YouTube to Pay Millions to Keep Top Creators in the Fold
YouTube has extended multi-million dollar exclusivity offers to top digital creators to prevent them from distributing content on Netflix. The move comes as Netflix expands into creator content and video podcasts.
A Battle for Creators' Hearts
The rivalry between YouTube and Netflix is heating up, with the video-sharing giant reportedly offering selected creators multi-million-dollar exclusivity deals. According to a report by Bloomberg, YouTube has started offering creators "financial incentives to refrain from working with Netflix" as the streaming platform continues to chase some of the internet's biggest stars. One person familiar with the discussions told Business Insider that YouTube made a verbal offer worth "in the millions" to one creator in exchange for posting exclusively on the platform for a certain period.
A Shift in the Creator Economy
YouTube's pitch isn't only about writing big cheques. The company has also hinted that creators who reject the exclusivity offers could lose access to certain perks, including "marketing support and access to brand deals." This is a big shift in the creator economy, where YouTube has traditionally been the number one destination for video creators.
A Growing Streaming Battle
The competition between YouTube and Netflix is becoming more intense as creators become some of the most valuable entertainers on the internet. With millions of loyal followers, many creators now attract audiences that rival traditional TV programmes, making them highly valuable to streaming platforms looking to grow subscriptions. If more exclusive deals happen, fans may eventually have to choose where they watch their favourite creators instead of finding the same videos across multiple platforms.
Source: Pulse.ng
