YouTube has had a bad year. One of its biggest stars, Logan Paul, filmed the body of a suicide victim. Advertisers boycotted over inappropriate content, and parents panicked over violent and sexual videos showing up in the site’s kids' channel. Competition is also growing. Facebook is building a system to connect influencers with brands. And Instagram launched new video tools on Wednesday. So on Thursday YouTube's chief product officer, Neal Mohan, announced new ways for YouTube creators to make money. Marketplace Tech host Molly Wood asked Mohan if this was a response to creators being unhappy with their options lately. The following is an edited transcript of their conversation.
Neal Mohan: You know what I would say is the vast majority of creators on our platform are looking to do the right thing for their audience, looking to grow. Lots of creators are having success with our core monetization offering, which is advertising. The number of creators earning five figures on our platform a year is up 35 percent year on year. The number of creators earning six figures on our platform is up 40 percent year on year. So our advertising business continues to pay dividends for our creators. This is really about giving them alternative ways to generate revenue in this new amazing economy that exists on YouTube.