Twitter is now lending video makers on the platform a hand to help them earn money and perhaps to go against the likes of YouTube and Facebook.
The social media company knows that there's a massive audience to be had in the film business, and to push the venture into the territory, it's rolling out a new monetization program.
"Today, we're excited to announce the expansion of our creator revenue programs, which will provide creators of all sizes with the ability to monetize content in multiple ways and generate revenue at scale," Guy Snir, director of product management at Twitter, says.
Called the Publisher Amplify Program, it gives users a convenient way to instantly monetize their videos. All they have to do is tick a box before posting a tweet to get pre-roll ads to run on them. Those who participate will then get a cut of the revenue pie, but apparently, only approved creators in the United States can join in.
We're expanding our revenue programs to empower creators to earn money in multiple ways! https://t.co/ebnJxNaZqA pic.twitter.com/OGlI9tbeMa
— Twitter Video (@video) August 30, 2016
Of course, this particular Twitter program isn't unheard of, as it has been available to select media partners, including Vox Media and BuzzFeed, to name a few. In other words, the company is just letting the stars on the platform in on the deal.
Regarding the split in revenue, Recode reports that a "person familiar with the arrangement" says that Twitter is going to give users 70 percent of the total and keep 30 percent for itself. In contrast, YouTube provides 55 percent to users and 45 percent goes back to it.
Considering that the social media brand is late to the online film scene, that shouldn't come as much of a surprise, as it needs to make the platform appealing to a lot of people if it wants to succeed. Unlike Facebook or YouTube, it has yet to establish itself in the market as a viable place for video content makers.
To boil things down, Twitter is stepping into the competition with a tempting revenue split in a bid to go head-to-head or at least keep up pace with powerhouses such as YouTube and Facebook, which has been gradually upping its game for the past few months.
What do you think of the company's latest move? Feel free to drop by our comments section below and let us know.
