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The story behind the story

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YouTube says the number of creators who no longer rely on ads for the majority of their earnings grew 40% between January and May

Bloomberg : Tweets: @lucas_shaw See also Mediagazer Tweets: Lucas Shaw / @lucas_shaw : YouTube built an empire on free video, but a growing numbers of creators are finding success charging their fans. https://www.bloomberg.com/... See also Mediagazer

Bloomberg

Context & Ripple Effects

The 40% jump between January and May is a direct echo of the pressure that built after the advertiser exodus left YouTube stars earning less from ads — the platform has since spent years building non-ad income streams, including the star contracts it signed to pay creators for features like paid chats while locking them into YouTube-first posting. The timing matters too: with ad budgets contracting in 2020, creator earnings that lean on fan payments rather than advertisers are structurally more resilient.

First-order effects

  • Creators who diversified now have majority non-ad income, insulating them from the ad-rate swings that followed the advertiser pullback.
  • YouTube gains a revenue mix less tied to advertiser cycles, reinforcing the subscription push behind Music and Premium's subscriber growth.

Second-order effects

  • Rival platforms face talent whose economics no longer depend on any single platform's ad pool, raising the cost of poaching them with ad-share deals alone.
  • Fan-funded formats like paid chats and channel memberships become negotiating chips in the exclusive-content contracts YouTube signs with its biggest stars.

Third-order effects

  • If direct fan payment keeps outgrowing advertising, YouTube's business model tilts from an ad network with creators to a two-sided marketplace where subscribers fund content — consistent with the platform's later $100B+ payout disclosures and TV-screen expansion.
  • Creator dependence shifts from advertisers to platforms themselves, deepening platform infrastructure dependency even as it reduces ad volatility.

The trend: Creator economies are shifting from advertising-dependent to direct fan funding, with platforms deliberately building the subscription rails that make the shift possible.

Discussion

  • @lucas_shaw Lucas Shaw on x
    YouTube built an empire on free video, but a growing numbers of creators are finding success charging their fans. https://www.bloomberg.com/...