According to a recent update by the online video-sharing giant YouTube, Shorts video creators can opt for the YPP with 1,000 subscribers. The announcement also underlined that the creators must have delivered 10 million views in the past 90 days on YouTube Shorts.
Starting in 2023, the platform will divide Shorts’ ad revenue into two main parts. One is to pay video makers/creators, and the other is to pay record labels whose music is being used.
The announcement has been willfully accepted by several creators, while brands also see it as a secular way of earning revenue.
How will this new announcement affect creators in general?
Pratik Gupta, Co-Founder of Zoo Media Network, says – Creators will enjoy all the YouTube Partner Program (YPP) benefits, including revenue sharing and the various ways they may earn money on the platform. For creators, this announcement is a huge opportunity and a massive boost, and YouTube Shorts may become the most preferred platform due to these revenue-generating possibilities. This allows creators to express themselves through short-format content and make actual revenue. Since it gives all creators an equal opportunity for success, it was essential to introduce substantial revenue sharing on Shorts.
YouTube is a fantastic platform for contemporary creativity, helping content creators to support themselves through the sale of their reviews, parodies, and ads. Expresses Prakhar Gupta, YouTuber & Co-Author, Don’t Shut Up.
He further adds YouTube is expanding its YPP monetization plan to empower more creators to profit from Shorts videos. It will allow both long-form and short-form video makers to monetize their work. Short-format videos keep garnering more attention all the time. Short, engaging videos have a unique ability to capture viewers’ interest and attention, which can result in high levels of engagement for any brand and creator, leading to greater visibility and engagement.
Prakhar calls this new program a big win for all the creators. It will attract many viewers to the YouTube community as a whole. As one cannot exist without the other, it will scale both the creator and the platform to newer heights. He adds.
Google estimates that YouTube Shorts receive over 30 billion daily views worldwide, a four-fold increase from the previous year. It is impossible to disregard this statistic. Disha Poswalia, Influencer Marketing Manager at Optiminastic Media, says, “With such a large number, it wouldn’t be exaggerating to state that the creators will undoubtedly be impacted in multiple ways. One method could involve the fixed money they get for making shorts, which will change to revenue from these commercials. As YouTube Shorts viewership is based on a percentage of all YouTube time, creators will indefinitely need to provide more creative and engaging content to draw viewers to their videos and increase earnings.”
How is it going to change the creator economy?
The long-format version of YouTube, which allows creators to showcase their ideas and share their abilities with viewers, is one of the platform’s most prominent features. However, with decreasing attention span of the viewers as well as YouTube’s significant shift, the perception of the platform would be changed to a reasonable extent.
Poswalia, says, “Today, there is a tonne of new content creators, including parents, children, teachers, singers, artists, and more, who produce high-quality and exciting content. YPP will undoubtedly change the game for producers everywhere once it launches because there won’t be any music limits, giving them the flexibility to use any song they want in their production. This platform has a tonne of untapped potential. It might even take off content behemoths like TikTok, famous worldwide, Instagram Reels, and Spotlight, attracting attention and having long consumption times.”
Pratik says, “YouTube is the center of the creative economy because it provides a different incentivized model that enables creators greater flexibility and choice. YouTube is where sustainable careers are built, and this announcement will make each of them explore the platform on an even larger scale.”
Divyansh Gala, Group Head – Outreach, SoCheers, appreciates the announcement and says, “It will diversify the platform’s growing creator community. This will allow more than 2M creators to partner under the platform’s YPP. This will add value to the creators creating short-form content on various platforms but not getting the revenue basis the views they bring in for their content. Also, while creating long-form videos on YouTube, the creators had to spend more time, money, and effort to conceptualize and execute such videos. At the same time, its counterparts allowed producing 15-20 second videos that could be shot in lesser budgets and time. Hence, the industry saw a shift in viewership. And, now, with the recent announcement, the creators will be able to tap back into YouTube’s expansive viewer base and explore newer avenues of the platform. I believe this will attract more creators from other platforms to leverage Google-owned platform’s services more innovatively.”
The YPP will be a top priority for the creators producing and creating quality content on YouTube Shorts. They will now move towards making more distinct material to grab more followers and subscribers because it will allow them to earn income while creating content.
