Digital advertising revenue growth slows, YouTube short video platform Shorts will add shopping function

CTOnews.com, Nov. 15 (Xinhua)-- YouTube, owned by Google, is stepping up its push into e-commerce and introducing shopping features on Shorts, a short video platform, aimed at diversifying revenue sources at a time when digital advertising growth is slowing, the Financial Times reported.

YouTube, one of Google's pillar businesses, generated more than $28 billion (187.6 billion yuan) in advertising revenue last year. In the third quarter of this year, YouTube's advertising revenue was $7.071 billion (49.992 billion yuan), compared with $7.205 billion (50.939 billion yuan) a year earlier.

CTOnews.com learned that YouTube Shorts, a short video platform launched by YouTube, was launched in 2020 to compete with TikTok.

The addition of the shopping function also means that users can buy products while browsing videos. In addition, YouTube is testing a new commission scheme for "online celebrities" who sell products through video links. The company is trying to retain its creators to cope with fierce competition from competitors.