YouTube is studying the podcast community with envious eyes. The video platform has been offering so-called grants of up to $300,000 to podcasts to develop video versions of their shows.
In a story first reported by Bloomberg, the Alphabet company is said to be extending offers of $50,000 to individual shows and $200,000 and $300,000 to podcast networks.
YouTube has already become a major source of podcast discovery in the United States without any major expenditure on the format. It’s benefitted from its discovery algorithm that has been to the benefit of stars such as the controversial Joe Rogan.
Last October, long-time YouTube staffer Kai Chuk was appointed as podcast lead, while YouTube users in Canada now have the ability to keep YouTube in the background while using other apps, something previously restricted to its premium tier. Such a feature would be a boon to the podcast sector.
Rival Spotify has now pumped $1 billion into podcasts including securing the services of Rogan, and Prince Harry and Meghan Markle.
