YouTube is offering grants up to $30,000 to produce videos that would include filmed versions of the show. Each creator might receive $15,000 individually, while podcast networks can receive $20,000 to $30,000.
Bloomberg reported, YouTube seems to be pursuing podcasts more aggressively and competing with competitors like Spotify. The company has also appointed executive Kai Chuk to led podcasting strategy. Spotify and Amazon have been creating more major podcast deals recently.
YouTube’s grants will provide good incentives for podcasters to make create more content as videos on the platform.
Earlier, YouTube added a new feature to Shorts, allowing users to change voiceover for videos within the app according. At the moment YouTube creators can only use the music and audio from YouTube’s library and use third-party video editors to add other audio tracks.