As YouTube enters a new year, its new lead Neal Mohan has charted a bold course for the company. YouTube is putting creators and artists at the forefront of its strategy and is doubling down on expanding its revenue streams.
Here are YouTube’s exciting plans to enhance creators’ earnings via subscriptions, shopping, and digital goods, alongside their foray into artificial intelligence (AI) to enhance storytelling and production value.
Expanding Creators’ Earnings
YouTube’s mission is to help creators make a living from their content, and the company is ramping up its efforts to achieve this objective. YouTube is bolstering its subscription business, increasing its investment in shopping, and improving its paid digital goods offerings.
These initiatives have already paid dividends, with over six million viewers paying for channel memberships in December 2022, a 20% increase from the previous year.
Listening to Creators’ Feedback
YouTube understands that creators are at the heart of its platform, and their feedback is critical to the company’s success.
In response, Neal Mohan is meeting with more creators to better understand their needs and pain points. YouTube is making significant strides in accessibility, including automatic captions in more languages, and is striving to make its platform more inclusive.
Building for the Future
To remain at the forefront of the digital video industry, YouTube is investing in new features and experiences. The company is expanding its focus on streaming and connected TV, exploring new creative possibilities, and increasing opportunities for creators across various formats.
YouTube is catering to the rising popularity of TV by enhancing its mobile experience, Shorts, to be more TV-friendly. Creators are leveraging Shorts, with over 50 billion daily views, and a substantial 80% increase in channels uploading to Shorts in the past year. Furthermore, YouTube is introducing new tools in YouTube Studio, enabling podcasters to upload their shows to the platform via RSS integration.
Unleashing the Potential of AI
YouTube is constantly exploring new technologies to enhance its creators’ storytelling and production value. The company is developing AI-based tools to enable creators to push the boundaries of their content across Shorts, live videos, podcasts, and more. YouTube is also focusing on responsible AI use, rolling out tools for creators and safeguards to ensure accountable technology deployment.
In short, YouTube’s strategy for 2023 is focused on supporting creators and artists by expanding their earning potential, increasing accessibility, and exploring new creative possibilities.
Additionally, YouTube is investing in streaming, connected TV, and artificial intelligence to remain at the forefront of the digital video industry.
