YouTube is all set to introduce the next chapter in rewarding creativity on the platform. At its inaugural Made on YouTube event, YouTube shared that it is expanding the platform’s monetization system. The YouTube Partner Program (YPP), to allow more creators to join the program
It is introducing new ways for creators to earn revenue through Shorts. For this, the platform is opening up ad monetization for those who feature music in their videos. This will allow 2 Million creators to make money on YouTube across any creative format.
“Over the last three years, YouTube has paid creators, artists, and media companies more than $50 billion dollars (through the YPP),” Susan Wojcicki, CEO of YouTube, said. “And today, we’re doubling down. We’re introducing the next chapter in how we reward creativity on our platform by expanding access to our YouTube Partner program.”
YouTube announces new ways for creators to make money
Starting in early 2023, Shorts-focused creators can apply to YPP by meeting a threshold of 1,000 subscribers and 10 million Shorts views over 90 days. These new partners will get all the benefits YPP offers, including ad monetization across Shorts and long-form YouTube videos. This is another option to the existing criteria where long-form creators can still apply to YPP when they reach 1,000 subscribers and 4,000 watch hours.
The platform also said that in order to support creators who are early in their YouTube journey, it will also introduce a new level of YPP with lower requirements that will offer earlier access to Fan Funding features like Super Thanks, Super Chat, Super Stickers, and Channel Memberships.
The platform will double down the Revenue of Creators
With 30 billion daily views and 1.5 billion monthly logged-in users, Shorts are exploding around the world. To reward this new creative class, beginning in early 2023, YouTube is moving away from a fixed fund and doubling down on a unique revenue-sharing model for Shorts for both current and future YPP creators.
Because ads run between videos in the Shorts Feed, every month, revenue from these ads will be added together and used to reward Shorts creators and help cover costs of music licensing. From the overall amount allocated to creators, they will keep 45 percent of the revenue, distributed based on their share of total Shorts views. The revenue share remains the same, no matter if they use music or not.
YouTube is going to introduce Creator Music Feature Soon
In addition to this, the company is going to add the Creator Music feature. It is the place where creators can now buy affordable, high-quality music licenses that offer them the full monetizing potential. They will keep the same revenue share they’d usually make on videos without any music. And for creators who don’t want to buy a license up front, they’ll be able to use songs and share revenue with the track’s artist and associated rights holders.
A tech-freak self-motivated professional that thrives on innovation and overcoming challenges. She is a trained writer and scholarship holder. Went through with writing for a lot of big media houses. Writing is her all-time favorite job. Know more about her on facebook