Facebook and YouTube prepare to challenge TikTok
The rise of TikTok has led to an explosion of shorthand content on the internet. YouTube has also taken advantage of this phenomenon with its hugely popular YouTube Shorts feature.
The rapid growth of YouTube Shorts globally is largely attributed to its success in India. Many international content creators have over 80% of their audience based in India, according to a the wall street journal report.
India’s TikTok user base of over 200 million was left with few alternatives when the ban was enforced in June 2020. YouTube shorts filled the void left by TikTok and are currently the most popular medium. most popular for abbreviated content consumption.
YouTube has now reportedly set its sights on the United States, where TikTok remains the most popular short-form video platform for users, creators and advertisers. Data platform firm Inmar Intelligence reports that US companies consider YouTube Shorts the second most lucrative market for advertising after TikTok.
Unable to use its usual monetization system for short portrait videos, YouTube had created a $100 million fund to reward content creators on the platform for creating original shorts.
Although it is not a stable source of income for creators, it has helped thousands of them to get their channels discovered and their other social networks promoted. YouTube has also taken over a page from TikTok’s book by adding filters, effects and even a “green screen” function.
(With contributions from The Wall Street Journal and The Verge)