YouTube is getting ready to launch its TikTok competitor YouTube Shorts - and it's shelling out a bundle of money for content creators.
The company is rolling out a $100 million fund that will pay YouTube Shorts creators for the "most viewed and most engaging content" over the next two years.
YouTube isn't the only company paying big money to go after TikTok - Snapchat is already paying out $1 million per day to the top creators on Spotlight, its own TikTok competitor. Facebook is also recruiting TikTok stars for its new Reels app.