YouTube just announced the expansion of monetization methods for creators worldwide.
The “Made on YouTube” event just took place in Los Angeles, California, USA. YouTube shared that the platform is expanding its monetization system, introducing new ways for creators to earn extra income through Shorts (less than 1 minute videos) and reviving the music industry. music by opening the possibility of ad monetization for those who incorporate music in their videos.
At the event, YouTube revealed that over $50 billion is the amount the platform has paid out to creators, artists and media companies over the past three years.
This announcement reflects the diversity of YouTube’s growing community of creators and allows more than 2 million creators with the monetization button enabled on the platform to earn additional income across any creative format.
The “Made on YouTube” event just took place in Los Angeles, California, USA
Key YouTube innovations showcased at the event included:
Expand your participation in YPP. From early 2023, Shorts creators can apply to participate in YPP if their Shorts channel meets more than 1000 subscribers and 10 million views within 90 days. New members will enjoy all the benefits YPP has to offer, including monetized advertising on Shorts and long videos on YouTube.
Introduced revenue sharing model on Shorts for the first time. With over 30 billion views per day and more than 1.5 billion users logging in every month, Shorts is really booming worldwide. In honor of Shorts creators, from the beginning of 2023, YouTube will move away from the fixed fund and start operating a revenue sharing model for Shorts, applicable to all current YPP members and future.
The complexity of music copyright means that creators won’t get paid even if their long-form video uses background music. To build a bridge between the music industry and creators, YouTube introduces Creator Music users, a new destination that gives creators easy access to a huge catalog of music to use in videos. , and provides artists and music rights holders with a revenue stream for their work on YouTube.
Creators can now get high-quality music licenses at a reasonable cost, giving them full monetization potential, meaning they’ll keep the same revenue share as they were earned on videos without any music. And for creators who don’t want to pre-purchase a license, they’ll be able to use the songs and share the revenue with the artist and related copyright holders.
Creator Music is currently in beta in the US and will expand to more countries in 2023.