Youtube, the video streaming giant, has revealed that it has paid out more than $50 billion to its creators, artists, and media companies in the last three years.
Susan Wojcicki, YouTube’s CEO, revealed this while speaking at the inaugural ‘Made on YouTube’ event.
“When we launched the YouTube Partner Program in 2007, it was revolutionary, and it is still revolutionary today.” Over the last three years, YouTube has paid more than $50 billion to creators, artists, and media companies.
That $50 billion has changed the lives of creators all over the world, allowing new voices and stories to be heard. But we’re not finished yet. We made a big bet when we launched the YouTube Partner Program. We only succeed when our creators succeed. And we’re doubling down today.
“YouTube’s first-of-its-kind, industry-leading Partner Program changed the game for long-form video,” said YouTube Chief Product Officer Neal Mohan. And now we’re changing the game yet again, this time by allowing Short-form creators to participate and introducing revenue sharing for Shorts.
This is the first time revenue sharing for short-form video has been offered at scale on any platform, adding to the ten ways creators can already earn money on YouTube. It will be available to all YPP participants, including new, mobile-first creators joining the program for the first time.”
Lyor Cohen, YouTube’s Global Head of Music, also spoke about the company’s plans for creators.
“Creator Music is the way of the future.” On YouTube, we’re bridging the gap between artists and creators in order to elevate the soundtrack of the creator economy. It’s a win-win-win for artists, songwriters, creators, and fans. Artists now have a new way to get their music out into the world thanks to Creator Music. Fans can now discover music they enjoy on the channels of their favorite creators, and both creators and artists will benefit from new revenue opportunities.”
Representatives from the next wave of the creator economy discuss how the recent announcements will affect the broader ecosystem:
Marshmello, a producer/DJ, stated that “Creator Music allows us to tap into YouTube’s massive creator community and reach new fans.” Creator Music feels like one of the latest evolutions that makes YouTube such a valuable place for my music and, more importantly, my fans.”
“Over the last three years, YouTube has paid out $50 billion to over 2 million creators, artists, and media companies,” said YouTube creators Colin and Sam. more than any other platform – through its Partner Program That’s $45 million per day. It is $1.9 million per hour, or $528 per second over the last three years.
In order to gain access to YPP, Shorts-focused creators can apply starting in early 2023 if they reach a threshold of 1,000 subscribers and 10 million Shorts views in 90 days. According to the company, these new partners will receive all of the benefits that YPP provides, including ad monetisation across Shorts and long-form YouTube videos.
This is an addition to the existing criteria, which states that long-form creators can still apply to YPP once they reach 1,000 subscribers and 4,000 watch hours.
While YouTube maintains the same level of brand safety for advertisers, creators can select the option that best fits their channel.
YouTube will also introduce a new level of YPP with lower requirements to assist creators who are just starting out on YouTube.