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.

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⏰Top Stories

• 💰Forbes Top Creators 2023 list is out…

• 🫢 Meta admits Threads is not doing so well…

• 💅Snapchat is now the place to be if you’re a beauty influencer!

• 🤝TikTok is exploring a partnership with Google to drive search traffic

• 🧑‍🎄New tools by Meta to help festive advertisers during the first ‘AI powered holiday season’

Forbes Top Creators 2023

Online creators, influencers, and streamers hold a significant presence in the entertainment and advertising landscape, earning $700 million from their 2.6 billion followers—a 20% increase since 2022. In 2023, brands are expected to invest $21 billion in creator marketing, a substantial rise from the $1.6 billion spent seven years ago, according to Influencer Marketing Hub. Explore the Forbes Top Creator list to identify individuals shaping the fields of media, marketing, and entertainment. 🔗Check out who made the list

Meta admits Threads engagement is tanking and performing lower than it would like…

While the Threads team continue to refine the app, in the hopes of providing a true alternative to X, the early buzz around the platform has clearly eased, which could be the beginning of the end for the Meta-owned challenger.

Yet, despite this, there’s still a lot of interest there, and Threads usage is still relatively high, even without all of the key features required to meet user demand.

That’s according to Instagram chief Adam Mosseri, who provided a brief update on the state of Threads in his weekly Q and A on Instagram Stories, in which he touched on some of the key challenges for the app, and how the Threads team are working to improve.🔗Read more

Snapchat announces new tools designed to get more beauty brands investing in its AR experiences

Snap is rolling out a new batch of advertising and marketing tools for beauty brands looking to connect more with key audiences on Snapchat.

At its 2023 Beauty Summit in New York on Thursday, Snap revealed that it will soon launch developments like non-live beauty Lenses, makeup drops for Bitmoji and an ad tool called “Total Takeover.” It also revealed an upcoming partnership with NYX called the “Beauty Bestie” AR experience, as well as ways for brands to pull key search terms from “My AI” conversations for the purpose of targeted messaging.

Snap views AR as having the potential to “revolutionize” the way people interact with the world, with each other and with their favorite brands, Resh Sidhu, global director of Snap’s Arcadia Creative Studio, said in a session. Throughout the summit, brands spoke to the value they received from Snapchat partnerships — Estée Lauder, for instance, pointed to Snap’s large contingent of millennial users — and Snap is looking to partner even more on AR with brands that “really understand technology and innovation,” Sidhu said. 🔗Read more

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…

Meta

• Facebook will now allow users to create multiple profiles to explore different interests

• 🎁Instagram is expanding Reels Gifts to creators in more regions helping creators get support from fans who love their content and earn money

YouTube

• YouTube announces new creator tools, including generative AI options, at ‘Made On’ event

LinkedIn

• 🔎LinkedIn adds new generative AI search tools to sales navigator.

  • Command example: “Find me marketing decision makers at LinkedIn in the U.S. East Coast with whom I have a second degree connection.” AI-assisted search automatically does the work of selecting the right search filters, based on the prompt, to help unlock a new level of ease in sellers’ lead identification workflows.”

X

• X announces it’s shutting down Circles on October 31st

TikTok is exploring a partnership with Google to drive search traffic

According to a new report from Business Insider, TikTok and Google are currently exploring a new partnership, which would integrate Google search prompts, and potentially, at some stage, even results, into TikTok’s own search stream.

As you can see in this example, posted by app researcher Radu Oncescu, some TikTok users are now seeing a new prompt appear within their search results in the app, which includes a CTA to expand their search on Google.

Which looks like a sort of custom ad unit, though apparently it isn’t, which TikTok clarified in communications with BI.🔗Read more