YouTube Shorts monetization does not work like a standard CPM. According to YouTube's own support documentation on Shorts monetization policies, YouTube combines all ad revenue generated between videos in the Shorts Feed each month into a single pool, then allocates a share of that pool to monetizing creators based on their proportion of total engaged views — calculated per country, not globally.
Creators who opt into the Shorts Monetization Module keep 45% of their allocated share of that pool; YouTube keeps the remaining 55%. That 45% figure is fixed regardless of a creator's size, but the size of the pool itself — and each creator's slice of it — moves with total ad demand and total engaged Shorts views across every monetizing creator that month. This is a materially different mechanic from long-form YouTube, where a creator's own video carries specific ads and the 55/45 split (in the creator's favor there) applies directly to that video's ad revenue.
The practical consequence: a creator's Shorts earnings depend not just on their own view count but on how much total engaged viewing happened across the whole monetizing creator pool that month, in that country. Two creators posting identical Shorts a month apart can see different payouts purely because the pool's size and competition for it shifted.
