YouTube puts $100 million into creator fund to rival TikTok

YouTube said it’s starting a $100 million fund for creators of video Shorts, the company’s feature that rivals TikTok. In a departure for the online video giant, creators will be paid based on viewership and engagement rather than advertising revenue.

In addition, YouTube is opening the fund to any video maker on its site who follows its guidelines, not just those eligible for the advertising program, the company said Tuesday in a blog post.

The fund for Shorts creators is the latest entry in a social media bidding war for online personalities spurred by the success of Bytedance Ltd.’s TikTok. Snap Inc. launched a new fund last fall for top performers of its video product.