YouTube Expands Revenue Streams For Content Creators
By Prosper Mene
YouTube, online video sharing and social media platform has introduced a dual revenue generation for creators and users as it revealed new ways for creators to earn revenue through Shorts and ads monetization for those who feature music in their videos.
This was made public at its inaugural Made-on-YouTube event where it shared it’s plan to expand the platform’s monetization system (YPP) the YouTube Partner Program to enable more creators join the program.
Susan Wojcicki the CEO of YouTube in her comment said: “The YouTube Partner Program was revolutionary when we launched it back in 2007, and it’s still revolutionary today. Over the last three years, YouTube has paid creators, artists, and media companies more than $50 billion dollars. That $50 billion dollars has changed the lives of creators around the world and enabled new voices and stories to be told. But we’re not done yet. When we introduced the YouTube Partner Program, we made a big bet: we succeed only when our creators succeed. And today, we’re doubling down. We’re introducing the next chapter in how we reward creativity on our platform by expanding access to our YouTube Partner program.”
“Creator Music is the future. We’re building the bridge between artists and creators on YouTube to elevate the soundtrack of the creator economy; it’s a win-win-win for artists, songwriters, creators and fans. With Creator Music, artists have a new way to get their music out into the world; fans can now discover music they love on their favorite creator’s channels, and both creators and artists will have new revenue opportunities.”
Added Lyor Cohen, YouTube’s global head of music