SAN FRANCISCO, April 29 – Any good way to compete with TikTok. After launching the new shorts format, YouTube is speeding up monetization of its content by adding ads to the feature – a good way to attract brands and, most importantly, money.
It’s a strategy that can pay off. Alphabet, the parent company of Google, which owns YouTube, has announced results for the first quarter of 2022, revealing that it is testing ads on Shorts, a new format similar to TikTok. Although testing is still in its early stages, early feedback and results from advertisers are already positive, according to the company’s recent earnings call.
Developing monetization strategies is a logical continuation of the success of YouTube Shorts. In fact, according to the earnings call, the platform now reaches over 30 billion daily views, which is apparently a fourfold increase from last year. The American giant is now keen to capitalize on this success. As users spend more time in YouTube Short, they spend less time on regular YouTube videos, which are monetized.
Money monetization: an absolute priority
Content monetization has recently become one of YouTube’s top priorities. It’s a good way to attract brands and content creators, and in turn, maintain the platform. In addition to displaying ads in the form of shorts, YouTube has also launched a “Super Thanks” tool that allows users to send money directly to content creators. Now, all creators participating in the YouTube Partner Program in 68 countries can get these rewards. Other means deployed include “Super Chat”, which allows direct users to pay to pin their comments in chat, or “Super Stickers”, which allows creators to receive money if a user purchases a sticker.
This isn’t the first time YouTube has developed tools to get users to use the shorts format. The platform previously allocated $100 million (RM436.6 million) to create the YouTube Shorts fund. It is a strategy that appears to be working. In fact, Philip Schindler, Google’s chief commercial officer, told investors that more than 40% of content creators who received funds from the fund in 2021 were not part of the YouTube Partner Program.
It remains to be seen if these efforts will be enough to compete with the Chinese giant. TikTok has long allowed users to send money in the form of stickers during live broadcasts. Ads are becoming popular on the platform, and creators are also offering their own sponsored content. – ETX studio
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