Business of Creators 💬

Stay ahead of the curve in the creator economy...

Coachella has finished, April showers have set in and TikTok bans keep looming…In a world of over stimulating news, we’re here to filter out the noise and give you your daily feed of updates. ENJOY 🫶

Industry latest

⚠️The bill to ban TikTok advances as it heads for a Senate vote, leaving some influencers and creators anxious, but options are opening in potential buyers for ByteDance’s stake. 

🌅Cannes Lions Festival introduces LIONS Creators, a new event taking place from June 18 to 20, offering specialized learning and networking opportunities for creators and industry professionals.

👋Join content creators of all kinds at CEX24, the premier event for learning and networking, happening May 5-7 in Cleveland, Ohio.

📈Electronics Hub's team recently created a visualization using Datareportal's data on screen time and social media use across international regions.

^{Sponsored by Passion.io}

How Kim Vopni uses her custom coaching app to earn $215,000 each month 

Kim Vopni had a hard time reaching her target audience of women going through menopause. 

Then Passion.io gave her a way to share her courses and coaching in a way that finally clicked. 

Kim launched her custom mobile app quickly and easily, and invited her followers to try it out. 

Her results? 

• Earnings: $215,000 in monthly revenue.

• Audience: Expanded globally.

• Authority: She’s now a leading voice in women’s health.

Any coach or creator like you can create a lasting impact with your own app. 

The best part: you don’t need to be a tech-expert or have a big budget. 

Check out this free webclass to learn more 

The rise of FAST channels in streaming surges with the help of Mr Beast and other YouTubers 

You've probably heard about "FAST channels" popping up everywhere in the streaming world lately. These channels, short for "free ad-supported television," are all over platforms like Pluto TV, Tubi, and The Roku Channel, streaming non-stop video content 24/7. They're grabbing content from big-name creators like MrBeast and Rhett & Link, who are all jumping on the FAST bandwagon.

Larry Fitzgibbon, CEO of Tastemade, says FAST is booming for them, with seven channels across over 20 services. They're featuring creators like Trevor James and Brazilian chef Alex Atala to expand their reach. Even big tech giants like Amazon are getting in on the action, launching their own interactive FAST channel on Prime Video and Freevee, showcasing top influencers and celebrities.Creators are cashing in on these channels as advertisers shift from TV to streaming. Platforms like Pluto TV and The Roku Channel offer revenue sharing similar to YouTube, but the cut varies. Plus, creators can recycle existing content for these channels, creating an extra income stream.

But there are challenges. Creators need a sizable following to land these deals, and the FAST market is getting crowded fast. Experts predict a shakeout in the future, meaning some channels might not survive the competition.

While top creators may benefit, FAST might not stick around for everyone.

Platform round-up

Leverage the latest updates and features across digital platforms to help you get ahead of the game…

👀YouTube is trying out a "Most Relevant" section in the "Subscriptions" tab to make it easier for users to see recent updates from their favorite channels, sorted by engagement factors.

👏Instagram is enhancing its creator subscription features, including:

• Providing creators with data on sticker engagement.

• Expanding subscription stories teaser display to entice non-subscribers.

• Introducing measures to prevent screenshots and screen recordings to protect exclusive content.

• Sharing case studies and best practice tips within its professional dashboard.

🆕YouTube introduces "YouTube Select Shorts" for advertisers to ensure prime placement for Shorts ads. Advertisers can choose from five categories for placement:

• Entertainment

• Beauty, Fashion & Lifestyle

• Food & Recipes

• Gaming

• Automotive

This offers more control over Shorts promotions and maximizes exposure to viewers in specific niches. With Shorts now viewed by 2 billion logged-in users monthly and increasing viewership on TVs, it presents a valuable opportunity for video campaigns.

Creators are diversifying revenue as affiliate marketing surges

A report by The Information back in 2021 highlighted how creators mainly relied on sponsorships with advertisers to rake in their earnings. Fast forward three years, and the landscape is shifting. Now, affiliate marketing – where creators earn commissions from product recommendations – is gaining traction as a significant income source. Recent data from Emarketer reveals that affiliate marketing generated around $894 million in creator revenue on social media in 2023, marking a whopping 57% increase since 2021. Emarketer predicts this revenue stream will only climb by nearly 23% to over $1 billion this year. Here’s the take away from the report… 

👉Revenue from merchandise sales is also on the rise, expected to surge from $128 million three years ago to $452 million this year - making it the fourth-highest income generator for creators. 

👉Jasmine Enberg, principal analyst at Emarketer, notes this shift as a sign of the creator economy maturing, leading creators to diversify their revenue streams.

👉Influencer marketing remains dominant, accounting for a staggering $7 billion in earnings last year. Payouts directly from social platforms, like YouTube's ad-revenue sharing program, followed closely, totaling nearly $3 billion.

👉Yet Enberg observes changes within influencer marketing, with advertisers now favoring fewer, larger campaigns and collaborating with a smaller pool of creators. This trend, she says, has left some creators experiencing a "deal drought," despite increased spending on influencer marketing and investments in affiliate programs.

👉Data tracking the creator economy remains challenging, as traditional institutions overlook this sector, and creators' contributions aren't captured in broader labor statistics. 

👉For creators heavily reliant on influencer marketing income, diversification is becoming increasingly urgent. As marketers reassess their spending strategies, exploring alternative revenue streams has never been more crucial.