Image Source: Mashable
The short-form video feature on YouTube, similar to TikTok, has been developed for two years. The process of monetizing such content is set to start, and the producers will receive a portion of the profits.
Starting in early 2023, YouTube Shorts-focused creators who have at least 1,000 subscribers and 10 million Shorts views over a 90-day period are eligible to apply to join the platform’s revenue-sharing program. Amjad Hanif, vice president of creative products at YouTube, claims that the new partners will take advantage of all the advantages that our program provides, including the numerous revenue streams like long-form commercials and Fan Funding.
The ad-revenue sharing program on YouTube recently unveiled a new mechanism for creators to get paid for the views of their videos while also licensing music for their videos.
Here is how the Shorts ad-revenue sharing system will operate: Ads pause between videos in the feed of YouTube Shorts. The money made from these advertisements will be combined each month and given to the people who made the short films. It will also be used to pay for the clips’ music licensing fees. They will keep 45% of the revenue from the total amount given to creators, which will be distributed based on their percentage of total Shorts views, as opposed to 55% for long-form videos under the basic YouTube Partner Program (YPP). According to Hanif’s blog post from Tuesday, whether they use music or not, the revenue portion stays the same.
Thanks to this innovative methodology, YouTube can now compensate all YPP producers who contribute to the Shorts experience, not only those whose videos appear adjacent to advertisements. It also simplifies the complications of music licensing so that creators don’t have to worry about whether or not they utilize music in their Shorts because some of our most bright and memorable Shorts are fueled by music.
In a June press release, Google bragged that YouTube Shorts has more than 1.5 billion monthly viewers who are logged in. TikTok, owned by ByteDance, has been competing with Shorts for market share. A year ago, YouTube introduced a $100 million fund for YouTube Shorts in an effort to encourage the production of short films. Under this program, creators of popular videos may receive up to $10,000 each month.
In the meanwhile, YouTube is launching Creator Music, a brand-new location in YouTube Studio that provides access to a library of music for producers to utilize in their long-form videos. With it, creators may purchase reasonably priced, high-quality music licenses that allow them to monetize their work fully; they will continue to receive the same income share as they would on videos without music. In addition, Hanif claims that those who don’t want to pay a license fee in advance will still be able to use music and split profits with the song’s artist and other related rights holders.
Hanif also out that the majority of lengthy videos using third-party music had, up until now, been ineligible for revenue due to the difficulties of music licensing.
YouTube target 2023 launch
In 2023, Creator Music will launch in additional nations after completing its beta phase in the United States.
Millions more producers who make money from their films through advertising may now be found thanks to YouTube’s 2007 establishment of the YouTube Partner Program for ad-revenue sharing. As a result, YouTube claims to have paid creators, artists, and media companies more than $50 billion in the last three years.
The Super Thanks “tip-jar” option for Shorts is also being made available by YouTube in beta to “thousands of creators,” with a full deployment anticipated for next year. By purchasing highlighted Super Thanks comments, viewers may express their appreciation for their favorite Shorts, and artists can communicate with their followers. Additionally, as part of its yearly BrandConnect event for marketers, the platform intends to link brands and Shorts artists together.
According to YouTube, a “new level” of the YouTube Partner Program will also be introduced with fewer prerequisites and faster access to fan-funding features like Super Thanks, Super Chat, Super Stickers, and Channel Memberships. “We’ll provide pathways for long-form, Shorts, and Live creators to join this new tier in 2023 to reward creators across many genres. Watch this space for further information,” Hanif wrote.
Creators must have at least 1,000 subscribers and 4,000 view hours to be eligible for the current YouTube Partner Program.