While platforms are working to add more monetization options for creators, in order to retain top stars, and keep their audiences coming back for more, merch and subscriptions remain the top earners, with tips still a way behind. “ Of revenue earned by creators, 28% is from merchandise or fan experiences 27% is from content subscriptions 27% is from a la carte payment for content 16% is from tips and 2% is from other sources.” The CTA study also found that around 20 million creators in the US are monetizing their content in some way online, with the average income for online creators sitting at $768 per month. In other words, don’t put all your eggs in one content basket, but do ensure that you’re aware of the latest consumption trends, which are set to be shaken up again over the next decade as we see a new wave of metaverse-native creators taking up this new stage. But in terms of spending your media dollars right now, there remains significant value in these legacy (for lack of a better term) formats, that could drive strong results. Younger consumers are far more aligned with individual creators that they find and subscribe to, and that is a key daily consumption trend to note. That has changed, of course, over the past decade, but it is interesting to note the significant role that editorially-curated content still plays in the broader media landscape. And while VOD services look set to be the death knell for traditional TV, despite younger consumers aligning with individual creators more than channels and shows, moderation and publishing control do still play a key part in sorting the cream from the crop, and amplifying that material to bigger audiences. While there’s clearly significant value in UGC, and big benefits for exposure and audience building in social apps, there’s also still something to be said for editorially-defined content. Which is important to note for brands – though it is also relevant to note that traditional TV and subscription-based video, right now, still takes up the lion’s share of media consumption time. The data underlines the evolving shift away from traditional media, and towards more democratized social media platforms as the key form of content consumption.
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