Google to monetise YouTube Shorts soon

In the TikTok age, Google-owned YouTube Shorts is catching up quickly, and the firm has seen promising results in its early monetisation efforts on the short-video creation site.

According to Philipp Schindler, Senior Vice President and Chief Business Officer of Alphabet (Google's parent company), customers are increasing and consuming short-form videos across many platforms, including YouTube.

"We're continuing to see good user engagement on YouTube. Early results in Shorts' monetisation are also encouraging, and we're excited about the opportunities here," Schindler stated this on a conference call with analysts late Tuesday. "We're thrilled about the chance," he continued. Schindler stated this on a conference call with analysts late Tuesday. "We're thrilled about the chance," he continued.

YouTube Shorts currently has over 1.5 billion signed-in users per month and over 30 billion daily views. YouTube TV achieved 5 million subscribers, including teasers, between April and June.

"There's also a lot of potential for shopping on YouTube. Just last week, we announced a partnership with Shopify. It will help creators easily connect their stores to YouTube and enable shopping across their live streams and videos," Sundar Pichai, Alphabet and Google CEO, stated

In the company's June quarter, YouTube advertising revenue was $7.34 billion (Q2). According to Ruth Porat, Alphabet's Chief Financial Officer, the second-quarter slowdown in spend by certain advertisers on YouTube and Network "reflects anxiety about a range of issues that are difficult to disaggregate."