Google-owned video-sharing platform YouTube has reportedly
offered “grants” to podcasters to produce video versions of their shows.
YouTube has reportedly offered the ‘grants’ to compete with
its contemporaries like Amazon, Apple and Spotify, according to Bloomberg.
YouTube has reportedly offered individual podcasters up to $50,000, while
podcast networks could receive up to $200,000 or $300,000 to make video
versions of their shows.
Google has declined to comment on the issue. YouTube already
hosts some podcasts, but it has now started to pursue podcasts aggressively to
compete with Spotify and other (typically audio-focused) platforms.
YouTube has made changes such as appointing executive Kai
Chuk to lead the podcasting strategy. In Canada, YouTube also removed the
requirement of a premium membership to play audio in the background.
Spotify and Amazon have made more aggressive podcast deals
and Apple’s Podcasts app is also home to many popular podcast shows. The
reported provision of grants by Youtube is an effort to give incentives to
creators to make their shows available on YouTube.