Image Source: Mashable
To create a product similar to TikTok for short-form video clips, YouTube spent two years developing YouTube Shorts. The switch will be flipped to monetize that content and give producers a cut of the profits.
Beginning in early 2023, creators who are primarily focused on YouTube Shorts will be eligible to apply to join the platform’s revenue-sharing program, provided they have a minimum of 1,000 subscribers and 10 million Shorts views in the previous 90 days. Amjad Hanif, vice president of creative products at YouTube, claims that the new partners will benefit from every feature our program has to offer, including the numerous revenue streams like long-form commercials and Fan Funding.
Additionally, YouTube unveiled a new method by which creators can still be compensated for video views through the ad-revenue sharing scheme while obtaining music licensing for their videos.
Here is the procedure for the Shorts ad-revenue sharing: Ads are interspersed between the videos in the stream of YouTube Shorts. The authors of the short films will receive a monthly payment from the combined earnings from these advertising, which will also go toward the cost of music licensing for the clips’ featured songs. In comparison to the 55% for long-form videos under the core YouTube Partner Program, producers will retain 45% of the money from the entire sum allotted to them, distributed depending on their proportion of total Shorts views (YPP). Hanif stated in a blog post on Tuesday that the income portion does not change whether or not music is used.
With this innovative strategy, YouTube is able to compensate all YPP producers who contribute to the Shorts experience, not only those whose videos appear adjacent to advertisements. It also streamlines the complications of music licensing so that creators don’t have to worry about whether or not they utilize music in their Shorts because music is the inspiration for some of our most bright and memorable Shorts.
As it competed for market share against TikTok, the ByteDance-owned app that has surged in popularity quickly, Google announced that YouTube Shorts had more than 1.5 billion monthly logged-in users in June. As part of a $100 million fund for YouTube Shorts that was established a year ago to encourage the production of short films, top-performing video producers were eligible to receive up to $10,000 per month.
While this is happening, YouTube is launching Creator Music, a brand-new location in YouTube Studio that provides YouTube producers access to a library of music for their long-form films. With it, creators can now purchase high-quality, reasonably priced music licenses that allow them to monetize their work fully; they will continue to receive the same income share as they would on music-free videos. In addition, Hanif claims that those who don’t want to pay a license fee in advance will still be able to use songs and split profits with the rights owner of the song in question.
The majority of lengthy videos that use third-party music have, up until now, not been monetizable due to the difficulties in music licensing, according to Hanif.
New YouTube Shorts initiative will launch next year
Currently, in beta in the US, Creator Music will roll out internationally in 2023.
Millions of producers who make money from their videos through advertising are now part of YouTube’s ad-revenue sharing YouTube Partner Program, which was first introduced in 2007. As a result, YouTube claims to have paid media firms, artists, and creators more than $50 billion over the last three years.
With a full deployment anticipated for next year, YouTube is also making the Super Thanks “tip-jar” tool for Shorts available in beta to “thousands of creators.” By purchasing highlighted Super Thanks remarks, fans may communicate with their favorite creators and viewers can express their appreciation for their favorite Shorts. Furthermore, the platform intends to connect businesses and Shorts producers together as part of its yearly YouTube BrandConnect event for advertising.
A “new level” of the YouTube Partner Program with less qualifications will be introduced, according to YouTube. It will grant earlier access to fan-funding features like Super Thanks, Super Chat, Super Stickers, and Channel Memberships. In addition, we will offer pathways for long-form, Shorts, and Live creators to join this new tier in 2023 to reward creators across various genres. More information would be provided soon, Hanif warned.
Currently, creators need to have at least 1,000 subscribers and 4,000 view hours to be eligible to join the YouTube Partner Program.