Recently, Youtube decided to jump on the trend of short video content by introducing their own direct competitor to TikTok, Youtube Shorts, as a way of bridging the gap between the desire for people to create content that isn’t as difficult as the traditional ways of Youtube content creation. Also, Shorts will embed into the traditional profiles so that subscribing to a channel will mean Short will be seen as well.
With Shorts only recently being launched in March, it is still in its infancy, with more features and implementations to come. One of the ways it is trying to attract audiences over to its platform is by trying to launch deals with creators, utilising a pot of $100 million dollars to pay creators already using its TikTok competitor.
Throughout 2021, the goal of this pot of money is to get creators to exclusively and consistently post on this new service, earning money in the process, however the figure for how much creators can earn is still not confirmed.
The effort to get more creators to use its own platform isn’t new, however, with TikTok and Snapchat recently putting money aside as creator funds to aid with the creator base on their platforms. In July 2020, TikTok launched a $200 million creator fund, and Snapchat was paying over $1 million dollars a day when it launched Spotlight in November 2020, showing that across the board, platforms have full trust in the upcoming trends for Social Media, and want influential content creators to be exclusive to their app, ultimately attracting a larger audience.
We, at Colehouse, understand the growing trend for short video content through the platforms of TikTok, Reels etc. If this is something that you are interested in exploring with your business, feel free to contact us.