With TikTok potentially banned in the US, YouTube is touting how much its TikTok competitor YouTube Shorts is making for creators. The company announced Thursday that its short-form video platform now averages more than 70 billion views per day, and more than 25% of channels in YouTube's Partner Program monetize their videos through revenue share on Shorts. did.
The news quickly follows TikTok's announcement earlier this month, in which the ByteDance-owned short video app said its revamped Creator Fund has increased its total revenue by more than 250% over the past six months. It is. TikTok's Fund, which was created to replace TikTok's $1 billion Creator Fund, is currently out of beta.
YouTube is introducing monetization options for shorts creators in September 2022 as part of its plans to expand the YouTube Partner Program (YPP). Previously, YouTubers creating long-form video content needed 1,000 subscribers and 4,000 hours of watch time to qualify for a revenue share. However, starting in early 2023, a short video creator could meet new standards of 1,000 subscribers and 10 million short video views in his 90 days. These creators will get their 45% of advertising revenue from short videos.
The company says the program is now one year old. Additionally, YouTube points out that creators participating in its Short Video Partners program often earn money in other ways as well. More than 80% of his YPP creators make money through short videos, but they also make money from long-form ads, fan funding, YouTube Premium, BrandConnects, shopping, and other avenues. This shows that for many people, creating short videos isn't necessarily a standalone endeavor, but rather functions as an aspect of a creator's larger business.
YouTube says the 16-year-old YPP now includes more than 3 million creators around the world and has paid out $70 billion to creators, artists, and media companies in the past three years alone. This is a clear swipe aimed at TikTok, which YouTube notes is larger than “any other creator monetization platform.”