The influencer marketing platform will also be offering new products to go along with the rebrand.
YouTube shared the news via its official blog, where it informed creators that it would be renaming FameBit in order to more closely associate it with YouTube itself.
Google acquired FameBit in 2016, which allowed it to offer creators two services. The first was a self-service website, which would allow creators to personally look for brand deals, while the full-service program would allow in-house experts to create connections between creators and brands.
In March, the self-service feature was removed, with YouTube citing it only accounted for approximately 4% of payouts, while the full-service option generated a total of 30 times more revenue for creators.
The rebrand follows the March 2020 arrival of Lori Sobel, who joined the team as Managing Director and Global Head of Business. In this position, she will be in charge of strategy, revenue generation and operations.
Under BrandConnect, brands will bee able to see greater accountability, through the use of Brand Interest Lift and Influencer List. Brand Interest Lift is said to measure search behaviour that results from creator videos, while Influencer Lift looks to the likes of purchase intent and brand recall, amongst other factors.
Brands will also be able to utilise Google Insights and other tools to gauge the impact of their deals with creators, a first for YouTube.
YouTube is also set to add new ad formats to its website, including an update to its “Shopping Shelf” format and the introduction of a new “Media Shelf”, which will allow viewers to purchase and/or rent films a creator recommends in a video. This will be an extension of the “Shopping Shelf”, which currently only features on-sale merchandise and apps.
The self-service website and associated accounts will be removed as of July 31, 2020. US creators with 25,000 subscribers are eligible to participate with BrandConnect, with the company looking to globally expand the feature in the future.
This past May, YouTube replaced its Google Preferred ad program with YouTube Select. Alternatively, you could read about Twitter rolling out voice tweets on iOS.