YouTube has announced a $100 million creator fund that aims at paying the YouTube Shorts creators based on their viewership. The fund is expected to launch in the coming months will pay creators in the current and upcoming year of 2022, YouTube said.
Youtube added that the new fund will pay thousands of creators each month based on the engagement their videos receive from viewers. In addition, the fund is open to any video maker on the site who follows its guidelines and not just those eligible for the advertising program, the company said.
This initiative makes YouTube one of the many platforms that have used creator funds as a way to court more users. Bytedance Inc.'s TikTok launched a creator fund in July last year and promised to grow the funding to $1 billion in the United States over three years. Snapchat's Spotlight awards $1 million per day to users who post top content.
Furthermore, the video streaming site added that it will begin to test ads on Shorts. Amy Singer, a YouTube director, described the new fund as a “first step” in forming a business model for Shorts. “This is a top priority for us, and will take us some time to get it right,” she wrote in a blog post.