YouTube brings shopping features to YouTube Shorts in search for new revenues: report
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Google's (NASDAQ:GOOG) (NASDAQ:GOOGL) YouTube is slated to bring shopping features to its YouTube Shorts video service as the video-sharing site looks for new revenues amid a slowdown in ad revenue, the Financial Times reported.
The news outlet, citing sources close to the situation, noted that YouTube is also testing new commission rates for people who sell products via links.
In the company's third-quarter, Google (GOOG) (GOOGL) said that revenue from ads on YouTube came in at $7.07B, down 1.9% year-over-year.
YouTube started to see a slowdown in its ad network in the second-quarter by "some advertisers" and that increased in the third-quarter, Chief Business Officer Philipp Schindler said on the company's most recent earnings call.
In September, it was reported that YouTube was looking to more aggressively generate revenue on its short-form video service as it competes with ByteDance's (BDNCE) TikTok.
Google (GOOG) (GOOGL) CEO Sundar Pichai has previously said that YouTube Shorts see more than 30B views every day from more than 1.5B viewers every month. 
On Monday, it was reported that Saudi Arabia's sovereign wealth fund increased its stake in Google-parent Alphabet (GOOG) (GOOGL) in the third-quarter, among several other changes to its portfolio.