YouTube will now pay its users for uploading videos on the site. Yes, the User Generated Content based website has rolled out a monetization policy for its users. This will be done by the user registering as YouTube’s partner and monetizing his content by putting any advertisement along with the video.
Shenaz Zack, Product Manager, YouTube says “We will allow users to earn revenue by allowing relevant advertisements to be displayed with their videos. Backed with YouTube’s analytics and content management tools, Indian users can target a particular demographic, monetize the views his content gets in any country and even protect his content from content pirates.”
YouTube has come a long way and now it gets more than 24 hours of video uploads and more than 2 billion hits everyday. Big companies like Yashraj films, Sony, Eros Entertainment, Rajshri films, Colors, Aaj Tak and many more have been earning through their videos on the site. In this way YouTube has more than 1000 global partners.
The content ID system on YouTube works in this way- the video is sourced by the provider as he gives the reference files of the videos to the website which after verification uploads it on the net. Everyday YouTube scans more than 100 videos and more than 33% of its monetized views come from claimed videos. The JK Wedding Entrance Dance that used the song ‘Forever’ by Chris Brown (Sony) got more than 59 million views and so Sony decided to monetize it rather than taking it off.
This scheme will come to India in some time as the Mumbai and Delhi offices of YouTube have started hiring people for this. A study by eMarketer says that in US the online advertising expense will increase to $25.8 bn. (rise of 13.9%) and the newspaper ad budget will go down to $22 bn.
It’s a real revenue gainer for YouTube as it not only gives incentive to users to upload more videos but also increases the user base and fan following that YouTube enjoys.