Marc Hustvedt and Samir Chaudry: The Creator Economy Is Actually Now the Ad Economy
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Marc Hustvedt and Samir Chaudry: The Creator Economy Is Actually Now the Ad Economy
Although within the Creator Economy, innovative partnerships can enhance viewer engagement and brand value, advertising remains a critical revenue stream for creators, according to Marc Hustvedt, president of MrBeast, and YouTube creator Samir Chaudry of Colin and Samir.
The duo recently dissected the industry's shifting revenue models.
“Because we are still making ad-supported free content for a global audience,” Hustvedt explained, "creators must find a way to help change the way the advertising business currently functions.
Chaudry agreed: “The reality is, if you’re a creator, you’re in the ad business, period.”
He urged creators to make the leap from on-camera talent to producer: “I’ve been thinking about this a lot — like, where does dealmaking go in the future of the creator space?” Here's what he concluded.
The Economy Part of the Creator Economy: What’s Changed?
"Marketers are finally starting to embrace creator content after many, many years of considering it to be less than or lower quality than studio-produced content,” explained Jasmine Enberg, principal analyst at eMarketer in a recent session at VidCon.
Indeed, there’s a growing convergence between serious business investors and the world of content creators, with more traditional investors recognizing the potential and value of the Creator Economy.
“Marketers are shifting their budgets from traditional and digital channels to influencer marketing, recognizing the authenticity and engagement that creators bring to their campaigns,” she continues. So what's changed?
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Recognizing ROI in Influencer Marketing: Growth, Trends and Challenges
In 2024 the influencer marketing industry is projected to reach $24 billion, according to a new report from Influencer Marketing Hub, powered by social media platforms like Instagram and TikTok and the increasing adoption of AI.
The report outlines the significant trends, challenges and strategies shaping the future of influencer marketing.
What’s (Currently) Driving Revenue in the Creator Economy
“The need for content is at an all-time high right now, and creators have really become an important source of content for a lot of brands,” eMarketer Social Media Principal Analyst Jasmine Enberg said.
Although sponsored content remains the top revenue stream (followed by ad revenue sharing and creator funds, considered platform payouts) for content creators on social media, Enberg said “alternative revenue streams… are growing the quickest.”
These primarily consist of “direct audience monetization tactics” such as “tipping and gifting, merchandising and subscriptions.”
Estimations and Calculations for Influencer Pricing
Digital marketing strategies today heavily rely on influencers to amplify brand messages. With 80% of marketers recognizing their value, according to Sprout Social’s most recent survey , the challenge lies in both decoding the complexities of influencer pricing and measuring ROI.