YouTube will invest $100 million to become the new TikTok

YouTube will invest $ 100 million to become the new TikTok
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Created a fund for content creators to make successful videos. It’s to boost your new “Shorts” feature.

Alphabet Inc’s YouTube announced Tuesday a $100 million fund to pay content creators who make successful videos on its new short video feature “Shorts” as the platform seeks to attract more influencers.

The fund will launch in the coming months and will pay creators this year and in 2022, YouTube said.

The investment comes at a time when platforms are competing to attract young creators who are building a huge fan base – and big profit potential – by filming short comedy and dance routines.

The TikTok app started the viral short video trend and was quickly copied by others like Facebook-owned “Reels” from Instagram, Snapchat’s “Spotlight,” and YouTube’s “Shorts.”

The online video platform said the new fund will pay thousands of creators each month whose videos attract the most viewers on “Shorts.”

YouTube added that it will begin testing the incorporation of advertising in “Shorts.”

As competition increased in the short video feature market, platforms used creator funds as a way to attract more users.

TikTok launched a fund for creators in July and subsequently increased its funding to $ 1 billion in the United States in three years.

Snap distributes $ 1 million a day to users who post featured content on Spotlight.