YouTube has established a $100 million fund in an effort to attract creators to its YouTube Shorts TikTok competitor.
TikTok has taken the social media world by storm, attracting content creators and users alike. During the pandemic, the platform was the clear winner among social media companies, and did especially well attracting the most valuable demographics. As a result, virtually every major competitor has been working to come out with features to better compete with TikTok.
YouTube Shorts is YouTube’s answer, and the company is willing to spend big bucks to attract content, unveiling the YouTube Shorts Fund. The $100 million fund will be distributed over 2021 and 2022.
We’re introducing the YouTube Shorts Fund, a $100M fund distributed over the course of 2021-2022. Anyone is eligible to participate in the fund simply by creating unique Shorts that delight the YouTube community.
Each month, we’ll reach out to thousands of creators whose Shorts received the most engagement and views to reward them for their contributions. We’ll also ask these creators to share their feedback with us so we can continue to improve the product experience.
Only time will tell if YouTube and other platforms can crack TikTok’s winning formula, but the YouTube Shorts Fund is certainly a step in the right direction.