May 12, 2021
On Tuesday, YouTube announced a $100 million fund to pay content creators that make hit videos using its latest short-form video feature, Shorts.
The announcement on May 11 stated that the fund will launch soon and pay creators this year and 2022.
This investment comes at a time when platforms continue to attract young creatives who have a significant following and earning potential through short comedy sketches and dance routines.
Popular app TikTok kicked off the trend of short video clips and was later copied by Facebook-owned Instagram Reels, Snapchat’s Spotlight, and YouTube Shorts.
YouTube will start testing ads on Shorts as the market for short video features grows and content creators begin making videos for the platform.
TikTok launched a Creator Fund in July and later increased its funding in the U.S. to $1 billion over three years, while Snapchat pays users who post top content on Spotlight $1 million a day.
For more information, read the original story in Reuters.
