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It also pays the creators better than ads ever did or ever will.
Sure you could pay them all individually, but that gets tedius real fast when you like hundreds of channels.
Yeah, I've got a lot of channels I subscribe to. I don't know the total count right now, but last I checked it was 100+. Some of them are daily/weekly uploaders, but I think a majority of them are much less frequent. If I had the means, I'd rather financially support those creators directly, but that's just impossible for me right now. So at the very least, I'm making my views more valuable to them.