According to multiple online reports, YouTube has established a $100 million YouTube shorts fund to compensate or pay creators for creating engaging content. The fact that TikTok has been a worldwide icon has never been in doubt. Every major tech company, such as Snapchat, Facebook, and Google, has attempted, but with limited success, to create a TikTok rival. Now, Google is taking another page from TikTok's playbook in order to boost YouTube shorts—its answer to TikTok—and attract more creators.
YouTube will contact creators whose videos have reached certain milestones each month, according to the report by The Verge. Instead of advertising revenue, creators will be paid based on viewership and engagement. Anyone who posts to shorts is still eligible, but the content must be unique and original.
YouTube shorts users in India and the United States will be able to make money from the fund. It is unclear when the payments will begin, but they will begin this year and continue until sometime in 2022.
This isn't exactly a new concept from Google, as TikTok has been doing it for a while. Korma TikTok launched a $200 million fund in July 2020 to pay creators for engaging content.
Snapchat, which has a TikTok competitor called Spotlight, also revealed that it was paying creators up to $1 million per day.
Despite being banned in India TikTok remains widely popular across the country. TikTok's ban resulted in the rise of homegrown apps, as well as the likes of Instagram and Google attempting to capitalize on the 'void' left by TikTok in India. The $100 million fund is another attempt by YouTube and Google to provide users with an alternative to TikTok and increase their presence in the short video space.