At Vidcon, YouTube announced it would be adding new monetization options for creators to make money from their content. Most of the options are pretty similar to what other platforms have done before, but they could still solve issues YouTubers have been facing for some time now.
YouTube may be the go-to platform for watching videos online. Yet when it comes to real time interaction with viewers, platforms like Twitch and Mixer, are the most common choice. YouTube has been trying to get in on this action with Super Chat. And now, it’s announcing new features at VidCon that will let fans express their adoration and support. That is if they’re willing to pay for it. During the presentation at VidCon, YouTube announced that more than 90,000 channels use Super Chat, with some streams bringing in more than $400 per minute.
One new feature, and perhaps the most interesting, is a $4.99 Channel Membership that lets users pay for exclusive content on a channel. The content can be anything that the creator could offer.
Another feature is a merchandise shelf that lets Creators sell merch to their fans directly from their channel. As till now, Creators had to link to their merch in the description of their videos. Now they have a section on their channel where they can show off prices their products with pictures and prices.
YouTube’s new moves come after past efforts in the opposite direction, which made monetization harder and creators unhappy. For example, YouTube leveled up its requirements last January for monetization through advertising. Requiring channels to have at least 1,000 subscribers and 4,000 hours of watch time per year in order to be eligible to earn a cut of ads sold against their videos. This effectively demonetized hundreds of channels in one fell swoop, and raised the barrier to entry for channels seeking to generate revenue. On several occasions, abrupt demonetization through policy updates has provoked outspoken backlash among creators.
So, it was a good move by YouTube. As by offering creators additional monetization options, YouTube can improve its pitch to new creators and expand its creator community.