QUOTE OF THE DAY- “Technological innovation is indeed important to economic growth and the enhancement of human possibilities.” Leon Kass
YOUTUBE ANNOUNCES PAID SUBSCRIPTION & MERCHANDISE SALES SHELVES
YouTube Initiates Merchandise Sales Shelves and Paid Subscription Membership program.
WHAT ARE MERCHANDISE SALES SHELVES?
YouTube is inviting content creators to monetize their channel by letting them sell merchandise on the website. They can also introduce a monthly paid subscription, which will unlock more benefits to their fans. YouTubers with more than 10,000 channel subscribers can avail Merch sales. Again, YouTubers with over 100,000 channel subscribers can avail the paid memberships option.
With paid memberships, viewers are asked to pay a monthly fee of $4.99 to access things such as members-only post, custom emoji, unique badges and other personalized perks that content creators offer, for example, extra videos, shout-outs and exclusive live streams.
Also, YouTube has collaborated with Teespring, a merchandising company and is planning to provide over 20 merchandise products to YouTubers to merchandise them on their channel.
The success story of Joshua Slice is a great inspiration for other YouTubers. He made a profit of over $1million in 18 days by selling over 60,000 soft toys of his famous character Lucas, The Spider.
WHAT’S THE REASON BEHIND THIS STRATEGY?
Although YouTube will still be focusing on advertisements, it is introducing new ways for YouTubers to monetize their channel in the best way possible. YouTube, which is home to 1.9 billion monthly users, usually paid its content creators by sharing the revenue sourced from ads. But after advertisers started to shun YouTube due to reports about running their ads next to offensive content, the firm has severed its policies that allowed YouTubers to generate money. This particular phase was called as “Adpocalypse” by many YouTubers.
Hence, introducing new ways to make money is one of its attempt to alleviate the tension caused due to strictness in the policies.
The popular video platform is also starting a new format to post video content, which is called Premiers. Basically, the new method will let YouTubers post a functioning link that also includes a countdown clock that appears till the time video goes live. Hence, YouTubers and their fans can discuss about the video together, at the same time.
The present Chief Product Officer of YouTube, Mr. Neal Mohan, told at VidCon, “The number of creators earning fives figures a year is up by 35 percent and the number of creators earning six figures is up by 40 percent. As in previous years, the vast majority of the revenue is coming from our advertising partners. We’ll continue investing here, but we also want to think beyond ads.”.
So there’s that. Different monetization tools and new features like Premiers allow content creators to engage with their fans in better way. These services will be available soon worldwide.
FACEBOOK BATTLES AGAINST FAKE NEWS BY EXPANDING ITS FACT-CHECKING PROGRAM
Facebook fights against fake news. It embraces technology to solidify its fact-checking program.
WHAT IS IT ALL ABOUT?
Facebook has planned to expand and improve its fact-checking program and various practices to tackle the menace of fake news. It was found out that some misleading Russian trolls compromised Facebook and reached out to 150 million Americans. It was about the 2016 presidential election! Since the incident, Facebook has rolled up its sleeves against fake news and is trying to improve their fact-checking program with the help of human review and technology.
Facebook has taken help from third-party fact-checkers, who are certified through an unbiased International Fact-Checking Network. Fact checkers judge the accuracy of story and then let Facebook take further steps on false stories. Facebook lowers such stories in its News Feed and hence, reduces its distribution.
HOW IMPACTFUL IS THIS PROGRAM?
Facebook has currently executed this program in 14 different countries worldwide. Further, it plans to execute the program to many other countries by the end of 2018. Facebook claims to reduce the circulation of fake stories by 80%.
The company has also declared that it will use the fact-checking program to check videos and photos in four countries.
Facebook trolls and memes are nowadays a powerful medium to rally people around a cause on Internet. Unfortunately, majority of memes and trolls misrepresent facts as they use photos from different places, times and events.
Via fake images, people succeed to stoke fear, anger and hatred towards a group of people. Hence, fact-checking on social platforms like Facebook should be vital.
Facebook is taking aid of machine learning technology to find bogus stories and misleading images. Moreover, the firm will collaborate with fact-checking partners. They will share their ratings with Facebook via an open source framework, Schema.org. Facebook has intensified its efforts to detect and demote fake pages using machine learning to prevent the spread of financially-motivated hoaxes in different countries.
Consequently, an election research commission functioning with Facebook, which is measuring the effect of misleading information on social network, will introduce its website and its initial request for proposals in the weeks to come.
Facebook has already promised to further investigate on social media’s role in elections and democracy. It claims that the investigation will help the company stay accountable and progressive in the long run.