The news: Neal Mohan, Product Manager To Youtube, announced that the platform brought its Shorts Fund, a $ 100 million funds for creators, at more 30 new countries.
More on this: YouTube created the Shorts Fund in May to attract more creators to its platform, but it’s not the only one of its kind and other platforms have a lot more money to spend.
- The Shorts Fund is $ 100 million less than TIC TacThe $ 200 million Creator Fund, which was introduced last July amid TikTok’s boom in popularity.
- Facebook and Instagram also announced earlier this year that they will invest $ 1 billion by the end of 2022 to introduce new methods for creators to generate and track revenue on their platforms.
Focus on new content: TikTok’s grip on short videos is bleeding onto other platforms, and they are looking for creator funds to generate new content.
- Scroll down YouTube Shorts and you will see that many videos are plagued with watermarks from TikTok or other shorthand video services.
- Many other creator funds stress the importance of original content, but YouTube’s is particularly self-explanatory and addresses many issues related to content on the platform.
- Shorts Fund guidelines state that short film channels with videos containing “watermarks or logos from third-party social media platforms, non-original videos… or videos uploaded from other creator’s channels” will not be eligible for the Shorts Fund.
The competition: Creators don’t just bring an audience to a platform, they also attract brand partners and open up social commerce opportunities that have fiercely competing platforms.
- Social commerce and influencer marketing have been particularly effective in overseas markets, compared to the United States. Expanding the Shorts Fund to more countries will help YouTube tap markets where competition may be less intense.