YouTube Shorts are being watched by over 1.5 billion users every month. “This expansion has launched a new trend on the platform: ‘the rise of the multiformat creator,” YouTube said in its statement.
YouTube Shorts, the short-form videos, was launched in 2020. The Verge reported that Shorts have gradually made their way across the platform, and YouTube has introduced additional features to Shorts similar to TikTok. As of April 2022, Shorts received up to 30 billion views a day, according to Google. The company recently launched a $100 million YouTube Shorts fund that paid creators up to $10,000 per month. The payment amount varied based on video engagement and the location of the viewers.
Alphabet CFO Ruth Porat in April said that the company is testing ways to monetise on shorts and that the early feedback from advertisers was encouraging. Since Shorts has been gaining viewership on YouTube, the company would have to make up for the reduced ad revenue, The Verge reported.