Video sharing giant YouTube has introduced the next chapter in rewarding creativity on the platform.
At its inaugural Made on YouTube event, the company shared that it’s expanding the platform’s monetisation system, the YouTube Partner Program (YPP), to allow more creators to join the program.
This, it said, will introduce new ways for creators to earn revenue through Shorts, and re-imagining the music industry and creator dynamic by opening up ads monetisation for those who feature music in their videos.
The announcement reflects the diversity of the platform’s growing creator community, and allows its over two million monetising creators to make money on YouTube across any creative format.
Some of the key announcements include expanding access to YPP, introducing a first-of-its-kind revenue sharing model for Shorts, and launching Creator Music.
With more then 30 billion daily views and 1.5 billion monthly logged-in users, You Tube said Shorts are exploding around the world.
“To reward this new creative class, beginning in early 2023, we’ll be moving away from a fixed fund and doubling down on a unique revenue sharing model for Shorts for both current and future YPP creators.
“Because ads run between videos in the Shorts Feed, every month, revenue from these ads will be added together and used to reward Shorts creators and help cover costs of music licensing.
“From the overall amount allocated to creators, they will keep 45% of the revenue, distributed based on their share of total Shorts views. The revenue share remains the same, no matter if they use music or not,” You Tube said.
Susan Wojcicki, CEO of YouTube, said the YouTube Partner Program was revolutionary when it first launched back in 2007, and it’s still revolutionary today.
“Over the last three years, YouTube has paid creators, artists, and media companies more than $50 billion dollars. That $50 billion dollars has changed the lives of creators around the world and enabled new voices and stories to be told. But we’re not done yet.
“When we introduced the YouTube Partner Program, we made a big bet: we succeed only when our creators succeed. And today, we’re doubling down.
“We’re introducing the next chapter in how we reward creativity on our platform by expanding access to our YouTube Partner program,” Wojcicki said.
Neal Mohan, YouTube’s chief product officer, said YouTube’s industry-leading Partner Program changed the game for long-form video.
“And now we’re changing the game again, this time by opening it up to Short-form creators and introducing revenue sharing to Shorts.
“This is the first time revenue sharing is being offered for short-form video on any platform at scale, adding to the 10 ways creators can already earn revenue on YouTube,” Mohan added.