Tutorials and how-to videos, as well as live streams and influencer vlogs, were the most popular video content types worldwide in the third quarter of 2023. Short-form videos have acquired particular importance among content creators, proving to be one of the most suitable to attract users. TikTok was the most popular platform for U.S. users to watch short-form video content, but YouTube Shorts and Instagram Reels reported a market share of around 20 percent in April 2023.
YouTube made the video star, TikTok followed
With a total YouTube advertising payout of nine billion U.S. dollars in 2022, the platform is proof that video sharing can morph into a recognized professional opportunity for many. As well as sharing part of its advertising revenues with creators, YouTube monetization features include ways for users to support their favorite creators directly, like channel membership, super chat, and buying merchandise.Over eight in 10 creators who earned money from YouTube in the United States agreed that YouTube provides an opportunity to create content and earn money that they wouldn't get from traditional media. A number of small businesses with a YouTube presence in Canada reported finding creative and professional opportunities on the platform: seven in 10 reported YouTube helped them grow their customer base by reaching new audiences.
TikTok popularized the shot-form video trend, launching a suite of editing and parallel video-sharing platforms to widen the appeal of its products to creators. As of September 2023, the estimated annual earnings of TikTok stars as Charli D’Amelio, Khaby Lame, and Zach King range between 13 and 23 million U.S. dollars. While far from making millions, mid- and low impact creators also managed to leave their mark in the global economy. In 2023, the number of jobs supported and gross domestic product (GDP) contribution from TikTok creators, exceeded 51 thousand jobs and generated almost five billion euros across five of the major markets in the European Union.
