YouTube launched what it calls its new ‘Creator Music’ hub at its inaugural Made On YouTube event in Los Angeles on Tuesday (September 20).
Creators can buy music licenses via the hub, which is currently in beta in the US and will expand to more countries in 2023.
Creator Music is described by YouTube as “a new destination that gives creators easy access to an ever-growing catalog of music for use in their videos, while providing artists and music rights holders with a new revenue stream for their music on YouTube”.
YouTube also says creators who choose to license music through the hub “will keep the same revenue share they’d usually make on videos without any music”.
Creators who don’t want to buy a license up front will be able to use songs and share revenue with the track’s artist and associated rights holders.
Also at the event, YouTube launched what it calls “a first-of-its-kind revenue sharing model” for its TikTok rival short-form video platform Shorts.
Beginning early 2023, YouTube says that it will be moving away from a fixed fund and “doubling down” on what it says is a “unique revenue sharing model” for the Shorts platform for both current and future YouTube Partner Program (YPP) creators.
YouTube says that every month, revenue from ads that run between videos in the Shorts Feed, will be added together and used to “reward Shorts creators and help cover costs of music licensing”.
According to YouTube, from the overall amount allocated to creators, they will keep 45% of the revenue, distributed based on their share of total Shorts views. YouTube says that the revenue share remains the same, no matter if they use music or not.
The platform also revealed at the event that it’s expanding its monetization system, the YouTube Partner Program (YPP), to allow more creators to join the program.
Starting in early 2023, Shorts-focused creators can apply to YPP by meeting a threshold of 1,000 subscribers and 10 million Shorts views over 90 days.
YouTube will also introduce a new level of YPP with lower requirements that will offer earlier access to Fan Funding features like Super Thanks, Super Chat, Super Stickers and Channel Memberships.
“When we introduced the YouTube Partner Program, we made a big bet: we succeed only when our creators succeed.”
Susan Wojcicki, YouTube
Susan Wojcicki, CEO of YouTube, said: “The YouTube Partner Program was revolutionary when we launched it back in 2007, and it’s still revolutionary today. Over the last three years, YouTube has paid creators, artists, and media companies more than $50 billion dollars.
“That $50 billion dollars has changed the lives of creators around the world and enabled new voices and stories to be told. But we’re not done yet. When we introduced the YouTube Partner Program, we made a big bet: we succeed only when our creators succeed.
“And today, we’re doubling down. We’re introducing the next chapter in how we reward creativity on our platform by expanding access to our YouTube Partner program.”
“This is a pivotal moment for both YouTube and the creative ecosystem.”
Pedro Pina, YouTube
Pedro Pina, YouTube’s VP of Europe, Middle East and Africa, said: “This is a pivotal moment for both YouTube and the creative ecosystem. In times of uncertainty, we’re bringing even more revenue opportunities to more creators and artists across more formats than ever – all of this helping turbocharge an already healthy video ecosystem in the UK”.
“This is the first time revenue sharing is being offered for short-form video on any platform at scale.”
Neal Mohan, YouTube
Neal Mohan, YouTube’s Chief Product Officer, said: “YouTube’s first-of-its-kind, industry-leading Partner Program changed the game for long-form video. And now we’re changing the game again, this time by opening it up to Short-form creators and introducing revenue sharing to Shorts.
“This is the first time revenue sharing is being offered for short-form video on any platform at scale, adding to the 10 ways creators can already earn revenue on YouTube. It’ll be available to all of those in YPP — including the new, mobile-first creators, who will be joining the program for the first time.”
“We’re building the bridge between artists and creators on YouTube to elevate the soundtrack of the creator economy.”
Lyor Cohen, YouTube
Lyor Cohen, YouTube’s Global Head of Music, said: “Creator Music is the future. We’re building the bridge between artists and creators on YouTube to elevate the soundtrack of the creator economy; it’s a win-win-win for artists, songwriters, creators and fans. With Creator Music, artists have a new way to get their music out into the world; fans can now discover music they love on their favorite creator’s channels, and both creators and artists will have new revenue opportunities.”
Music Business Worldwide