4. Comments Tab
YouTube is reimagining the Comments tab in the YouTube Studio app, turning it into a “Community” hub for deeper engagement.
Responding to comments can be overwhelming for creators, so YouTube is introducing AI-powered suggestions to help creators craft responses faster, along with tools like community spotlights and audience metrics.
Three New Ways To Support The Creator Economy
YouTube’s creative ecosystem contributed more than $35 billion to the U.S. GDP in 2022, which supported over 390,000 full-time equivalent jobs in the country, according to a report by Oxford Economics.
“Today, YouTube is the only platform that shares revenue with creators at scale, across multiple formats. Our YouTube Partner Program pays out more than any other creator monetization platform, and we’ve paid $70 billion to creators, artists, and media companies over the last three years,” notes Voolich.
YouTube has also unveiled three new features to reinforce their support for the Creator Economy:
1. Jewels And Gifts
YouTube launched digital items designed to boost real-time fan interaction and provide a new way for creators to earn.
Initially, this will roll out in the U.S. for vertical livestreams, making it simpler for viewers to engage, show excitement, and participate actively, enhancing the live experience.
2. YouTube Shopping Expansion
YouTube Shopping now has over 250,000 creators! The affiliate program is available in the U.S. and South Korea, and YouTube is expanding to Indonesia through a partnership with Shopee.
Soon, YouTube will bring the program to Thailand and Vietnam, allowing more creators to promote products and grow their businesses globally.
3. Access To Living Rooms
Creators are increasingly creating content specifically for the big screen, with TV revenue growing over 30% year over year.
To support this, YouTube introduced features like organizing content into seasons and episodes, making it easier for viewers to follow their favorite shows.
Additionally, YouTube enhances the TV experience with immersive content from creators’ channels, better subscription management, and easier access to links in descriptions.
The Biggest Splash For YouTube Since Brandcast
The annual YouTube event did not fail to deliver. By unveiling nine new features at Made on YouTube 2024, the platform made its biggest splash since Brandcast back in May.
What does this mean for YouTube?
Creators are central to YouTube’s success. They are the ones who bring their ideas, stories, and visions to the platform. And they are uploading more than 500 hours of content to YouTube every minute.
What does this mean for brands and their agencies?
Well, creators have turned YouTube into the second-most visited website in the world, after Google Search.
As of September 2024, YouTube had more than 2.5 billion monthly users, who collectively watch more than 1 billion hours of videos every day. And YouTube Shorts is now averaging over 70 billion daily views from billions of monthly logged-in users.
So, brands and their agencies can reach potential customers while they’re searching, browsing, or watching YouTube videos.
At Brandcast back in May, YouTube unveiled new ad offerings, touted creator influence, and shared strong viewership metrics. At Made on YouTube this week, it announced a lot of new products and updated features that aim to give creators the opportunity to build engaging communities, drive sustainable businesses, and express creativity on their platform.
And as any fan of the movie Ghostbusters (1984) can tell you, that makes this “the biggest interdimensional cross rip since the Tunguska Blast of 1909.”
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Featured Image: YouTube CEO Neal Mohan speaks onstage at Made on YouTube at Pier 57 on September 18, 2024 in New York City. (Photo by Dave Kotinsky/Getty Images for Made on YouTube 2024)