According to the Financial Times on November 15, Tuesday, YouTube is adding shopping features to its short-form video service which is like TikTok, as it seeks to broaden its revenue stream, which has been decreased by falling ad spending.
“Viewers in the U.S., India, Brazil, Canada, and Australia can see the tags and interact with them and we’ll continue to bring tagging to more creators and geographies,” a Google spokesperson said.
Source: usnews.com
Ad sales on Alphabet-owned YouTube fell to US$7.07 billion in the third quarter, down from US$7.2 billion the previous year, as advertisers cut back on ad spending in the name of an economic downturn.
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According to the newspaper, the streaming platform is also trying out new commission strategies for influencers who sell stuff via links in videos.
Reuters’ request for comment was not immediately responded to by YouTube.
The report information came only months after YouTube introduced a brand-new way for creators to make a living on short-form videos, launching advertising on its video feature Shorts and offering video makers 45 per cent of the profits.
The internet’s most popular video site has had difficulty keeping up with TikTok, the app that began by organising lip-sync and dance video content and has since grown to 1 billion monthly users.
YouTube sincerely hope that the new shopping features will boost its earnings from digital advertising. The site is introducing new features that will allow users to purchase products directly from videos and learn more about the products they are watching.
This is in addition to the existing features, which allow users to add items to their shopping carts and keep them for later use. In addition, when users are watching videos on YouTube, a new “shopping shelf” will show up on the right side of their screen. This shelf will display similar products that users can purchase as well as product information.
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