YouTube has announced its acquisition of FameBIt, a marketplace for connecting video creators and marketers. The move will help the video service to better monetize its products. The financial details of the deal have not been disclosed. However, FameBit will reportedly keep operating independently from Google.

Google already has a variety of tools to help video creators earn money from advertisements including its Partner Program. FameBit will help video creators by matching them with brands. The creators and the brands may then collaborate for paid promotion or sponsorships.

Google also emphasized that FameBit's "democratized marketplace" will help creators to connect with brands. In a previous interview with TechCrunch, FameBit CEO David Kierzkowski had also stated that the service focuses on "long and mid-tail creators." Google's new move will ensure that all the YouTubers get a chance to earn money from their creations.

Google has clarified that it does not seek to promote FameBit over other services and that creators will get to choose how they collaborate with the brands. In order to join FameBit marketplace, creators need to have a minimum of 5,000 followers on social media including YouTube, Facebook, Tumblr or Twitter.

Top YouTube creators generally use their own agents for landing lucrative sponsorship deals. However, in case of middle and small sized creators, FameBit may add an extra touch of utility. YouTube already offers a part of its advertising revenue to creators through its Partners Program.