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| YouTube VS TikTok |
The start is with YouTube, which plans to pay $ 100 million over the next 18 months to influencers who post short videos on their site to rival TikTok.
The money will go to the YouTube Short Video Fund, which will be distributed monthly to the videos that receive the most views and shares.
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Director of the Global Partnership of YouTube Short Videos Empowerment Amy Singer said: The Short Videos Box is the first step in our journey to build a monetization model for short films on YouTube, which is a top priority for us.
she also said: It will take us some time to properly understand it and we are actively working on this matter, and we will receive feedback collected from our community to help develop a long-term program designed specifically for this new feature.
TikTok Billions
The new YouTube funding program is the latest effort in similar funding operations that are taking place through social media companies as part of the effort to improve financial rewards for influencers.
On the other hand, TikTok said it would spend more than $ 2 billion worldwide over the next three years through its Creator Fund.
The Snap app earns up to $ 1 million a day for users who post to its Spotlight feed.
Facebook lurks
Mark Zuckerberg said recently that Facebook is considering setting up its own fund that helps influencers direct users to the platforms, which then enables companies to generate income through ads.
For many years, social media has left it to a large extent for creators to figure out how to make money on their own, but the rise of TikTok has stunned the industry, especially its early focus on adding ways for creatives to make money on its platform.
In response, competitors are scrambling to add similar features and software such as the YouTube Short Video Box.
Short video clips
YouTube first launched the short video feature outside of America last year, then launched it in America in March.
The videos already achieved 6.5 billion views before being released in the United States.
YouTube, unlike most of the industry, has focused on bringing in money to creators, and its ad revenue sharing platform remains the gold standard, and is the best way to make millions of dollars from social media.
The platform also continues to be popular: 81% of US adults said they viewed YouTube last year, up from 73% the year before, according to Pew research.
The $ 100 million allocated to the fund is just a minor amount for the video site, which generates more than $ 20 billion in annual revenue.
But this is likely only the beginning, and given the platform's position in the industry, the funding is likely to drive an already frenetic competition to gain and keep influencers' attention.
