YouTube announced on Thursday its spending some serious cash on its content creators, the so-called Top stars in an effort to keep YouTube users active on the site.
The push comes as Facebook Inc. had been looking to poach popular YouTube stars to post their videos on its site instead of Google’s platform.
Other tech companies have made significant investments for their share of online video, including Yahoo Inc. Yahoo had tried to hire YouTube talent earlier this year by offering a bigger share of advertising revenue.
Alex Carloss, head of original content at YouTube said that they feel it is the right time to spend some serious cash on their creators. That’s why they’ve decided to fund new content from some of their popular creators, helping them not only fulfill their creative ambitions but also deliver fresh content to their YouTube users.
Creating compelling new content requires lot of hard work and dedication. Google will help its content creators in the production process and promote their content too.
The company offers production support in the form of ‘YouTube Spaces’ in Los Angeles, London and Tokyo. These studios deliver video publishers free access to equipment sets and support needed to create some fantastic new content on YouTube.
In one instance of YouTube’s new initiative, the company is spending “single-digit millions” on a new 10-part video series.
YouTube currently receives 1 billion visitors per month. In addition, the daily time spent on it by YouTube fans is reportedly increasing by 50 percent each year.