In the podcast area, YouTube has been attempting to compete with Amazon, Apple, and Spotify. As it is seen that the video and music streaming company are now paying funding to podcasters for the creation of movies and filmed versions of their shows, according to Bloomberg.
Now keeping in view, the trends and demands YouTube is coming forward with an appealing incentive.
YouTube will award $50,000 to individual video makers, while podcast networks would receive $200,000 to $300,000. The reason of this is that hundreds of podcasts are available on YouTube, but it has not taken episodic programming as seriously as Spotify, Apple Podcasts, or Amazon.
Kai Chuk has been appointed to manage the company’s podcast strategy, among other senior moves at the video hosting platform. Despite the fact that Amazon and Spotify have been signing large podcast deals left and right, YouTube’s new subsidies may serve as an incentive for creators to produce more podcasts.
Because YouTube’s reward for podcast networks would be $200,000 to $300,000 it is an appealing reward to promote podcast on YouTube. Obviously, this incentive is to promote podcast on YouTube and compete with the competitors in this field, like Amazon, Apple, and Spotify.