YouTube has come up with a new creative way to compete against the original content creator platform Tiktok and is ready to invest heavily in the YouTube Shorts project.
The company announced earlier this year that they would be making a huge investment sum of up to $100 Million to this platform, aiming to reward creators for their most-viewed short videos from 2021 to 2022.
With the funds in place, YouTube hopes to boost creators and users of YouTbe Short by rewarding creativity. On August 3, 2021, the company announced that they would be rolling out these funds to pay creators of short videos on the platform.
With the massive success of Tiktok in the tech space in the world today, big tech companies have always wanted to key into this creative part to bolster their gains and profits in the tech world, citing the ease with which Tiktok developed and became successful in developing countries.
YouTube did get this break when there was a ban imposed on Tiktok from different countries because of some issues, and this opened up the way for many platforms to create something similar to Tiktok and become dominant by gathering creative and users together in the same space just as Tiktok has been doing.
The plan YouTube has outlined has clearly stated that creative will call on thousands of creators to claim payment from the fund for their services on the platform every month. Payments can range from $100 to %10000, depending on the engagement and time spent on their video and creative content. It is also important to note that the company has said these payouts for services will depend on few things, including the audience's location, number of views, and other things.
To qualify, creators must produce original content and not repost already trending videos on other platforms with a watermark on their YouTube Shorts, which will affect their eligibility for the funds.
Creators of these original contents will also need to be 13 or older to post content on their YouTube Short. Their Adsense account must be set up with their parents or guardian as this is where they will receive their payouts from the allocated funds.
It is important for creators to have also posted at least one Short in the last 180 days and must be willing to follow YouTube Community guidelines and monetization policies and these creators don’t have to be making money on YouTube other avenues of making money on the platform to be able to key into the YouTube Short opportunity.
Upon its launch, YouTube Shorts and its funds will support countries including the United States, United Kingdom, Russia, Japan, Indonesia, Nigeria, and South Africa. They believe that over time they will expand to include more countries worldwide and make the opportunity available to all creators from every location.
YouTube said it would be reaching out to its participants and creators from next week to let them know if they have qualified for the bonuses and will have until 25th of the month to claim their bonuses before it expires.