Business of Creators 💬

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. 

Hello! Welcome to the newest edition of the Business of Creator newsletter! Immerse yourself in today's top stories:

• OpenAI sparks new creator revenue streams 💰

• Instagram boosts creator subscriptions 💨

• Gen-Z couple's five-figure Snapchat ad earnings 🏩

• 34 social media predictions for 2024 👀

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Platform round-up

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

📲 X: Posts corrected by the ‘Community Notes’ fact-checker will no longer be eligible for ad revenue sharing amidst criticism the model incentivizes posts with misleading content. 

📲 Meta Platforms:

• Facebook and Instagram to offer ad-free subscriptions in Europe

• More opportunities for creators in the holiday period are coming, including expansion of digital gifts and a holiday bonus programme. 

• Meta launches initial test of read receipts opt-out in DMs. Now, you can just not let people know that you’ve seen their DM.

• Instagram will now let you highlight post replies in stories.

📲Reddit: A new playbook for gaming advertisers has been published, highlighting the platform’s unique value for reaching gaming communities.

OpenAI’s first developer conference sparks new revenue stream opportunities 💰

Since launching ChatGPT into the zeitgeist, a new generation of AI has emerged causing both caution and excitement across almost every industry. Keen to keep its lead amongst emerging competitors, OpenAI hosted its first developer conference in DevDay in San Francisco.

With over 100 million weekly users on ChatGPT, there’s no doubt there is promise for creators to leverage AI to make their lives easier and help build revenue. Here’s a low-down of what’s coming soon:

• GPT store is launching later this month, letting users share and sell their customer GPT bots! 

• GPT-4 Turbo will have knowledge of world events up to April 2023, can fit over 300 pages of text in a single prompt, browse the web to write and run code and much more 

• OpenAI is letting anyone create their own version of ChatGPT

• New “copyright shield” defends customers from legal action 

🔗Read full highlights from event

Instagram is gearing up creator subscriptions 💨

It’s been a year since the subscriptions feature launched on Instagram and there are now 1 million active subscriptions. Although it might sound like a lot, there is still a large gap of opportunity given Instagram’s monthly users amassing to 2 billion a month. That’s why Meta has announced a rollout of new promotion features, including:

• A big ‘subscribe’ button at the top of every post so that non-paying followers know its available

• 30-day free trials

• A tool to let creators bulk DM new subscribers to chat with them, helping with engagement and retention 

🔗Read more

The Gen-Z couple making 5 figures from Snapchat ad-revenue sharing 🏩

Content creators Grey (left) and AJ (right) started dating at age 13 and 14, respectively. Today they are posting lifestyle and relationship content, mainly through Snpachat, which earns them some big moolah. There’s many a leaf to take out of their book… 

Today, AJ has almost 350k followers whilst Grey’s following logs at 175k. Yet the couple were not earning a crazy amount from the get-go. Before Snapchat, the couple were bringing in around $500 every few months through paid partnerships with brands, whilst working multiple jobs. That all changed when they shifted to Snpchat and became a part of their ‘Snap Star’ programme, allowing their content to show up on people’s ‘Discover’ feed. And with each click on their story, came immediate revenue…

🔗Read full article

34 predictions for social media marketing in 2024 👀

It’s soon going to be 4 years since we were locked down in our homes doom scrolling TikTok. So much has changed since then. We’re still doom scrolling TikTok though. But it would be naive to think that the status quo is going to look the same. Social media marketing is going to look very different next year to the post-pandemic era, including:

• Celebrity AI chatbots flopping

• AR glasses having a breakthrough

• Private messaging groups for businesses 

• X going bankrupt 

🔗Read full article