Creators, lawsuits, and AI

Hey there! 👋 MrBeast just shut down Elon Musk's idea of uploading videos on X (formerly Twitter). Why? Well, he called out the platform's weak monetization and financial struggles. MrBeast said he might reconsider when X's cash game gets stronger. Meanwhile, Fidelity dropped a bomb with a 71.5% value plunge in X. Looks like creators are grappling with some serious hurdles in this wild digital realm. 💥

Creators, lawsuits, and AI: Unraveling the Digital Drama

Dive into the labyrinth where creators are swapping content crafting for legal discourse. Led by The New York Times, lawsuits are thrust upon Big Tech. Yet, it's not just about dollars and cents; it's an intricate dance, a discourse on fair compensation, and an exploration of how AI's shadow could transform our digital landscape. Meanwhile, in the world of advertising, AI is silently infiltrating, promising cost-effectiveness and performance, leaving human influencers concerned about the encroaching digital rivals.

Lawsuits unveiled: Creators are shifting from crafting content to legal discourse. The New York Times takes on giants like OpenAI and Microsoft, sparking nuanced conversations about equitable pay and the looming influence of AI on online information searches.

AI in advertising: Big players like Amazon, Google, and Meta are introducing AI tools in advertising, creating virtual influencers that raise concerns among human counterparts. From cartoonish characters to photorealistic images like Aitana, virtual influencers challenge the traditional model.

Virtual influencers unveiled: AI-created virtual influencers blur the lines between authenticity and artificiality. Ad campaigns featuring virtual influencers, like H&M's with Kuki, show promising results, challenging the traditional influencer business model.

Intrigued? Here's the twist: As creators navigate legal intricacies and decode the enigma of AI's influence, it's more than a paycheck dispute. It's a symphony playing between tradition and an unknown digital future. In advertising, the collision of AI with the influencer economy introduces an odd yet fascinating new dimension.

What's next? Will creators orchestrate a triumph, or will AI compose a new melody for the future of creative professions? The unfolding saga promises both education and intrigue. Stay tuned for the next act in this compelling narrative.

Creatorpreneurs 2024: Upcoming trends in the Creator Economy space

Step into the dynamic realm of the Creator Economy, where a seismic shift is transforming the landscape. Valued at over $100 billion, this industry, involving around 300 million individuals globally, is undergoing a profound evolution. Get ready for the trends shaping the Creator Economy in 2024.

Rise of creatorpreneurs: A new breed is emerging, focusing on sustainable entrepreneurship, particularly in sectors like personal development and finance.

Unveiling growth: The educational space within the creator economy is set to surpass $460 billion by 2026, promising a thriving landscape for creators.

Digital learning products take center stage: Creators are diversifying away from social media, embracing entrepreneurship and digital learning products for stable revenue. It's a strategic shift toward sustainability.

Fin-fluencers on the rise: Financial awareness is surging, leading to a boom in finance and investment education. Investor accounts have tripled from 2019 to 2023, marking a significant shift.

Upskilling boom: Creator-led courses redefine education, with coding and digital marketing courses experiencing unprecedented demand. It's a revolution in skill acquisition and professional growth.

Health and well-being focus: A growing concern for health leads to increased spending on wellness-related services, reflecting a broader societal shift.

In a nutshell: In this ever-evolving Creator Economy, witness the rise of 'creatorpreneurs' who are reshaping success and turning knowledge into currency. Stay tuned as the digital landscape undergoes a revolution in 2024.

Trending

• Twitch will ban people pretending to be naked.

• Twitch is experimenting with 4K and multi-encode livestreaming.

• TikTok Shop, once luring sellers with low fees and subsidies, announces a commission hike to 8%.

• Peloton is bringing its classes to TikTok. The fitness brand will show a mix of content in a new hub on the app, called #TikTokFitness Powered by Peloton.

• YouTube is cracking down on AI-generated true crime deepfakes.

• Substack is going to remove five Nazi newsletters.

• Podcast downloads are down (again) thanks to iOS 17.

Influencers vs. Affiliates

Ever wondered why influencers are sidestepping the affiliate train? Brands may think they've nailed savvy marketing with affiliate programs, but influencers aren't vibing with the strategy. According to The Motherhood's latest scoop, a whopping 94% of influencers would rather pocket a predictable flat fee than roll the dice with a commission-based gig.

Inside scoop: Deanna Tomaselli, VP of Client Services at The Motherhood, spilled the tea: influencers "aren't here for it." But, let's be real, you've seen influencers hustling with discount codes lately - that's the game of tracking sales origins.

Why team flat fee? Influencers spill the tea on why they're Team Flat Fee. Dest Ramos spills the truth, saying it's not just about the sale but building that brand awareness. Creators are shouting, "Compensate us fairly!" according to Brittney Coburn, The Motherhood's EVP of Operations, it's a balancing act of education between influencers and brands.

The creator hustle: Only 17.2% of creators are down for the "affiliate/commission-only" life, and 26.7% won't budge on commission-only deals. Brands, take notes: influencers want that paper for their creative grind, sale or no sale.

Brand strategies: The Motherhood suggests a hybrid compensation model, incorporating a base pay alongside commissions, could boost creator enthusiasm. Still, the disconnect persists, fueled by a lack of understanding between influencers and brands.

Reading list

📲 If you want to be a creator, delete all (but two) social media platforms (The Startup)

💸 Influencers are becoming investors. This company is helping them close deals (Business Insider)

👀 How much TikTok pays for views, according to creators (Business Insider)

🔗 Instagram’s creators say new features miss the Mark (Bloomberg)

☕️ So you want to be a social media star? Here’s how to make money as an influencer in 2024 (LA Times)