According to reports, YouTube is providing individual shows $50,000 and podcast networks up to $300,000, to produce filmed episodes and other video-based content. It is also offering certain content creators sums of money to convert their audio podcasts into video formats to augment streaming on its platform.
YouTube is purportedly providing money to podcasters in order to encourage them to develop video versions of their shows. This comes after the business dropped hints on many occasions of its plans to encourage more podcaster traffic to the streaming service.
Despite being primarily a video site, YouTube also carries a number of notable podcasts, including the H3 Podcast, Full Send Podcast, and Logan Paul’s Impaulsive. It even reportedly aided the rise of the contentious Joe Rogan Experience, which Spotify acquired exclusive rights to in 2020.
People with knowledge on the matter have reportedly said that YouTube is giving podcast networks $50,000, $200,000, and $300,000 in “grants” to assist them to acquire the technology they need to transform their content to a more visual format. Podcasters can apply for “grants” from YouTube to make videos, including filmed versions of their shows.
The terms and conditions that come with these grants with regards to required or ongoing content output are not yet known. YouTube meanwhile enjoys a natural lock-in as a platform for video distribution.
Some podcasts are already available on YouTube, but it has not pursued episodic material as actively as Spotify and other (usually audio-focused) sites have. However, there have been signals of change, such as the appointment of executive Kai Chuk to head up the podcasting strategy. YouTube’s paid Premium accounts in Canada are no longer required to play audio in the background.
This strategy should come as no surprise. More large podcast partnerships have been signed by Amazon and Spotify, while Apple’s Podcasts app remains a critical home for many programs.
While YouTube’s subsidies will not guarantee any exclusives, they will encourage artists to make podcasts available on the site, as well as fans to explore YouTube.
Video podcasts are not new, but it would be interesting to watch how this content is presented in YouTube apps in the future.
