Google-owned YouTube has paid more than $30 billion to creators, artists, and media companies in the last three years, according to CEO Susan Wojcicki.
In Wojcicki’s first letter to creators of 2021, the CEO spent some time addressing YouTube’s growth. The number of new channels that joined the company’s Partner Program, which allows creators to earn advertising revenue, more than doubled in 2020.
According to an Oxford Economics report, YouTube`s creative ecosystem contributed approximately $16 billion to the US GDP in 2019, supporting the equivalent of 345,000 full time jobs.
“The UK in 2019 saw approximately 1.4 billion pounds contributed to the British GDP and the equivalent of 30,000 full time jobs. And in France, there was an estimated 515 million euros contributed to the French GDP and the equivalent of 15,000 full time jobs,” Wojcicki said in a blog post on Tuesday.
YouTube executives have also faced mounting pressure to do a better job of moderating the site and preventing misinformation from spreading. YouTube is now shifting its focus to vaccination misinformation. “We’re always working to strike the right balance between openness and responsibility as we meet the guidelines set by governments around the world,” Wojcicki wrote.
YouTube also updated its policies to remove egregious medical misinformation about Covid-19 to prohibit things like saying the virus is a hoax or promoting medically unsubstantiated cures in place of seeking treatment.