Fan Fund is the new business on YouTube

You have seen it many times on different web sites; Donate. Donate. Donate. I don`t like that word. It sounds like a charity situation. Google is a great company and they are the owner of YouTube. So far YouTube has been a site you can use for free.

YouTube-logo-full_color

YouTube will still be free for the customers, but now it`s going to be business. After last months VidCon, YouTube released their new idea called Fan Fund, wich is open only for a few to test out the new program.

People around the world will start to earn money on their (sometimes) crazy and wild videos. People who watch the videos can transfer money to the YouTuber they like, because they want them to earn money and keep on doing what they are doing.

It will be shown a small icon in the top left corner of the creators video. You can hover over the icon, and the banner will pop up, asking you to support the content creator of the video. YouTube will take a small donation and in the U.S this amounts to 21 cents plus 5 percent of the total amount.

You have probably paid some books online from your favorite author, or a song from your favorite band and you might thing that this is actually the same thing. But it`s not. This is voluntary. The owners of YouTube have to opt-in to the program.

It is by invitation only right now. The owners of YouTube doesn`t want different people to build channels for the sole purpose of raising money. They wouldn`t make money but it will dilute the effect if every channel has a «support me» button. The opposite is happening right now.

TYTFanFund

Let`s say you pay $10 for a video you were looking at. The one you are a fan of will make $9,29, and the rest ($0,71) are fee, so YouTube gets a small percentage of the Fan Funding Payment amount. Oh, by the way; you can`t transfer by PayPal. You must transfer by Google Wallet. Of course.

And this is only for U.S, Mexico, Australia and Japan right now. Remember; you can`t ask for charity or political donations and you can`t ask people to fund a specific project. Now, you can start to fund strangers so they can live their dreams.

Some people will probably stop working and work with the new videos fulltime and this will help a lot of vidders out there. This will take off in a very short period of time. I think it will be open for other people at the end of this year.

 

Reports today;
08:15 a.m USD ADP Non-farm employment change
08:30 a.m EUR ECB Press Conference
08:30 a.m USD Trade balance
08:30 a.m USD Unemployment Claims
08:30 a.m USD Revised Nonfarm Productivity
10:00 a.m USD ISM Non-manufacturing PMI
11:00 a.m USD Crude Oil Inventories
12:30 p.m USD FOMC Member Mester speaks
07:00 p.m USD FOMC Member Powell speaks
08:15 p.m USD FOMC Member Fisher speaks
09:00 p.m USD FOMC Member Kocherlakota speaks

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