Changes In The Creator Economy Influencers And Marketers Should Pay Close Attention To
The creator economy, as we know, is always in a state of motion. It's constantly evolving and throwing curveballs at content creators, influencers, marketers, business owners and practically everyone under the metaphorical creator economy sun. The past few months have seen significant changes in how creators produce and monetize content. From TikTok bans to new bills that make it mandatory for users to disclose the use of 'filters' in any content they share, the landscape for creators is changing rapidly.
Here are some of the changes in the world of influencing and content creation I think both creators or influencers and brands should pay attention to.
TikTok, the popular video-sharing app, has faced several bans and restrictions in recent months. In the United States and Canada, Montana being the latest state to join the movement, has banned the use of the app on federal devices. India also banned the app in 2020, citing national security concerns. The latest country to ban TikTok is Pakistan, which blocked access to the app in October 2020 over concerns about "immoral and indecent" content.
While the reasons for the bans vary, the impact on creators is clear. Many creators have built their careers and followings on TikTok, and losing access to the app can be a significant setback. Of course, if you're big on video content and want to ensure your video strategy doesn't hit a hurdle, we recommend you read Your Video Strategy Should Include More Than Just TikTok for some killer tips.
French bill about filters in photos
In April 2023, a bill was introduced in France requiring influencers and content creators to disclose when photos have been digitally altered using a filter or other editing tool. The bill is intended to combat the negative impact of unrealistic beauty standards, particularly on young people.
While the bill is being lauded by the people, its potential impact on the creator economy is significant. Many creators, particularly in the beauty and fashion space, rely on filters and editing tools to enhance their photos and videos. If the bill becomes law, creators may have to disclose when they've used a filter or other editing tool, which could impact the authenticity of their content. While I see this as a step in the right direction (and wonder why this isn't in action in every country out there), this is, as I said, a very impactful change in the lives of many content creators and influencers.
New opportunities for monetization
Despite these challenges, creators also have new opportunities to monetize their content. Patreon, a membership platform that allows creators to offer exclusive content and perks to their fans, has seen a surge in popularity in recent months. The platform has over 250,000 active creators and 7 million active patrons, with over $2 billion paid out to creators since its founding in 2013.
Other platforms, such as OnlyFans and Cameo, also provide new ways for creators to monetize their content. OnlyFans, which began as a platform for adult content, has since expanded to include creators in a wide range of niches, from fitness to cooking. Cameo allows fans to request personalized video messages from their favourite celebrities and creators, with prices ranging from a few to thousands of dollars per message. Here, you can find blockbuster celebrities as well as influencers like Jake Paul as one of the celebrities available to work with.
The creator economy is constantly evolving, and while there are challenges to navigate, there are also new opportunities for creators to connect with their audiences and monetize their content. Whether it's through new platforms or innovative approaches to monetization, creators are finding new ways to thrive in an ever-changing landscape.