Spencer Soper, writing for Bloomberg (edited and condensed): Amazon will let people post videos to its website and earn money from advertising, royalties and other sources, putting the company in more-direct competition with Google’s YouTube. Amazon already offers movies and television programs over the Internet — including its own original productions — to compete with Netflix. The new product dubbed Video Direct will let Amazon give consumers more options about what to watch without an upfront fee because many of those posting videos will be paid based on how their content performs. Competing streaming services have been driving up the cost of this material. Amazon used a similar strategy to boost its inventory of electronic books through Kindle Direct Publishing, which lets authors bypass traditional publishers and reach readers directly by posting and selling their own e-books online. The Seattle-based e-commerce giant said the service is designed for “professional video producers, ” but its only requirements are that the videos be high definition and have closed-captioning for the hearing impaired.The company is offering 15 cents for every hour of viewing a video creator’s content via Prime Video in the U.S, and six cents an hour for views outside of the U.S. Content creators can also allow Amazon to show their videos to any visitor for free. In such case, Amazon says it is offering 55 percent of all ad revenue their clips generate. Content creators can also sell their videos via its subscription service, or its rental its store — in which case, Amazon will offer 50 percent of the revenue. YouTube has been long criticized for paying less to YouTube creators, forcing many to leave the platform, or look for alternate revenue channels. Read more of this story at Slashdot.

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Amazon Goes After YouTube With New Online Video Posting Service