How can young people make money?

 Making money is easier, but "income" is still difficult.

An investigation found that if today you ask American children what they want to do when they grow up? 11% said they wanted to be an astronaut, while 29% said they wanted to be a YouTube star. To some extent, it can be said that the times are different. In the digital world, the ways to achieve "becoming an influential person" have become diverse.

Some more amazing data shows:

Ryan Kaji, the 10-year-old boy who made toys out of the box on YouTube, made $29.5 million in 2020

20-year-old Addison Rae is the highest-paid internet celebrity on TikTok. TikTok not only brought her 5 million US dollars a year, but also transformed her from an amateur to create a cosmetics brand...

Andy Warhol's assertion that "everyone can be a celebrity for 15 minutes in the future" came true. The original "Hollywood-style" starmaking method has changed. The so-called celebrities can have a more direct connection with users and consumers. They can realize their skills, expertise and hobbies, and in turn promote the birth of many "new professions."

Official account writers, short video creators, B site UP owners... Medium authors, TikTok internet celebrities, and YouTube UP owners in foreign countries can be collectively referred to as content creators.

Originating from Blog, content creation is an ancient industry, but now it is once again valued in the United States and even favoured by capital. Are there new product innovations around platforms and tools that serve creators, or are creators creating new ways to monetize, So that the so-called creator economy will usher in prosperity?

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Delivery and acquisition in the digital world

"Do you want to control my life?" 15-year-old Lev Cameron said on a product called NewNew. Cameron has 3.3 million  on TikTok. There are many creators similar to Cameron on NewNew. They can initiate any vote on the platform, such as "What clothes do I wear today? Which game to play? Who do I meet?", the fans pay Vote to help creators make some daily decisions.

If 80% vote Cameron to wear a green sweater, even if he doesn't want to, he has to do it. Of course, how many people are willing to pay depends entirely on your popularity. NewNew said this is equivalent to buying "individual stocks."

Products similar to those that help creators monetize emerge in endlessly. Their ideas mainly came from a platform established in 2013-Patreon, when the founder Jack Conte hoped to feed his band and music studio through crowdfunding. Give your favorite creators, which can be musicians, game developers, and YouTube anchors, a reward of $10 every month to support them in launching new content projects.

On this basis, there are also products such as Buy me a coffee, where users spend money equivalent to a cup of coffee to support creators. When creators get money, they can spend whatever they like. Users can’t get direct benefits. It is a true "power generation with love".

With such digital tools, creators can realize all aspects of their lives, provided they have a certain fan base. The development of convenient and direct tools from the perspective of creators shows to a certain extent that the "weight" of creators in the content production, distribution, and reach chain is changing.

The definition of "creator" in the 1990s was very limited and traditional, such as writers, actors, musicians, and so on. In the words of well-known technology blogger Ben Thompson, movie theaters are defined by "scarcity". There are so many movie theaters. Someone must judge what content will be valuable and become popular.

Therefore, our content consumption time is controlled by a few media giants. The content creators must be employed by media companies, and reporters write newspapers in accordance with the editor's requirements. Without the radiation effect of the Internet, the offline audience that a musician can gather for a concert is limited, and his monetization ability is also limited.

Until now, Internet content distribution platforms have shown a shift from "centralization" to "distribution", and some vertical platforms have emerged.

Li Jin (investor in the creator economy field) once made a list summarizing the vertical work platforms that have emerged in the past decade. Before the advent of these platforms, Craigslist (US version 58.com) was an "online talent market" that connected supply and demand. When there is more and more demand for an industry, it in turn promotes an increase in supply and specialization, leading to the emergence of many vertical work platforms. That is to say, many platforms now call themselves "Uber in the XXX field." The platform does a good job of matching supply and demand, and the party that provides the service is the supplier.

Using digital platforms, the supplier can provide a variety of services, which can be a class, an exclusive report, an adult movie, a selfie, or even five minutes of control over "idol" on NewNew. Internet technology lowers the barriers to entry into the supply side. This is what Ben Thompson said, in this era, "richness" replaces "scarcity". Creators begin to generalize in the traditional sense.

Are short films made by ordinary people necessarily less popular than actors? Not necessarily. But letting Lev Cameron wear a green sweater is not a white sweater, can one day be said to be content creation? It is also far-fetched.

The core is what users think is valuable, and when the supplier creates and delivers the value of user needs, supply and demand match. In other words, the creator in the creator economy should be a value creator, not limited to content creators.

Is the platform not important anymore, or is it more important to be good to the creator?

In 2018, the media Vice reported a YouTuber named Naomi Wu. Wu believed that the Vice report involved some aspects of private life, so he mobilized fans and attacked the Vice author. Because human flesh is a serious issue abroad, Vice approached Patreon and blocked her account.

Although in this "Rashomon" incident, both parties hold their own opinions, the more meaningful discussion is who the creators' "digital assets" on the platform belong to.

Obviously under this incident, Wu's digital assets were deprived, and most of her fans rewarded and supported her through Patreon, and she lost most of her source of income. In fact, for creators, such concerns have always existed.

The newsletter (email communication) platform Substack, which has received a new round of financing before, is considered to be doing the best job is that the author can get the email addresses of all subscribers. Once the author wants to leave Substack, he can also send the subscribers "packaging" at any time. go". Another company, Linktree, is that users only need to generate a link through Linktree and put it on the personal homepage of social media, and your fans can easily find you on other social platforms, and you can direct your fans on Facebook to TikTok.

SignalFire, an investment agency that invests in the creator economy, summarizes the development of the creator economy. YouTube, Twitter, and Medium use algorithmic recommendations to solve the distribution problem for creators. Distribution is very important for creators. Of course, the platform does not regard "good creators" as a top priority. Creators generally operate across platforms to avoid similar encounters with Naomi Wu.

Once creators have a fan base, one way of revenue is to share with platform advertisements, and the brand will find creators to "post advertisements." At this time, a large number of agents and intermediaries began to emerge. According to data from the marketing agency Mediakix, the current global Internet celebrity economy potential market totals 8 billion U.S. dollars and will grow to 15 billion U.S. dollars by 2022. But with branding and marketing advertising at the expense of the creator's personal brand, creators become smarter.

They began to focus on pleasing their die-hard fans by delivering paywall content, merchandise, newsletters and other services, instead of making the content “universal”, in order to comply with algorithm rules in exchange for more content. More click-through rate. Creators need to make a trade-off. They hope that the fan audience will be large, but the willingness to pay is not strong; there are still a small group of die-hard fans who "use love to generate electricity" and lead to Kevin Kelly. "Creators can make ends meet with 1,000 fans. "The prophecy.

But one trend is that creators' revenue methods are becoming more diversified, and money can come "directly" from fans.

As creators become more and more important, the tools to serve creators begin to be segmented. For example, since the second half of last year, domestic video platforms have launched their own video editing tools one after another. After unifying the graphic content market with the WeChat official account, editing tools such as Xiumi and 135 followed. How to liberate creators, maximize their creativity, and win over a group of content creators is their intention. In the United States, creator economics courses and educational tools are also emerging to teach ordinary people how to become a creator.

For example, Substack is a platform that specializes in pleasing creators but is not friendly to readers. Users must search for authors, publishers, or column names with a clear purpose. It is difficult to find what they want by asking questions or searching article keywords.

An Instagram celebrity in Europe and the United States may make money in this way. She will first use Karat to get the initial funds (Karat is a credit card company that specializes in providing services to internet celebrities. It first reviews the social media accounts of the internet celebrities applying for credit cards, and through the number of fans, The influencer uses Snapchat to record a video, edits it with inVideo, and posts it on Instagram. Then she will use Captiv8 (using AI technology to match influencers and brands) to seek brand connection, and then Stayed on Cameo and waited for your fans to find yourself to record a birthday greeting video, and finally use Delmondo to analyze the data.

But is today an era when everyone can be a creator?

For example, for reporters originally employed by the media, users will not pay too much attention to future or weekly changes, because the media paywall bought by the user, if he turns to Substack, he needs to maintain a certain update frequency, otherwise it is easy to be The subscriber cancels the subscription.

The value delivery of user needs is extensive, but in the digital world, the criteria for judging high-quality content have not been reduced.

There is another set of data. In Spotify, 43,000 top artists-only 1.4% of the total number of platforms, receive 90% of royalties, and each earns an average of $22,395 per quarter. The remaining 3 million creators earn only $36 per person; 97.5% of YouTubers' income is not enough to reach the American poverty line. Roblox, Patreon...Almost all content platforms have the same "gap between rich and poor".

Creators haven't made all the money, but what we see is that the platform that relies on the creator's ecological prosperity is growing rapidly, and they have received one round of financing.