Shorts is YouTube’s TikTok clone. It allows users to share short creative videos, just like TikTok. TikTok is a video-sharing platform that lets users share short creative videos using the various tools available on the platform. Since TikTok’s arrival, other platforms have tried to create a feature that is the same or is built on TikTok’s idea. YouTube Shorts is one of the many TikTok clones available, and according to information from reports YouTube has created a $100 million YouTube Shorts Funds with which it plans to pay creators who create engaging content. YouTube seeks to draw in more creators to its platform and encourage them to keep creating engaging content by providing compensation.
Creators who will be eligible to receive from this fund are those who have the most views and impressive engagements, and YouTube will be in contact with these creators monthly.
For now, YouTube has not said how much it intends to pay creators or if there will be a difference in payment based on the number of views and amount of engagement but has assured that thousands of creators stand to benefit from the fund. Creators who create content for Shorts are eligible but the shared content has to be 100 percent original.
YouTube has also announced that only users in India and the U.S. are eligible to earn from the YouTube Shorts Fund. YouTube has also not given a date for when this payment will start but creators can expect it to kick-off before the end of this year. The fund is also expected to run into next year.
YouTube is quite late to the train of paying creators for posting engaging content. TikTok has been paying its creators for some time now. It launched a $200 million fund in July of last year to pay creators of engaging content. Snapchat also pays creators for creating engaging content on its TikTok-like Spotlight.
TikTok is banned in India and this is why the YouTube Shorts Fund might turn out to be a great idea. TikTok left a huge space after it got banned, and apps like YouTube, Instagram, etc., are trying to fill that void by providing Indian users with alternatives. With the $100 million YouTube Shorts Fund, Google should be able to take over the short video-sharing space in India as well as turn Shorts into a household name.