YouTube Adds More Shopping Features To Diversify Revenue Stream
- Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) YouTube is bringing shopping features to its ByteDance Ltd-owned TikTok-like short-form video service to diversify its revenue stream squeezed by falling ad spending, Reuters reports.
- Ad sales on YouTube slipped to $7.07 billion in the third quarter from $7.2 billion a year earlier, as some advertisers pulled back on their ad spending amid the economic slowdown.
- YouTube tested new commission schemes for influencers who sell products through links in videos.
- Also Read: TikTok Flourishes As Ads Juggernaut At Expense Of Twitter, Snap, Google And Meta
- YouTube showcased a new way for creators to make money on short-form videos, introducing advertising on its video feature Shorts and giving video creators 45% of the revenue.
- YouTube struggled to compete with TikTok, the app that started hosting lip-sync and dance videos and has subsequently burgeoned to 1 billion monthly users.
- YouTube launched an online marketplace for streaming services with more than 30 offerings.
- Primetime Channels will allow viewers in the U.S. to subscribe to individual streaming services, including Showtime, Paramount+, and Starz, directly through YouTube.
- The National Basketball Association has also agreed to add its NBA League Pass package of games to the platform at a later date.
- Price Action: GOOG shares traded higher by 2.46% at $98.39 on the last check Tuesday.
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