With up to $300,000 in grants, YouTube is enticing podcasters with promises of cash.
Thanks to Apple, Spotify, and Amazon’s battle for talent, Podcasts are exploding. Google wants a piece of the action. Joe Rogan has taken the podcast format to new heights. He proved that podcasts might be profitable. Serial was the first podcast to become mainstream, with over 100 million downloads.
YouTube’s parent firm Google is willing to pay podcasters up to $300,000 to produce video episodes of their shows, demonstrating its desire to compete with Apple and Spotify.
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Non-commercial podcasters may apply for a maximum of $50,000 in funding to cover production and distribution costs. The total sum is broken down as follows: individuals who add video components to their shows can pocket up to $50,000 in grant money. Podcast networks that create podcast programs can get $300,000 for video versions of existing and new shows.
In addition, YouTube eliminates the requirement that a YouTube Premium account be subscribed to incorporate background music in video productions.
The shift toward paying podcasters in cash incentives is motivated by Amazon’s entrance into podcast production, as well as Spotify’s recent deals with big-name personalities like Joe Rogan.
The grants, according to Bloomberg, are non-exclusive, allowing podcasters to add their programs to YouTube alongside other podcast aggregators.
Google is banking on YouTube’s massive market share and relying that audiences will choose to watch video podcasts on the site rather than others.
This makes sense when you consider that YouTube is Google’s number-two search engine. The dominance of streaming video on YouTube extends well beyond any concerns over the necessity of a unique agreement since, as they say, audiences tend to go to YouTube first.
While giving cash scholarships is not always a daring move, it is a clever one that will most likely achieve the same result.
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