Let's face it: while there's some fantastic content on YouTube, there's also some stuff that features good writing and acting, but is recorded using a bad cameraphone and a poorly disguised studio apartment. YouTube intends to address that problem with the new YouTube Partner Grants program.
This initiative will involve YouTube distributing $5 million in grants to certain official partners. The idea, as explained on the Official YouTube Blog, is that "[t]his additional funding can allow partners to invest in better cameras, achieve higher production quality, expand their marketing efforts, expand their staff, or just hire more talent. Anything that will help them evolve their art, business, and ultimately the entire creator community."
Of course, YouTube isn't just mailing bags of cash to every partner who's ever made a popular video. And people shouldn't even bother to contact the organization on their own. Instead, (unspecified) requirements related to things like video views and audience engagement have been established. Then YouTube will reach out to partners who might be eligible and see if they'd like to submit a proposal.
Another slight catch is that the grants aren't so much gifts as loans; YouTube made clear that they "serve as an advance against the partner's future YouTube revenue share."
Still, this program should provide some content creators with amazing opportunities. Hopefully it won't be long before proposals start getting approved and the overall quality of videos on YouTube takes a turn for the better.