With the potential threat of a U.S. ban looming, TikTok is facing growing competition from YouTube Shorts, its rival in the short-form video space. In a bold move, YouTube announced on Thursday that its platform has reached an average of 70 billion daily views and that over 25% of channels in the YouTube Partner Progam are now earning revenue through Shorts.
The success of YouTube Shorts amidst the uncertain future of TikTok speaks volumes about the impact of our platform and the opportunities it offers for creators.
This news comes just weeks after TikTok revealed that its revamped creator fund has seen a staggering 250% increase in total revenue in the last six months. The year-old fund, which replaced the original $1 billion Creator Fund, is officially exiting its beta phase.
In September of 2022, YouTube first introduced monetization options for Shorts creators as part of its plans to expand the YouTube Partner Progam. Prior to this, creators producing longer-form content were required to have 1,000 subscribers and 4,000 watch hours to qualify for revenue-sharing. However, with the recent changes, Shorts creators now only need 1,000 subscribers and 10 million Shorts views over a 90-day period to earn 45% of their short videos’ ad revenue.
One year later, YouTube has seen immense success with this program. But what’s even more noteworthy is that many Shorts creators are also earning money through other means. In fact, over 80% of YPP creators monetizing Shorts also make money through long-form advertising, fan funding, YouTube Premium, BrandConnects, Shopping, and other avenues. This suggests that creating content for Shorts is not just a standalone venture for many creators, but rather a key aspect of their larger business strategies.
In total, YouTube’s 16-year-old YPP now boasts over 3 million creators from all corners of the world and has paid out an impressive $70 billion to creators, artists, and media companies in the last three years alone. In a clear jab at TikTok, YouTube proudly declares itself as the largest creator monetization platform available.
As the battle between TikTok and YouTube intensifies, only time will tell which platform will come out on top. But with its strong user base, vast monetization options, and years of experience, YouTube’s confidence is certainly well-supported.
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