Tuesday, March 5, 2024

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    Social platforms become ‘marketing engines’ as creators look for direct deals to earn money

    The creator economy has spent the last few years ballooning, vacuuming up more and more ad dollars each year. But the creators, who were once beholden to mysterious social media platform algorithms and anemic creator fund earnings, are increasingly moving to cut out the platforms themselves as middlemen.

    Because of the platforms’ unpredictable algorithms and mysterious revenue sharing models, social media is becoming more of a marketing vehicle for creators rather than a means to drive revenue itself, creators say. Instead of waiting on the creator fund promised land, creators are rethinking how they view the platforms, with some using social media as a means to get the attention of brands rather than to generate revenue.

    It’s partly a matter of diversifying revenue streams beyond the platforms themselves to include things like Patreon subscriptions or shoppable content via Like To Know It links in bios. It’s also, per creators, partly out of frustration with low creator fund payouts. (See how much social media behemoths are willing to shell out to creators here.) Increasingly, creators are opting to strike deals with brands and advertisers directly over email or social media direct messages as opposed to relying on social media platforms themselves as revenue generators. 

    Continue reading this article on digiday.com. Sign up for Digiday newsletters to get the latest on media, marketing and the future of TV.

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