Youtube, a Google-owned video-based company, has been used by billions of people for over a decade as its empire has been growing since the establishment of its brand in 2005. Over the last 14 years, YouTube has prided itself on the creation of an online media outlet that allows anyone across the globe to publish content. Any person who wants to try their hand at fame has the opportunity with no charge, or fees.
In recent news, YouTube recently launched a new feature offering a $4.99-a-month plan called “channel memberships” that allows users to purchase exclusive content from their favorite “YouTubers”, no matter their subscriber amount or channel focus. Included in this price, members receive content such as private live streams, additional videos and early releases to videos for the general public. “YouTubers” with a larger following have been said to release exclusive merchandise for sale as well. This is a brilliant idea as YouTube can create a variety of opportunities and enhancements for their loyal users. With this addition, YouTube has created an alternate opportunity which benefits both the company and creators monetarily outside of traditional advertising.
With over 1.3 billion users, YouTube continues to stay true to its fundamental concept of a free media outlet while simultaneously giving their company a positive edge with new features, which I can not help but appreciate. By offering “channel memberships,” the company has provided a great incentive system for influencers to continue their channels through the site and make money while they are doing it.
YouTube has said to return 70 percent of the monthly subscription dues back to the creator that subscribers are paying to see, and keeping the other 30 percent for the company. Although the creators should be earning a more significant percentage of that money due to the fact that audiences are paying for original content created by the specific channel, being able to uphold and maintain such a large platform like YouTube also benefits significantly from the other 30 percent revenue coming in from the subscriptions for channel memberships.
This system was implemented in recent months as trends show a positive impact on the platform that has so far been made through this new feature, and I, for one, support it tremendously.