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TikTokers strike gold on Facebook

TikTokers strike gold on Facebook

...TikTokers are making thousands on Facebook, an often overlooked 'cash cow' for short video...

Business of Creators
October 25, 2023

Business of Creators 💬

Greetings! 👋

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

TikTokers strike gold on Facebook
Podcasting's rollercoaster year
Millennials & Gen-Z prefer Facebook for shopping
Social media artist goes mainstream
Cooling interest in short-form video on YouTube and Snap

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📲 Platform updates unpacked

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

📲 X: Elon Musk outlines X premium subscription packages, including an ad free option.

📲 YouTube: Halloween engagement tips for YouTube shorts have just come out. Plus, YouTube Music now lets you make your own playlist art with AI.

📲 Instagram: Instagram tests new “Nearby” feed for stories. Also, Instagram tests a dedicated content feed from ‘Meta Verified’ accounts. Plus, you can now add polls in your feed and reel post comments.

📲 TikTok: Watch out YT…, 15 minute video uploads are being tested on TikTok.

📲 Snapchat: Snap crosses 400 million users, sees return to revenue growth in Q3.

📲 Twitch: Twitch will now let streamers simultaneously stream on any service they want.

📲 Discord: Discord is going to give out warnings instead of permanent bans.

TikTokers are making thousands on Facebook, an often overlooked 'cash cow' for short video

TikTokers are discovering the financial potential of Facebook, which often goes unnoticed in favor of platforms like TikTok and YouTube. Facebook offers multiple avenues for creators to earn money.

Substantial earnings on Facebook: Creators like Morgann Book and Nuseir Yassin have earned thousands on Facebook, with verified earnings data. The platform's monetization tools have expanded, including in-stream ads, ads on reels, bonuses, and user-pay options.

Leveraging older audiences for revenue: Facebook's older audience, often aged 28 to 45, is a lucrative source of income for creators, leading to increased earnings. Some creators manage Facebook themselves, while others utilize third-party startups to tap into this untapped market.

Podcasting has had a very chaotic year

“I don’t know why Joe Rogan’s weekly drop of three hours of unedited babble is always one of the top podcasts in the country. I don’t know why so many people like Morbid or Alex Cooper. When I look at the top podcast charts, I see a mix of disposable true crime, news podcasts from major media outlets like NPR or The New York Times, and buzzworthy celebrity-led efforts like Strike Force Five or SmartLess or that one hosted by Taylor Swift’s boyfriend and his brother. But while the titles that have wide appeal may be a mystery to me, they clearly resonate with others”

(Read the article)

Facebook is the platform where millennial and Gen-Z consumers are most likely to purchase a product, according to a new survey

A recent survey of 1,000 US social media users, conducted by Traackr, found that Facebook is the top platform for millennial and Gen-Z consumers to make purchases. The survey aimed to understand changes in influencer marketing and yielded 5 key findings:

Facebook is the preferred platform for millennial and Gen-Z shoppers.
YouTube is the go-to for creator content, with short videos being the most engaging.
Facebook excels in social commerce, while YouTube is king for product reviews.
Influencers significantly influence consumer choices, with trust playing a key role.
Consumer willingness to pay for exclusive influencer content is somewhat limited, at 41%.

What happens when an artist who’s famous on social media gets taken seriously by the mainstream art establishment?

Ben Davis wrote a review of artist Devon Rodriguez’s solo show called “Underground,” a nod to how Rodriguez rose to fame: doing portraits of fellow subway riders, giving them the portraits, and posting the whole thing to TikTok. I tend to view the existence of a review as someone taking art seriously — even if the reviewer doesn’t like the art, it was worth considering thoughtfully. Rodriguez didn’t see it that way, and now Davis is writing about what happens when social media and the art world interact.

www.theverge.com/2023/10/22/23927730/what-happens-when-an-artist-whos-famous-on-social-media-gets-taken-seriously-by-the-mainstream-art-e

YouTube and Snap results suggest consumers cooling to short-form video

Snap and YouTube are showing signs of a potential slowdown in consumer interest in short-form video.

Snap's decision not to disclose monthly active users for its Spotlight feature raises questions about user growth. Similarly, YouTube Shorts maintained its 2 billion monthly logged-in users but did see an increase in daily views.

On the bright side, Snap's revenue bounced back with a 5% YoY increase, and daily active users grew by 12%. YouTube's revenue also saw substantial growth, up nearly 12.5% YoY, boosted by strong advertising and subscription business performance.

However, both platforms still face challenges in dethroning TikTok's popularity. Shifting consumer behavior toward more in-person activities may be influencing the short-form video landscape, with Reels on Instagram expected to provide further insights when Meta Platforms reports its results.