In the podcast area, YouTube has been attempting to compete with Amazon, Apple, and Spotify. The video and music streaming company is now paying funding to podcasters for the creation of movies and filmed versions of their shows, according to Bloomberg.
YouTube will award $50,000 to individual video makers, while podcast networks would receive $200,000 to $300,000.
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Hundreds of podcasts are available on YouTube, but it has not taken episodic programming as seriously as Spotify, Apple Podcasts, or Amazon.
Kai Chuk has been appointed to manage the company’s podcast strategy, among other senior moves at the video hosting platform.
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Despite the fact that Amazon and Spotify have been signing large podcast deals left and right, YouTube’s new subsidies may serve as an incentive for creators to produce more podcasts.