Alejandro Arrieche
YouTube is now allowing creators to incorporate music that is on YouTube Music into their short videos as the platform continues to develop features that can compete with those introduced by its rival TikTok.
In addition, users will also be able to save the tracks that they hear in a short video to listen to them later. The songs will be saved in a separate folder called “Sounds from Shorts”.
YouTube Shorts were officially launched in September 2020 as a way to compete with the growing popularity of TikTok videos, which featured songs that people could dance to or that were suitable to the type of video they were posting.
According to a report from ByteDance, the parent company of TikTok, 100 out of the 175 songs that were trending within the social media platform made their way to the Billboard 100 chart.
YouTube Pays Out $6 Billion to Music Industry
The song industry has been benefitting lately from the introduction of music to short videos that may go viral on some occasions as they can bring back titles and popularize relatively unknown artists in a matter of days.
“We are deeply committed to supporting the next generation of mobile creators with Shorts, and are actively working on what monetization options will look like in the future”, the video sharing platform commented.
The head of YouTube Music recently stated that shorts generated 30 billion views per day for the platform from an average of 1.5 billion monthly logged-in users. In addition, the firm commented that the number of daily first-time creators more than doubled since Shorts were introduced.
Currently, YouTube Shorts are not monetized. However, the company is planning to create a program called YouTube Shorts Fund that will distribute $100 million to creators so they can continue to develop content in this format for the platform.
Meanwhile, YouTube recently stated that it has paid out $6 billion to the music industry from July 2021 to June 202. This amount exceeded the firm’s initial estimates of $4 billion for the period. Its ambitious plans include becoming the most important source of revenue for the industry by 2025.
The company plans to accomplish this by monetizing every single format within its platform including long and short videos, audio tracks, and YouTube Live.
ByteDance Plans to Launch Music Streaming Service in the US
ByteDance may also have similar plans for its platforms as media reports indicated a few months ago that the company had filed a trademark application in the United States for a service called “TikTok Music”.
The company reportedly launched a music streaming service already in China called Qishui Yinyue. Meanwhile, in March 2020, the parent company of TikTok launched a similar service called Resso for the Indian market.
Other social media platforms have been introducing short videos to their formats and have even prioritized them in their interfaces as is the case of Instagram. However, they have suffered some public backlash for their attempts to become another TikTok.
In fact, there were several signed petitions for “making Instagram Instagram again” as the platform’s users complained that they preferred to share photos rather than videos and were not comfortable with seeing so many short videos, also known as Reels, in their respective Feeds.
The social media platform owned by Meta Platforms (META) had to walk back on some of these changes and ultimately reduce the number of recommendations it displayed on users’ feeds while it also paused the testing of a full-screen mode.
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This article was written for Business 2 Community by Alejandro Arrieche.
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