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| YouTube turns to funding to attract podcasters |
Google-owned YouTube is testing a new strategy to get more podcasters and podcasters into its video platform so they can create video versions of shows.
According to Bloomberg, the platform is offering grants of up to $300,000 to podcast creators to persuade them to post video versions of their podcasts on YouTube.
The company bids $50,000 for individual shows and $200,000 and $300,000 for podcasts. According to a Bloomberg report, the money could help producers create video versions of their episodes or other types of videos.
This move could bring a more comprehensive program to the streaming service. Scaling up the podcast. The video platform has become a powerful streaming platform without investing a lot of money in the format.
This new funding for podcasts may also be the first step in a broader strategy to deal with Spotify's decision to dominate the podcast industry.
In recent months, Spotify has acquired several booming podcast companies and doubled down on their exclusive content.
The company reportedly spent $200 million on an exclusive deal with broadcaster Joe Rogan. Thanks to discovery algorithms, big stars like Rogan have been able to increase their audience.
They have become one of the most popular podcasts in America. But the cost of setting up a studio and hiring editors can prevent networks and shows from taking over YouTube.
YouTube offers financial support of up to $300,000
YouTube is an audio streaming platform with live streaming tools, detection algorithms, and monetization capabilities. However, it is clearly not the best app for listening to podcasts, especially on mobile.
If you are not a YouTube Premium subscriber, you will not be able to listen to videos while using other apps or when the screen is locked.
There are encouraging signs that the search giant is serious about making its video platform the best for content creators and listeners.
Last fall, the company appointed longtime CEO Kai-Cook to lead the podcast effort.
It also stopped charging Canadian users for a feature previously limited to the Premium plan, which is the ability to keep listening while doing other things on the device.