According to people familiar with the situation, YouTube is reaching out to podcasters and podcast networks, offering “grants” of up to $300,000 to entice them to create podcasts versions of their shows.
According to the people who asked not to be identified because the matter is private, the company is offering $50,000 to individual shows and $200,000 to $300,000 to podcasts networks.
The funds could be used to help producers create filmed versions of their episodes or other types of videos.
The move could result in more substantial programming for the Alphabet Inc.-owned streaming service, as well as an expansion of its overall podcast lineup. Without investing much money in the format, YouTube has grown into a powerful podcasting platform.
Thanks to the service’s discovery algorithm, major celebrities such as Joe Rogan and the H3 team have grown their fan bases. According to Edison Research, they have gone on to become some of the most popular podcasters in the United States.
The cost of constructing a studio, hiring editors, and developing a fully functional video publishing pipeline, on the other hand, may deter networks and shows from adopting the platform.
Simultaneously, YouTube has made a couple of moves that indicate a growing interest in the podcasts space. It appointed longtime executive Kai Chuk to lead its podcasting efforts last fall.
It has also stopped charging users in Canada for a previously premium-only feature, the ability to listen to music while doing other things on the device.
To read our blog on “For Android and iOS users YouTube has included “Listening Controls,”” click here.
