YouTube has shared information regarding new features that are in the works for creators.
One of the biggest announcements is that YouTube is working on their own crowdfunding feature.
19 Indie Label Organizations Speak Out Against YouTube…
As of now, YouTube creators have to come up with their own innovative ways of raising funds, usually through other platforms. No specifics have been given, but this new feature will be hosted “directly on YouTube, allowing fans to fund the creators that they really love“.
YouTube is also launching a standalone mobile app for creators, one that would give access to management tools. This app will also provide statistics.
Crowdsourced captions and subtitles are also in the works.
YouTube also recently announced that artists who upload cover songs can share in the revenue generated from their videos.
When Nina Ulloa isn’t writing for DMN she’s usually reviewing music or at a show. Follow her on Twitter.
Whoa, this is huge!
… my ‘whoa’ was about the crowdfunding part.
But monetizing eligible cover videos is definitely awesome, too!
Imagine how this will inspire your fans to use your stuff — while you still get paid as well!
And the beautiful thing is that you can opt out!
Man, I can’t believe this is from the same company that keeps on screwing us 24/7 (Google Search, please look at YouTube! That’s how to do it!).
“Man, I can’t believe this is from the same company that keeps on screwing us 24/7
U2 manager Paul McGuinness branded Google “the greatest theft enabler on the internet” two days ago in a BBC interview.
According to Music Week, he also said that “established artists should hold-off from giving new releases to streaming platforms straight away, in order to encourage record sales.”
Interesting.
Didn’t hear anything about monetizing original music. Did I miss this? Or are covers more important than original music for monetization?
Crowdfunding is monetization, too.