As the potential ban on TikTok looms in the United States, YouTube is seizing the opportunity to highlight the remarkable success of its own short-form video platform, YouTube Shorts. In a recent announcement, the tech giant revealed that Shorts now averages an astonishing 70 billion daily views, a testament to the platform’s rapidly growing popularity.
But the real game-changer lies in the fact that over 25% of channels participating in YouTube’s Partner Program are now monetizing their videos through revenue-sharing on Shorts. This significant development underscores YouTube’s commitment to empowering creators and providing them with diverse revenue streams.
The timing of this announcement is particularly noteworthy, as it comes hot on the heels of TikTok’s recent revelation that its revamped creator fund has seen a staggering 250% increase in total revenue over the past six months. TikTok’s year-old fund, which replaced the initial $1 billion Creator Fund, has now officially exited its beta phase.
YouTube’s move to introduce monetization options for Shorts creators in September 2022 was a strategic decision that has yielded impressive results. Prior to this change, YouTubers producing long-form video content had to meet specific thresholds, such as 1,000 subscribers and 4,000 watch hours, to qualify for revenue-sharing. However, starting in early 2023, Shorts creators could unlock a new threshold: 1,000 subscribers and 10 million Shorts views over a 90-day period. Qualifying creators would then earn 45% of the ad revenue generated from their short videos.
One year since the launch of this program, YouTube proudly highlights that creators participating in the partner program for Shorts often monetize their content through multiple avenues. Notably, over 80% of these creators also generate revenue from long-form advertising, fan funding, YouTube Premium, brand collaborations, YouTube Shopping, and other means. This diversification underscores that creating for Shorts is not necessarily a stand-alone endeavor but rather an integral component of creators’ broader business strategies.
In total, YouTube’s 16-year-old Partner Program now boasts over 3 million creators from around the world, and the platform has paid out a staggering $70 billion to creators, artists, and media companies in just the last three years. YouTube confidently asserts that this figure surpasses “any other creator monetization platform,” taking a not-so-subtle jab at TikTok in the process.
As the battle for short-form video supremacy intensifies, YouTube’s strategic moves and impressive creator monetization efforts position it as a formidable contender in this rapidly evolving landscape. By empowering creators with diverse revenue streams and leveraging the power of its established platform, YouTube aims to solidify its position as a leading destination for both creators and viewers alike.
