THE BIG CHANGE FOR CONTENT CREATOR IN 2020
Quarantine locked down is not the only thing impacting content creator this year. If you are reading this is too late!
A big change came into effect this week, YouTube announced a new update on how to channels are being monetization from Nov 18, 2020, in the USA and in Januray 2021 for a creator outside the USA.
Not long ago millions of small Youtube creator were impacted when they change its requirement to stay within the partnership program: 40000 hours per year and 1000k subscribers. Today, Youtube coming again with new policy changes and monetization that's going to impact everyone both partnership holder and non-partners creators.
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HERE ARE THE 3 MAJOR THINGS
WILL BE IMPACTING CONTENT CREATORS WITH NEW YOUTUBE MONETIZATION CHANGES IN 2020
#1 YouTube’s right to monetize.
Yes, you read that right. Youtube is going to monetize ads on all accounts whether you have a partnership or not. What does that mean? Everyone will be seeing ads on their video placed on behalf of youtube. Only those with the partnership program will get a slice of the revenue.
# Uncle Sam wants his Tax:
Effective Nov 18, 2020, Youtube will be collecting royalty payments and tax withholding.
This policy will be effective as of Nov 18, 2020, in the USA, and people outside the USA in 2021.
IMPACT ON YOUTUBE PARTNERS:
For content creators living outside of America, Youtube will be asked them to provide American tax information in AdSense in early 2021. These process will then used to determine whether withholding taxes will apply to their payments. READ the previous post
Comment below what do you think of this new monetize update? Plus, how these going to impact you as a content creator?
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