YouTube has been steadily improving Shorts monetization, and the numbers are starting to move. Shorts now account for an estimated 22% of total YouTube ad revenue, up from 15% in 2024. For CRT holders, the question is straightforward: does Shorts revenue meaningfully contribute to Creator earnings, or is it still a rounding error?
The Current State
YouTube shares 45% of Shorts ad revenue with Creators, compared to 55% for long-form content. Shorts RPM — what Creators actually earn per thousand views — has been climbing but remains significantly lower than long-form RPM. Industry data suggests Shorts RPM typically ranges from $0.02 to $0.07 per thousand views, compared to $2–$10+ RPM for standard videos.
That's a 100x gap in some cases. On a per-view basis, Shorts are worth a fraction of long-form content.
Why It Still Matters
The volume math is different for Shorts. A Creator who generates 1 million long-form views per month might generate 10–50 million Shorts views in the same period. At $0.05 RPM, 50 million Shorts views produce $2,500 — not transformative, but not nothing. For Creators who use Shorts as a discovery funnel that drives subscribers to their long-form content, the indirect value may exceed the direct revenue.
YouTube has signaled continued investment in Shorts monetization, including testing new ad formats specifically designed for short-form content. If Shorts RPM increases to $0.10–$0.20 — still a fraction of long-form rates — the revenue contribution becomes more meaningful, especially for Creators with large Shorts audiences.
What This Means for CRT Distributions
CRT distributions are based on total YouTube revenue, which includes Shorts earnings. As Shorts monetization improves, it adds an incremental revenue layer on top of the long-form content that drives the majority of Creator income. For Creators who have invested heavily in Shorts production, this is a growing — though still minor — component of their distribution pool.
The takeaway: Shorts monetization is trending in the right direction, but long-form content remains the overwhelming driver of YouTube Creator revenue and CRT distributions. That dynamic may shift over time as YouTube's Shorts ad product matures.
This content is for educational purposes only and does not constitute investment advice.