YouTube announced on Tuesday (11th of May, 2021) the creation of a fund that will allocate a total of $ 100 million to creators of Shorts, the format of videos platform that directly rivals TikTok.
The company’s goal is to attract more people to the service and keep popular creators there from a fixed form of monetization. Every month, “hundreds of creators” who have had the most popular videos of the period will be contacted to receive the bonus.
Other payment formats should be revealed over time, as the idea is to take tiktok stars and take them to Google’s video platform. “The Shorts Fund is the first step in our journey to building a monetization model for Shorts on YouTube. This is one of our top priorities and it will take some time to get [the model] right,” the statement said.
The fund will be officially launched soon and will have more details, such as information on what would be “more engagement”, revealed in the coming months. Anyone can join the program without necessarily being part of the YouTube Partner Program —and, at least for now, Shorts are only released to India and the United States.