YouTube Will Reward Top Partners With Additional Benefits
YouTube is leading the ad market of online video, which is successful only because of the content creators. The online video giant recognizes the value of content creators, and thus has been providing support to them in generating revenue. Now it looks to reward top content creators with more benefits, said YouTube content head Robert Kyncl.
“If you’re at the top of our partner pyramid, you’ll see yourself better taken care of,” said Kyncl at CODE/Media Conference in Southern California.
YouTube is being challenged by number of other services, and as the things stand, Facebook is on its way to become as big as YouTube in online video. Facebook, along with its billion users, is seeing rapid growth in videos. People are watching a lot of videos, to the extent that the company decided to acquire QuickFire — a company that optimizes online videos to provide seamless experience — to meet increasing video demands of its users.
So now YouTube should be concerned about its position and the company needs to keep its content creators on its platform. Hence the first step in doing so is to offer additional benefits to the creators.
However, Kyncl is not so worried about brand owners looking to generate revenue from other platforms. “Every time you create a brand, you want to leverage it across multiple platforms,” he said. He mentioned further that creators need to look at multiple platforms on the basis of audience that they offer.
Despite Facebook seeing huge growth in online video, YouTube is still in a position to reward its content creators because it is also growing at a high rate. According to Kyncl, the Google online video service has been growing 50 percent year-over-year for the last three years.
“We never felt alone,” Kyncl said. “Every time you own a space that’s worth it, you will have a lot of companies that will try to own a piece of it.”
Some partners have been complaining to YouTube over the last few years that it takes too large a share of ad revenue and provides too little value to creators. To address their concerns, the company launched Google Preferred, which aims to make it easier for advertisers to connect with top video publishers. Kyncl told that partners of this program are experiencing 70 percent growth rates.
Rewarding content creators is a great (and perhaps the only) way to keep them on the platform. It would also increase the competition between them as everyone would like to reach the top of pyramid to enjoy additional benefits.