Google-owned YouTube is testing a new strategy to attract more podcasters and podcasters to its video platform in order to get them to create video versions of their shows.
According to a report by Bloomberg, the platform has begun offering grants of up to $300,000 to podcasters in order to persuade them to release a video version of their podcast on YouTube.
The company offers bids of $50,000 for individual shows, $200,000 and $300,000 for podcast networks. The Bloomberg report says the money could help producers create video versions of their episodes or create other types of videos.
- The move could bring more substantial programming to the streaming service. and expands its podcast assortment. The video platform has become a powerful streaming platform without devoting much money to this format.
- These new grants to podcasters may also be the first step toward a more complete strategy to counter Spotify’s moves to dominate the podcast business.
- In recent months, Spotify has acquired several emerging podcast companies and doubled down on exclusive content.
- The company reportedly spent $200 million on an exclusive deal with broadcast maker Joe Rogan. Big stars, like Rogan, have succeeded in increasing their followers thanks to the discovery algorithm.
They subsequently became one of the most popular podcasters in the United States. However, the cost of setting up a studio and hiring editors can deter networks and shows from adopting YouTube.
YouTube provides financial grants of up to 300,000 dollars
- YouTube is a popular platform for podcasters thanks to its live tools, discovery algorithms, and monetization features. However, it is clearly not the best app for listening to podcasts, especially on mobile.
- And if you don’t have a YouTube Premium subscription, you won’t be able to listen to videos while using other apps or when the screen is locked.
- There are some encouraging signs that the search giant is serious about making its video platform the best platform for content creators and listeners.
Last fall, the company hired long-time CEO Kai-chok to lead the podcast effort.
It has also stopped charging users in Canada for a feature previously limited to the Premium plan, which is the ability to continue listening while doing other things on the device.