YouTube is getting ready to invest in podcasts, with the platform supposedly offering up to $300,000 for the podcast network to join YouTube and start creating video content.
Here’s everything you need to know.
YouTube may be ready to spend thousands of dollars on podcasters
As podcasts continue to grow in popularity, it’s no surprise that companies may be looking for ways to invest in them, and YouTube is thinking the same way. A Bloomberg report states that YouTube has begun funding podcasts and podcast networks to convert their episodes into video content.
Those who spoke to Bloomberg, who asked to remain anonymous, claim that YouTube provides $50,000 for individual podcasts and between $200,000 and $300,000 for podcast networks. These funds are said to be used to create filmed versions of his podcast episodes and other types of videos.
Preparing YouTube for Podcasts
This isn’t YouTube’s first foray into the podcast world. Back in 2021, the platform hired executive Kai Chuk to manage YouTube’s podcasting efforts. Similarly, YouTube now lets Canadian users listen to audio outside the app, which was a feature exclusive to YouTube Premium.
It is worth noting that YouTube has been home to several successful podcasts such as The Joe Rogan Experience, which Spotify bought later in 2020, and the H3 podcast. But this is the first time the company has invested money in podcasts.
Overall it seems like a smart decision from YouTube to try to grow their platform even further, if you can imagine. The video streaming platform has also joined gaming and music with YouTube Gaming and YouTube Music respectively. YouTube now even has something called YouTube Shorts to compete against TikTok.
It makes sense for YouTube to get into the podcast space by creating only visual episodes that people can enjoy without leaving the platform. And what better way to do it than by giving a significant financial incentive to creators both big and small.
YouTube podcasts may be closer than we thought
It looks like YouTube’s bet on podcasts is heavy, with the hopes of competing with other big platforms like Apple Podcasts and Spotify. We still have to wait and see what the company brings in the future.
In the meantime, since there will probably be many podcasts only available on YouTube Premium, this might be a good time to consider whether YouTube’s subscription service is really worth it to you.