YouTube announces new ways for creators to make money through Shorts

YouTube said it has introduced 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 monetisation 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, and opening up ads monetisation for those who feature music in their videos.

The development reflects the diversity of the platform’s growing creator community and allows its over 2 million monetising creators to make money on YouTube across any creative format.

“Over the past three years, YouTube has paid creators, artists, and media companies more than $50 billion dollars,” said Susan Wojcicki, CEO of YouTube. “ 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.”

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 monetisation 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.

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 per cent 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.

“This is the first time revenue sharing is being offered for short-form video on any platform at scale, adding to the ways creators can already earn revenue on YouTube,” said Neal Mohan, YouTube’s Chief Product Officer.

The complexities of music licensing have meant that most long-form videos that feature music don’t result in creators being paid. To build a bridge between the music industry and creators, YouTube is introducing Creator Music, a new destination that gives creators easy access to an ever-growing catalogue of music for use in their videos, while providing artists and music rights holders with a new revenue stream for their music on YouTube. Creators can now buy affordable, high-quality music licenses that offer them 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. Creator Music is currently in beta in the U.S. will expand to more countries in 2023.

“We’re building the bridge between artists and creators on YouTube to elevate the soundtrack of the creator economy,” said Lyor Cohen, YouTube’s Global Head of Music.

Originally appeared on: TheSpuzz