YouTube has been trying to compete with the likes of Amazon, Apple, and Spotify in the podcast category. Bloomberg reports that the video and music streaming platform is now offering grants to podcasters for the production of videos, as well as filmed versions of their shows.
Individual video creators will receive $50,000 from YouTube, while podcast networks will receive around $200,000 or $300,000.
YouTube already features hundreds of podcasts but has not pursued episodic content as seriously as Spotify, Apple Podcast, or Amazon.
The video hosting platform has also made executive changes such as the appointment of Kai Chuk for leading the company’s podcast strategy.
Even though Amazon and Spotify have been getting major podcast deals left and right, the recent grants offered by YouTube could serve as incentives to creators to make more podcasts as well.
