YouTube is testing a Creator Ads Sales Pilot – an experiment allowing creators to sell advertisements directly to brands.
The program would let creators sell ads to brands they already have a relationship with, on YouTube. YouTube has also introduced Members-only Live Streams, allowing creators to securely share live streams with their members for a fee.
YouTube has been improving monetization for creators lately. In February, YouTube introduced ‘Viewer Applause‘ an option that lets viewers support their favorite creators financially.
In July 2019, YouTube introduced opportunities for creators to monetize their content, engage with the community, and generate revenue with options such as Super Stickers, Super Chat, and more.
Additionally, the bug that distorted the uploading process for creators has been fixed. Previously, creators would have problems copy-pasting metadata such as description and tags, but the process has now been fixed. The platform has also incorporated new options, like the audience setting.
As per a recent report by Vox and Alphabet CFO Ruth Porat’s claims, the majority of the platform’s revenue gets paid out to creators. With more monetization options, YouTube’s biggest asset – their creators may find more reasons to stay loyal to the platform, especially with the growing competition from other social media platforms.
In November 2019, Instagram initiated IGX, a program encouraging the discovery of creators on the platform. The app was also reported to be testing a way to let IGTV creators monetize their content. Further, Instagram and parent company Facebook, both have been giving a push to Local Creators, in Facebook’s case especially to grow its Watch section. As of now, on Facebook Watch creators can earn up to 55 percent cut of revenue from Ad Breaks inserted in their content.
Snapchat too launched a few exclusive shows with Indian creators such as TVF and Miss Malini on the platform.
It will be interesting to see how social media platforms create a desirable package for creators and distinctive content for consumers in the coming days.