YouTube channels can now receive cash contributions from fans directly after the largest video site introduced crowdfunding.

Anounced by YouTube CEO Susan Wojcicki at VidCon, an annual convention for the online video industry the new feature will make YouTube a rival for crowdfunding sites such as Kickstarter and Indiegogo and a rent entrant Patreon, which recently raised $15m to help YouTubers and other artists raise money from fans.

“Any viewer can show any creator their love by tipping them $1, $5, even as much as $500,” Wojcicki said. Youtube Fan Funding is still being tested. Intested Youtubers can apply for space HERE

YouTube has also launched a new YouTube Creator Studio app that will provide on-the-go channel management. The app will provide analytics and management tools. It is currently available on Android, and will soon be available on iOS.

Other announcement highlights include an expanded audio library, increased frame rates, and fan-sourced subtitles

Be aware that Google not only keeps the usual 5% — it also takes 21 cents per donation.This means Google keeps 26% of each transaction, if we assume the average user donates $1.