If you’ve ever considered becoming a YouTube creator, it definitely sounds like it could be a decently lucrative decision.
As reported by The Hollywood Reporter, the video platform saw a huge 40% year-over-year increase in the amount of channels making over $10,000 a year.
That’s according to YouTube CEO Susan Wojcicki, who shared an open letter containing the latest figures on Tuesday, January 25th. Although she didn’t reveal the exact number of channels making up that 40% increase, it’s still a notable increase nonetheless.
Wojcicki emphasised that the platform has been promoting new efforts to allow creators to monetise their work. The open letter highlighted Shorts, for example, YouTube’s new attempt at competing with the massive success of TikTok: Wojcicki stated that the short-form platform had reached a whopping five trillion all-time views since it first started rolling out in late 2019 and 2020.
Podcasting was also highlighted as an area of focus for the future, with the CEO acknowledging that this would be an “integral part of the creator economy.” Competitors like Spotify have been massively expanding into the podcast market recently, leaving YouTube lagging behind.
One thing the open letter didn’t touch upon was YouTube’s Originals, which the platform recently confirmed would be scaled back. YouTube announced that only Black Voices and YouTube Kids Funds would receive funding moving forward as the company’s global head of original content, Susanne Daniels, was confirmed to be departing her role in March.
Originals started strongly back in 2016, aiming to develop film and TV content that would grow YouTube’s youth audience and discover awards-worthy series. It soon lost its way though: successful originally produced shows ended up leaving the platform, including Cobra Kai which headed to Netflix. YouTube did explain that it will maintain its commitments to projects already in development though.
Love Money?
Get the latest Money news, features, updates and giveaways straight to your inbox Learn more
For more on this topic, follow the Money Observer.
Check out this beginner’s guide to starting your own YouTube channel:
