Business of Creators 💬

Being a creator means more than just recording, editing and uploading…

In one day, you might need to mock-up some designs for your scheduled posts, bag a sponsorship deal, email back that supplier, chase an invoice and find that perfect licensed sound effect you’re looking for.

What’s more, digital platforms are constantly evolving their algorithms and trends get old quickly. Keeping up with the pace of the Creator Economy is overwhelming.

The Business of Creators is your comprehensive support guide, in the form of a weekly newsletter, giving you the run-down of what’s new for platforms, trends you could be jumping on and tools to help spend less time on the mundane and more on your interests.

⏰Top Stories

• 👋 Ciao lightning cable! Apple’s latest iPhone 15 conference

• 👀Why creators needs are largely overlooked

• 📣Roblox announces AI assistant and more features to boost creator economy

• 📈New report finds influencer marketing > traditional ads

• ✋Sign up to TikTok’s Creativity Program

• 🏗️Meta is developing a competitor to OpenAI Share the newsletter

Elevate your video creation game with Vimeo's AI-powered tools.

From lightning-fast script generation to a user-friendly teleprompter and revolutionary text-based video editing, our platform empowers creators to produce jaw-dropping content in minutes. Whether you're a seasoned pro or just starting out, Vimeo's AI workflow simplifies the process, allowing you to go from idea to script in seconds, deliver flawless performances, and edit video effortlessly. Join the future of video creation today and experience the magic of AI with Vimeo. 👉 Check out Vimeo’s AI-powered tools

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Addressing creators’ true pain points & why their needs are largely overlooked

The top 1% of creators with massive followings dominate the news cycle and earn substantial wages from platforms like YouTube, but they don’t represent the vast majority. In fact, only a fraction of creators earn enough from major platforms to sustain themselves, and those who don’t require multiple revenue streams and access to funding to achieve long-term sustainability.

On YouTube, Forbes estimates that a creator might make $5 for every 1,000 video views, which simply isn’t enough when we consider the cost of living and inflation. Creators need a longer income runway and diverse revenue streams, so that if a recession hits, or a brand cuts their marketing budget, a creator’s income isn’t crushed by factors beyond their control. Offering other services, like virtual consultations, merchandise, freelance writing or design, content memberships and more can help “recession-proof” a creator’s business. The companies looking to serve creators who invest in understanding the complex realities of the 99% will be better set up for long term success.

Roblox announces AI Assistant and more features to boost its creator economy

At its annual Developers Conference today, Roblox announced several new developments aimed at helping creators get more from the platform.

Over the past few years, the gaming platform has drawn in celebs like Paris Hilton and Karlie Kloss and brands like Vans and Gucci, but today's announcements mark a concerted effort from Roblox to promote a more robust ecosystem of user-generated content.

New report finds that investment in influencer marketing Is rising faster than traditional ads

Influencer marketing is now a major consideration within most digital marketing plans. But did you know that influencer marketing spend is actually growing faster than investment into regular social ad spending?

That’s one of the many findings in Insider Intelligence’s latest influencer industry report, which looks at the key trends that are driving influencer marketing investment, and what brands need to factor into their ad plans.

Tool of the Week

Vimeo AI-powered tools for creators. One-take video creation. Create wow-worthy content in minutes with an AI-powered script generator, teleprompter, and a new way to edit video by editing text. 🔗Check them out here

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Platform round-up

Here we give you the latest run-down on updates and new features introduced across digital platforms. Leverage these to help you get ahead of the game…

LinkedIn

• LinkedIn adds new branded content library, listing all influencer campaigns in the app

  After rolling out its own branded content tags for posts last month, LinkedIn has now also added a new search functionality for branded content partnerships, which will enable users to explore all of the affiliate marketing campaigns that have used the new tags in the app. Read more.

YouTube

• YouTube launches test of new vertical live stream presentation format

TikTok

• Fashion Month just got more interesting. TikTok is hosting a range of Fashion Month initiatives with a dedicated team covering London, Paris and Milan.

Meta

• Getting ready for the Christmas season? Meta recently published a new guide to using AI in marketing that can maximize your ad performance.

Instagram

• IGTV reboot coming soon? Instagram is testing 3 and 10 minute reels uploads.

  • Share feed posts with ‘close friends’ only.

  • Some users are now seeing a new ‘Audience’ selector option within the post composer flow, which enables them to share their feed post with ‘Close Friends’ only, as opposed to posting to their profile as normal.

Unlock opportunities with TikTok’s Creativity Program

Designed to help creators foster their creativity, generate higher reward potential and unlock more exciting, real-world opportunities, the Creativity Program Beta is the latest addition to our range of monetization tools that support creators of all levels in being rewarded. We developed the Creativity Program Beta based on learnings and feedback from our creators on our creator solutions, including the TikTok Creator Fund. The Creativity Program Beta is now available to all eligible UK creators. 👉 Register

Meta Is developing a new, more powerful AI system as technology race escalates

The parent of Facebook and Instagram is working on a new artificial-intelligence system intended to be as powerful as the most advanced model offered by OpenAI, the Microsoft-backed startup that created ChatGPT, according to people familiar with the matter. Meta aims for its new AI model, which it hopes to be ready next year, to be several times more powerful than the one it released just two months ago, dubbed Llama 2.

The planned system, details of which could still change, would help other companies to build services that produce sophisticated text, analysis and other output. It is the work of a group formed early this year by Meta Chief Executive Mark Zuckerberg to accelerate development of so-called generative AI tools that can produce humanlike expressions. Meta expects to start training the new AI system, known as a large language model, in early 2024, some of the people said.