YouTube offers to help podcast content creators in exchange for being part of its platform.
In recent years, YouTube has lost popularity to rival multimedia sites. Although it is still the most popular video platform, and they have a big presence in the music industry, it is well behind its competitors in terms of streaming and podcasts. They now want to make amends and make up for the lost time.
Recovering lost ground
According to a Bloomberg article, YouTube is trying to boost the creation of visual material on podcasts by paying up to $300,000 to podcasters who want to make the transition from audio to video. It’s not easy, let alone inexpensive, to get started in video production on an ongoing project.
That’s why the YouTube team is offering individual podcast episodes up to $50,000 and podcast networks up to $300,000. Producers could use the funds to make movie versions of their programs or other types of videos.
After Spotify purchased the rights to popular podcasts that were previously only available on YouTube, YouTube is attempting to retain podcast creators who rely on the platform to grow their content.
Perhaps in the not-too-distant future, we’ll see a section on YouTube’s website, as well as on mobile apps, where we can readily access podcast content.