In just a few years, YouTube has become one of the main sources of funding for content creators. The billions of dollars generated by the social network enable jobs, partnerships… And when this creative ecosystem brings in over $25 billion to the American economy, it makes the platform a must-have, well ahead of TikTok and Meta. .
In a new study, Oxford Economics looked at how YouTube’s creator support scheme works. After interviewing users, creators, and companies, we concluded that the live streaming site is an important driver of this new market. More profitable than TikTok and the Facebook ecosystem, YouTube offers more tools and potentially more income for these users. The main idea is to encourage great creators to use their app, not the competition!
Last December, more than 45,000 YouTube channels in the US had at least 100,000 subscribers, and more than 5,500 channels had at least 1 million. The positioning of the platform is very different from the positioning of Instagram and TikTok. For brands and creators alike, it is not only a matter of consuming content for a long time, but sharing, learning and sharing artistic, cultural, informative creations, from the most niche to global topics.
While YouTube Shorts are less commonly used, they pose a real threat to TikTok. Not in terms of functionality very close to the Chinese app, but because it’s an all-in-one for YouTube that combines the creator’s main channel and a short channel on the same platform where more instant content can be streamed. Somehow, YouTube is more versatile for content creators who want to monetize all their work more easily.
So, will the big names move from TikTok to YouTube anytime soon? Only the future will tell us. What is certain is that the platform remains the ideal tool for sharing and monetizing your passion. From an economic standpoint, the report also notes that SMEs are more interested in YouTube, and as a significant contributor to the US GDP, the social network is far more popular across the Atlantic than its Chinese counterpart.