The Alphabet’s creation YouTube said on Tuesday it is about to raise a $100 million fund to pay content creators who make hit videos on its new short-form video feature Shorts. The company is aiming to court more influencers.
The company stated that the fund will be released to pay creators for this year and next coming year.
The move came when the platform saw lots of young creators coming over the platform and to attract more and more to use new features. The short video trend has been started by the Chinese application- TikTok, and later was quickly copied by other social media platforms such as Reels on Instagram and now Shorts on YouTube.
The platform said that the raised fund will act as a motivating drive for the influencers to make great and engaging content over the new additional feature.
With the new trends and the market becoming more crowded, social media giants have used creator funds as a way to court more users.
Lastly, I would say a creator fund was also released by TikTok in July and raised its funding to $1 Billion in the US over 3 years. Talking about other platforms- Snap awards $1 million per day to users who post top content on Spotlight.
