We've Got Hollywood Covered
|

YouTube Shelled Out $30 Billion to Creators Over Last 3 Years

The video giant is making a lot of money… and spending a lot, too

YouTube on Monday said it has shelled out $30 billion to creators over the last three years — a revelation that comes as the Alphabet-owned video giant has seen its sales surge during the pandemic. YouTube’s $30 billion stat also comes as other major tech companies — including Facebook, Snapchat and TikTok — have been spending big bucks to win over creators.

The $30 billion from YouTube went to more than 2 million creators, the company said on Monday. That money has come from ads, which YouTube is best known for, as well as merchandising and other features it offers.

YouTube has been paying creators since 2007 — a couple years after the site first launched — and takes about 45% of video ad sales, according to Bloomberg. Neal Mohan, YouTube’s chief product officer, told Bloomberg on Monday he doesn’t see that changing anytime soon.

Last month, YouTube reported its Q2 revenue jumped 84% year-over-year to $7 billion. That’s neck-and-neck with Netflix’s quarterly sales, and as TheWrap previously reported, both companies are expected to bring in about $30 billion this year.

YouTube’s Monday announcement likely wasn’t just a pat on the back; it could also be looked at as a signal its still the best place for video creators to make some dough. The company is facing increased competition for creators, though, with Facebook recently saying it will pay $1 billion to creators by the end of 2022. Snapchat was also paying users $1 million per day for content between last winter and June, and TikTok has also experimented with giving out millions of bucks to creators.