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Chronicles

The story behind the story

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YouTube says it will begin testing ads on Shorts, including app-install ads and other promotions, as its ad revenue growth slows

YouTube is testing advertisements on Shorts, its short-form video feature that competes with TikTok and Instagram, Google's chief business officer told investors on Tuesday.

Bloomberg Mark Bergen

Context & Ripple Effects

Shorts began as a defensive clone: YouTube's India test run was already pulling 3.5B daily views in early 2021 before the feature expanded to the US and other markets. What it lacked was a business model — the feed ran ad-free while YouTube's core ad growth slowed.

This announcement is the monetization switch being flipped: Google's chief business officer told investors that app-install ads and other promotions will be tested in Shorts, with a global rollout of Shorts ads following within a month. A later leak detailed the creator side — a 45% revenue share on Shorts ads versus 55% on standard YouTube ads, alongside lower partner-program entry barriers.

First-order effects

  • Advertisers gain a new short-form inventory surface inside YouTube, directly aimed at TikTok and Instagram Reels budgets; creators in the partner program face a lower payout rate on Shorts views than on long-form ads.

Second-order effects

  • TikTok and Instagram are pushed to accelerate their own creator-fund and commerce mechanics to defend share, while YouTube layers shopping onto the same feed — in-feed product purchases arrived by November 2022 — turning Shorts into a combined ads-plus-commerce channel during a weak ad market.

Third-order effects

  • If the 45/55 two-tier split holds as the template, short-form video becomes structurally a lower-margin format for platforms and creators alike, pushing creator income toward commerce, tipping, and fan tools rather than ad revenue alone.

The trend: Short-form video is completing its pivot from growth-at-all-costs engagement play to a monetized, commerce-woven ad channel, with platform-set revenue splits determining where creator economics land.

Discussion

  • @mhbergen Mark Bergen on x
    YouTube's ad intake only went up 14.4% this past quarter, over $500 million shy of analyst expectations. Could be Apple's ad crackdown, TikTok competition or _____
  • @mhbergen Mark Bergen on x
    Alphabet Incorporated directly employs 163,906 people.
  • @mhbergen Mark Bergen on x
    All those problems Facebook had getting hamstrung by Apple and terrified of TikTok? YouTube had them too. Only YouTube kvetch about it. But now the numbers starting to show. Here's our overnight earnings analysis. https://www.bloomberg.com/...
  • @thestalwart Joe Weisenthal on x
    YouTube is really slowing down https://www.bloomberg.com/... via @mhbergen https://twitter.com/...