YouTube expands shopping features

YouTube expands shopping features

YouTube is bringing shopping features to its TikTok-like short-form video service as it seeks to diversify its revenue stream that has been squeezed by falling ad spending, the FinancialTimes reported.

Ad sales on Alphabet-owned YouTube fell to $7.07 billion in the third quarter from $7.2 billion a year earlier, as some advertisers cut ad spending amid an economic slowdown.

The streaming service is also testing new commission schemes for influencers who sell products through video links, the paper reported.

The report comes months after YouTube unveiled a new way for creators to upload short videos, inserting ads into its Shorts video feature and giving video creators 45% of revenue.

The dominant online video site continues to compete with TikTok, an app that started by hosting lip-syncing and dancing videos and later grew to a billion monthly users.