YouTube is trying to bolster its TikTok rival ‘Shorts’ with a 100 million funding. This amount from the world’s biggest video sharing platform, however, is way less than $200 Million from TikTok.
Content Creators who focus on YouTube Shorts could gain some financial backing. The Google-owned social media platform for videos has announced a $100 Million fund to back Shorts creators. Strangely, there are no clear criteria for qualification.
How to secure funding for YouTube Shorts?
Shorts is, of course, YouTube’s answer to TikTok. YouTube has been testing the platform and recently transitioned the same from beta to general public availability.
Now, YouTube wants to attract content creators and ensure talented artists receive financial support. Hence, the Google-owned company has announced a $100 Million fund to reward content creators who develop content for the Shorts platform.
YouTube announced a $100 Million fund to reward Shorts creators who produce viral content over the period of 2021 and 2022. While the platform has indicated the time period, it hasn’t offered specific details about how to avail funding.
YouTube said it’s starting a $100 million fund for creators of video Shorts, the company’s feature that rivals TikTok https://t.co/qa2w98yx8m
— Bloomberg (@business) May 11, 2021
The ‘$100 Million’ fund is open to every member of the YouTube Shorts platform. Moreover, Content Creators need not be members of the YouTube Partner Program to qualify.
Strangely, YouTube Shorts video creators cannot approach YouTube to seek funding. Instead, the crowd-sourced, video-based social media claimed it will reach out to thousands of creators every month if their videos surpass certain engagement milestones.
YouTube has indicated that it will offer more information when the fund’s actual release is closer. But for now, content creators for Short need to focus on creating content that goes “viral”.
Will YouTube Shorts survive against TikTok?
YouTube’s ‘$100 Million’ fund for Content Creators who work for Shorts might sound big. However, TikTok is already a global sensation.
To ensure Content Creators stick to TikTok, the platform promised to offer $200 million to creators. Moreover, unlike YouTube, TikTok clearly mentioned creators who managed to amass at least 100,000 authentic views in the last 30 days, qualify for receiving funding.
We're *thrilled* to announce the @YouTube Shorts Fund 🤩
This $100M fund is designed to reward creators for their unique, engaging short-form content. You don’t even need to be in YPP.
Learn more → https://t.co/zbJIzHyd0m
— YouTube Creators (@YouTubeCreators) May 11, 2021
There’s an official confirmation from TikTok that it will boost the fund to $1 Billion in the U.S. over the next three years. Needless to mention, YouTube’s announcement about a $100 Million fund seems paltry in comparison.
Still, YouTube is the biggest crowd-sourced video sharing platform. Monetary benefits aside, YouTube has Google’s backing.
The platform recently added the option to automatically add captions to Shorts, record up to 60 seconds with the Shorts camera, correct the color of videos, and insert clips from your phone’s gallery to your videos.
YouTube: Yeah we are going to pushing shorts hard: https://t.co/kuBAYcSTnO
— Nice Stories (@stories_nice) May 11, 2021
YouTube is gradually monetizing the Shorts platform. Ads could start appearing in the short videos soon. Moreover, the platform should roll out the new “remix audio” feature to creators.
Google-backed YouTube has the technology and manpower. It remains to be seen if the platform matches or exceeds TikTok in terms of monetary rewards.