Google-owned online video platform YouTube has announced a $100 million fund to pay YouTube Shorts creators for their most viewed and engaging content for two years, as the company aims to attract more influencers.
The fund will launch in the coming months and will pay creators in 2021 and 2022. The investment comes as part of the platform’s efforts to attract young creators who are building huge fan followings and big earning potential by filming short videos.
The most popular Chinese app TikTok brought the trend of short-form video clips initially and it was quickly copied by other social media platforms such as Facebook-owned Instagram’s Reels, Snapchat Spotlight and YouTube Shorts.
YouTube said the new fund will pay thousands of creators each month whose videos on Shorts receive the most engagement from viewers. The creators can’t apply for the fund to help with content production.
The creators don’t need to be in the YouTube Partner Program to qualify for the fund. Anyone who creates original content for YouTube Shorts will be eligible to receive rewards.
YouTube declined to share more specific details about the fund’s operations, including how creators will be assessed or what specific thresholds are there for receiving payments.
As the market for short video features becomes more crowded, platforms have used creator funds as a way to court more users. TikTok launched a creator fund in July and later increased its funding to $1 billion in the US over three years. Snap awards $1 million per day to users who post top content on Spotlight.