Business of Creators 💬

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

• Latest on Threads

• Zuckerberg talks creator AIs

• To go viral on TikTok, do this

• Spotify revamps royalty model

• X, 1 year later: How Elon Musk made a mess of Twitter’s business

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📲 Platform updates unpacked

Get the lowdown on the latest digital platform tweaks and additions to stay one step ahead…

📲 X: X’s audio calling option is now live for some users.

📲 YouTube: YouTube expands creator monetization options to more regions.

📲 Meta Platforms: Meta posts record quarterly result, sees steady increase in users in Q3. Additionally, Instagram adds looping video clips in notes, Instagram is also testing a dedicated feed for posts from Verified users. Plus, Meta says users and businesses have 600 million chats on its platforms every day.

📲 TikTok: TikTok announces live concert event to showcase music trends.

Latest on Threads

Latest news: Meta's Threads app is gaining traction with nearly 100 million monthly active users, aiming to provide a more positive alternative to Twitter. Mark Zuckerberg says Threads has a ‘good chance’ of reaching 1 billion users in a few years.

Trend: Users on Threads are turning to 'Dear Algorithm' posts, seeking connection and content curation from an enigmatic digital deity, reflecting the convergence of targeted advertising logic and spiritual appeal to algorithmic powers:

Zuckerberg talks creator AIs

Meta Platforms CEO Mark Zuckerberg emphasized the pivotal role of artificial intelligence during the company's third-quarter earnings call. Zuck highlighted upcoming "Creator AIs" set to transform user experiences in Meta's apps, aiding creators in engaging with their fans.

However, questions lingered regarding Meta's Reels, a TikTok competitor, and plans to enhance creator monetization. Zuckerberg suggested a shift towards an overall video focus rather than emphasizing Reels. Meta aims to support creators, particularly through its Twitter-rival app Threads and ongoing investments in AI and metaverse projects.

To go viral on TikTok, do this

Many TikTok creators have mastered the art of gaining attention and engagement using subtle tricks. One such tactic involves applying lip gloss within the opening seconds of a video. This simple action piques viewers' curiosity and compels them to watch, often without realizing why they're captivated. These tactics create a personal connection with the audience, prompting inquiries about the lip gloss or other elements featured in the video.

Inside TikTok's engagement strategies: TikTok is a platform brimming with experts who generously share their engagement strategies. Among their advice is the importance of keeping videos dynamic and active to prevent viewers from getting bored. These insights are invaluable for aspiring influencers seeking to make an impact on the platform.

The ever-evolving social media landscape: While unveiling these engagement tactics may provide consumers with a fresh perspective on online content, it doesn't necessarily reduce their effectiveness. Creators are constantly innovating, introducing new methods to engage audiences. For instance, pretending to be running late while filming a video is a subtle yet effective way to keep viewers interested. The ever-changing nature of social media ensures that new trends and techniques will continually emerge. (Read more: NYTIMES)

Spotify revamps royalty model

Spotify is set to overhaul its royalty model in early 2024, potentially benefitting major labels and artists, while impacting indie musicians.

The changes include penalizing fraudulent activity, increasing minimum playtime for noise tracks, and implementing a minimum annual stream threshold for track royalties, sparking criticism over potential inequalities in payments.

X, 1 year later: How Elon Musk made a mess of Twitter’s business

User decline and workforce reduction: Daily user engagement dropped by approximately 13%, and the workforce shrank from 7,500 to 1,500 employees.

Shift to paid subscriptions and advertiser challenges: Musk's plan to emphasize paid subscriptions saw limited adoption, while top advertisers spent less due to platform instability.

Increased misinformation and content moderation issues: Musk's free speech approach led to a rise in misinformation and a relaxation of content moderation, affecting content quality and user experience.

Musk's management of X has raised concerns about its future and advertiser relationships, as the platform grapples with declining user engagement and content quality. (Read more: Bloomberg)

Worthy reads…

• Kylie Jenner is launching a clothing line. In an interview with The Wall Street Journal, Jenner said the first Khy collection was based on her own personal style and that nothing would cost more than $200.

• Now Meta’s Quest 3 lets you choose: better battery life or better VR graphics?

• The new, ‘efficient’ Spotify has a very different approach to podcasting.

• Will X’s addition of audio and video calling create stickiness in the app?

• Pinterest launches new information and education hub for creators.