YouTube has unveiled a $10,000 reward for the finest short videos on its platform.
YouTube rewards up to $10,000 per month to YouTube influencers who create unique short videos. It is expected that YouTube's incentive will encourage the growth of YouTube shorts, give tough competition to the rival short video services such as TikTok, Mauj, Mx Takatak, and others.
By next year, the company plans to spend up to $100 million on content creators. The money will be distributed through the app starting in August. The payment will be determined by the number of views a short video receives as well as the region of the audience.
By doing so, YouTube may simply decide how monetization must function for such videos, as a revenue generation model for short videos must be different than for regular YouTube videos, according to YouTube.
Moreover, the shorts must be original, as videos that are copyrighted will not be eligible for the reward. The feature is only available to residents of the United States, the United Kingdom, India, Brazil, and six other countries.
YouTube hopes that by offering this incentive, content creators will be encouraged to create original and innovative videos rather than relying on the platform to increase their engagement. In a recent interview with Decoder, a YouTube representative stated, "We aim to assist creators to raise their voices by giving this reward."
Short Video creators will not be compelled to broadcast advertisements in order to earn money; instead, money will be distributed to each short content creator based on the performance of their video.
This payment system was influenced by TikTok and Snapchat, as both of these platforms have benefited greatly from using it.
Hope this new reward system would help YouTube to join the race of other short video sharing platforms and assist more short content creators to come forward and showcase their talent. For more such informative content keep tuned with our site.