Hanif also said that YPP will be extended to early stage creators on the platform as well. “A new level of YPP with lower requirements will offer earlier access to Fan Funding features like Super Thanks, Super Chat, Super Stickers and Channel Memberships. To reward creators across a range of formats, we’ll have paths for long-form, Shorts and Live creators to join this new tier in 2023," he said.
YouTube’s monetisation plan comes as similar plans have rolled out from various platforms. Instagram, the Meta-owned social media platform, has announced the intent to allow creators to monetise their work. In June this year, Meta chief Mark Zuckerberg said that while the company eventually plans to set-up a revenue sharing model with its creators to monetize their content on the platforms, it will likely put off such a model to onboard more creators on the platform.
On 22 July, a report by market research firm Redseer projected short video monetization to scale $19 billion by 2030. As of this year, the firm projected that short video monetization in India was worth only $150 million, which the official advent of YouTube in this sector may help improve.
Hanif said YouTube will now include ads, which will run in between videos on its Shorts feed. The total ad revenue from all ads running on Shorts in India will be added at the end of the month, and distributed among eligible creators who qualify for the programme.
YouTube will offer 45% of the total advertisement revenue it earns from India to its creators, while the remaining amount will contribute to paying for licensing music that its creators use for content on the platform. The company added that YPP has seen creators collectively earn over $50 billion around the world over the past three years.
“We expect the majority of our Shorts Fund recipients to earn more money under this new model, which was built for long term sustainability. Instead of a fixed fund, we’re doubling down on the revenue sharing model that has supercharged the creator economy and enabled creators to benefit from the platform’s success," Hanif added.
India also has a number of homegrown short video platforms, alongside Instagram and YouTube, which include ShareChat’s Moj and VerSe Innovations’ Josh. While these platforms are much smaller than Reels or YouTube Shorts, they, too, have started offering creators monetization options.
On 28 April, ShareChat announced a ‘Moj for Creators’ initiative, which it said will help creators on Moj earn up to ₹3,500 crore by 2025. Moj’s monetisation initiative, however, is different — the platform will look to help creators earn through virtual gifting from viewers, live commerce, and other initiatives.
Abhishek Gupta, engagement manager at market research firm Redseer, said that for the homegrown brands, following a similar monetization model could be difficult. “Following an ad sharing revenue model means that there has to be ample ad revenue in the first place, for a platform to run a successful ad sharing monetization campaign. While the homegrown platforms have started introducing monetisation plans and ads as well, the volume and revenue from ads still remain limited," he said.
Redseer, in a report published on 22 July, said monetisation of short videos in India can grow from around $150 million currently, to $19 billion by 2030. Initiatives such as YouTube’s monetization of Shorts would play key role in helping the industry reach this target.
Creators, including those who are not regular on YouTube, welcomed the move. Shubham Gaur, who has over 350,000 followers on Instagram and 38,000 followers on YouTube, said that this could see more people cross-post their Reels content to YouTube Shorts as well. Given the nature of Shorts, Gaur added that the ability to cross-post Reels to YouTube could benefit creators in the country.
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