YouTube is reportedly offering $30,000 grants to podcasters to produce filmed versions of their show. Individual show creators would receive $50,000, while podcast networks would receive $200,000 or $300,000. YouTube offers grants to podcasters to create more content as videos on the platform.
Read more: YouTube Adds New Creator Tools to Rival TikTok and Instagram
YouTube offers grants to podcasters to direct podcast-enthusiast traffic on its platform
YouTube seems to be pursuing podcasts as Spotify and Amazon strikes some major deals recently. YouTube offers grants to podcasters to convert their audio podcasts into video format. The development comes after the company hinted several times at its efforts to drive more podcaster traffic toward the streaming site. In Canada, YouTube has also stopped requiring paid Premium accounts to play audio in the background.
As per Bloomberg, the company has also appointed executive Kai Chuk to led podcasting strategy. Despite being a platform for video, Google-owned YouTube hosts a number of popular podcasts, including the H3 Podcast, Full Send Podcast, and the Logan Paul-led Impaulsive. According to Bloomberg’s sources; “Sources have revealed to them that YouTube is offering $50,000, $200,000, and $300,000 grants to podcast networks for what could be used to help them buy the equipment necessary to convert their content to a more visual format.”
Spotify embarks $3.5 million for audio expansion
Spotify’s chief financial officer Paul Vogel says the company now has $3.5bn of cash available on its balance sheet for the company’s audio expansion. He said; “We want to be the No. 1 global streaming audio player, and that means having everything as much as you could possibly think in audio.” The chief content and advertising business officer Dawn Ostroff said; “Our goal is to have thousands of creators on the platform now in video, and that will be significantly expanding next year in a meaningful way.”
Source: Verge
