YouTube on Tuesday announced a $ 100 million (approximately Rs. 735 crores) fund to pay content creators who make videos based on short form videos, as YouTube aims to add more prosecutors.
The fund will launch in the coming months to pay creators this year and 2022, YouTube said.
The investment comes as the venues rush to attract new founders who build more fans – and more profit – by recording short sketches and jokes. The Viral TikTok app also introduced the practice of video clip formats and has been quickly downloaded to other apps such as Facebook’s Reels, Snapchat Spotlight and YouTube Shorts.
YouTube said the new fund would pay thousands of creators each month for their Shorts videos to get more engagement from viewers.
The video streaming site has added that it will begin testing ads in Shorts.
As the market for short video features becomes more and more crowded, the platforms have used creator funds as a way to introduce more users.
TikTok unveiled the creators’ fund in July and later raised revenue to $ 1 billion (approximately Rs. 7,350 crores) in the United States over three years.
Snap prizes $ 1 million (approximately Rs. 7 crores) per day for users who post high quality content to Spotlight.
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Earlier this month, a report suggested that YouTube could soon make it easier for users to browse through videos by automatically translating video titles, captions, and captions into their native language. A few users have reportedly seen this feature, which appears to be enabled by the server side switch.
It can be expected to be available to more users soon. However, only Portuguese and Turkish translations have been available so far.
