The format and style are practically identical to that of TikTok, the Chinese social network that was the most downloaded in 2020 and follows the same path in 2021. To stand up to TikTok. YouTube started testing its Shorts in India, where the Chinese short video network has been banned since January.
YouTube anticipates that it will pay users based on their monthly activity, taking into account their activity and the audience they reach. “Hundreds of creators,” according to the company, could benefit, and anyone who wears Shorts could aspire to do so. The only requirements are to post original content and that it does not violate YouTube regulations.
With this millionaire fund, YouTube aims to encourage influential creators to use its service and thus unseat TikTok. Anyway, the idea is not YouTube original nor it is new. TikTok itself launched a fund of 200 million dollars in July 2020, double that of YouTube, also to help its users to monetize their activity on the social network. Snapchat did the same in November when it launched the Spotlight app to compete with TikTok and spent up to $ 30 million to incentivize its use.