(Read Write Web) — Google just announced a new grant program that will distribute $5 million to “new and emerging YouTube partners. According to Google, the YouTube Partner Grants program is designed to find the best new ideas and production models from YouTube’s content partners. As Google notes, many successful YouTube partners are able to generate substantial revenues, but they still lack the resources of studio-backed production houses. The grants will allow producers to invest in better equipment and hire more talent. According to Google, there are very few restrictions on what the selected producers can do with their money. It’s worth noting, though, that Google’s grants will serve as an advance “against the partner’s future YouTube revenue share.”
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