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YouTube paid $50 billion to creators, media outlets in 3 years, to pay them 45% Ad revenue

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Video streaming platform, YouTube, has revealed that it paid content creators, artists, and media companies over $50 billion over the last 3 years.

The Google-owned streaming service recently announced that it would introduce advertising on its video feature shorts and give video creators 45% of the revenue.

With 30 billion-plus daily views and 1.5 billion-plus monthly logged-in users, Youtube is introducing new ways for creators to earn revenue through Shorts, and re-imagining the music industry and creator dynamic by opening up ads monetization for those who feature music in their videos.  

YouTube’s Chief Product Officer, Neal Mohan, said: “YouTube’s first-of-its-kind, industry-leading Partner Program changed the game for long-form video. And now we’re changing the game again, this time by opening it up to Short-form creators and introducing revenue sharing to Shorts.

“This is the first-time revenue sharing is being offered for short-form video on any platform at scale, adding to the 10 ways creators can already earn revenue on YouTube. It’ll be available to all of those in YPP — including the new, mobile-first creators, who will be joining the program for the first time.”

Also speaking, Lyor Cohen, YouTube’s Global Head of Music, said: “Creator Music is the future. We’re building the bridge between artists and creators on YouTube to elevate the soundtrack of the creator economy; it’s a win-win-win for artists, songwriters, creators, and fans.

With Creator Music, artists have a new way to get their music out into the world; fans can now discover music they love on their favorite creator’s channels, and both creators and artists will have new revenue opportunities.

YouTube has 2.1 billion monthly active users based all around the world and the number shows no signs of slowing down, with the projected number of users increasing each year. In terms of daily active users, YouTube sees approximately 122 million users per day.

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ADB signs $15m transaction guarantee facility with Zimbabwe’s NMB Bank

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The African Development Bank (ADB) has signed a $15 million Trade Finance Transaction Guarantee Facility with Zimbabwe’s NMB Bank aimed at unlocking trade finance opportunities for small and medium-sized enterprises, as well as agri-business and trade distribution value chains in the country.

At the signing ceremony held at the NMB Bank Headquarters in Harare, ADB Country Manager for Zimbabwe, Moono Mupotola, signed on behalf of the Bank while NMB Bank Chief Executive Officer, Gerald Gore, signed on behalf of the bank.

Speaking shortly after the brief ceremony, Mupotola said the African Development Bank’s board had earlier approved the project in November 2023, with the facility offering up to 100% coverage to confirming banks, effectively mitigating non-payment risks linked to NMB Bank’s trade transactions on a per-transaction basis.

“It is tailored to support trade between Zimbabwe and other African countries and with overseas markets by significantly diminishing the risk for international financial institutions actively engaging in trade finance activities with Zimbabwean businesses,” Mupotola said.

“The African Development Bank is committed to supporting the development of the private sector in Zimbabwe. This is a significant step forward in supporting the growth and competitiveness of Zimbabwean businesses.

“By mitigating risk and facilitating access to trade finance, we are empowering SMEs and local corporates to participate more actively in regional and international trade,” she said.

Also speaking, Gore emphasized the agreement’s importance for Zimbabwe’s economic development.

“This facility will be instrumental in enabling NMB to provide crucial trade finance support to a wider range of Zimbabwean businesses. This will not only unlock new trade opportunities but also contribute to job creation and economic growth.

“SMEs often face challenges in accessing trade finance compared to their larger counterparts. This initiative directly addresses this gap, fostering a more vibrant and inclusive business environment in Zimbabwe,” Gore said.

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Ghana’s communications regulator predicts subsea cable repairs could take five weeks

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According to Ghana’s communications regulator, it will likely take at least five weeks to fully restore service relying on the damaged subsea cables causing internet outages throughout West and Central Africa.

Many businesses that are connected to the internet and telecommunications, such as banks, phone companies, money transfer services, and stock exchange markets, have been severely disrupted as a result of the cable break.

Equinix, a data centre operator, reported on Friday that a “external incident” caused a cut to its cable system in the Atlantic Ocean, off the coast of West Africa, near Cote D’Ivoire. It excluded human activity as the reason.

 

The four subsea cable landing service providers—Africa Coast to Europe (ACE), MainOne, which is owned by data centre operator Equinix (EQIX.O), opens new tab, South Atlantic 3 (SAT-3) and the West Africa Cable System (WACS)—as well as mobile network operators were present at the meeting, according to Ghana’s National Communications Authority.

“The cable landing service providers have indicated an estimated time frame of a minimum of five weeks for full service restoration from the time the vessels are dispatched to the various locations,” the regulator said.

It stated that the service providers had determined the general location of the damage and were getting ready to send out repair ships.

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