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- LinkedIn Ventures Into Short-Form Video Territory, App Tests TikTok-Esque Feed
- $75 Million And Counting - Inside FaZe's Unstoppable Branded Merch Money Machine
- Brokerage Hit With Record $850K Penalty For Unleashing Unchecked 'Finfluencer' Campaign
- Meta Accused Of Illegally Wiretapping Rival For Competitive Edge
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Great Reads
Finfluencers Face Jail Time, Unlimited Fines For Non-Compliant Ads Under New UK Rules
The UK's financial watchdog is taking a hard stance against misleading promotions of financial products by social media influencers known as "finfluencers." New guidance from the Financial Conduct Authority sets stringent requirements for finfluencer ads and promotions. Violators face potential jail sentences up to two years and unlimited fines, even if operating outside the UK. To comply, finfluencers must prominently display full risk warnings that are continuously visible throughout any promotional videos or images.
Brief captions or voiceovers are insufficient. The FCA warns firms that partner with influencers that they are "on the hook" to ensure promotions follow advertising rules. Complex financial products may be inappropriate for inherently limited social media platforms. The crackdown aims to rein in a booming trend of finfluencer marketing amid the retail investing surge. In 2022 alone, the FCA forced changes to over 10,000 promotions deemed non-compliant.
LinkedIn Ventures Into Short-Form Video Territory, App Tests TikTok-Esque Feed
LinkedIn is venturing into TikTok's territory by testing a new vertical video feed within its professional networking app. The feed presents short, bite-sized videos in a full-screen viewing experience akin to TikTok. The dedicated "Video" hub allows users to vertically swipe through and engage with career and workplace-focused video content. It represents LinkedIn's biggest push yet to make video a core part of its platform experience. While users could already upload videos to LinkedIn, the new design streamlines content discovery and leans into consumption metrics.
The move opens potential new distribution channels for career influencers who have audiences on TikTok. LinkedIn's parent company Microsoft has not outlined monetization plans yet. But providing revenue opportunities for creators is expected if the test generates enough engagement to warrant an official product launch. For now, the TikTok-esque feed remains in limited testing as LinkedIn evaluates whether its professional user base embraces or rejects the incoming vertical video onslaught. The test signals LinkedIn is closely watching TikTok's popularization of short-form video across social media. Unleashing more viral, snackable videos could help the Microsoft-owned app stay relevant among younger demographics.
The Accidental Influencer: How Brent Underwood Turned A Ghost Town Into A Media Empire
Brent Underwood accidentally became an influencer after purchasing the abandoned mining town of Cerro Gordo, California in 2018. Originally envisioning it as a hospitality venture, the pandemic led Underwood to start documenting life in the ghost town on YouTube to share with friends. His authentic videos uncovering Cerro Gordo's history and exploring its sites like mine shafts captivated an audience. Underwood lets viewers be part of his journey of discovery, creating community by engaging with comments and asking for input. The "Ghost Town Living" project monetizes through YouTube ads, merchandise, and income from Underwood's parallel marketing career. Key challenges include lack of running water and finally opening accommodations for visitors.
With a book tracing his transition from unsatisfying corporate jobs to finding purpose in Cerro Gordo forthcoming, Underwood's story exemplifies how sharing one's authentic passion can cultivate a sustainable digital community and career. His advice: "People don't care what you do, they care why you do it... shine through your passion, that's what will create a sustainable platform for creators."
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Campaign Insights
$75 Million And Counting - Inside FaZe's Unstoppable Branded Merch Money Machine
Leading gaming collective FaZe Clan has generated over $75 million in licensed product revenue from 2022-2023 through an innovative dual revenue model focused on co-branded sponsorships and merchandise. FaZe has excelled at engaging hard-to-reach Gen Z, Gen Alpha, and Millennial consumers for brand partners spanning multiple product categories and revenue streams.
Key successes include FaZe Pop ranking as the #1 new energy drink at 7-Eleven in 2023, the FaZe LeBron NXXT Gen shoe selling over 70,000 units as Nike's top global seller in March 2023, and Totino's FaZe Buffalo Chicken Pizza Rolls becoming their top co-branded product in a decade. The gaming organization's exclusive branded product lines with Zuru toys, SteelSeries peripherals, and others have generated massive sales at major retailers like Target and Best Buy. Following its acquisition by GameSquare, FaZe's brand resonance and merchandising capabilities are expected to drive continued revenue growth in 2024 and beyond for the combined next-gen media platform reaching over 1 billion consumers. FaZe's roster of top gamers, esports pros, and content creators powers effective marketing for culturally-attuned brand activations translating to lucrative co-branded product success at mass retail scale.
Brokerage Hit With Record $850K Penalty For Unleashing Unchecked 'Finfluencer' Campaign
In a first, regulators fined brokerage app M1 Finance $850,000 over its unreviewed social media influencer marketing between 2020-2023. M1 hired around 1,700 influencers who brought nearly 40,000 new customers by promoting the firm's accounts. FINRA found M1 violated rules by failing to approve influencer content, some making inaccurate claims like flexible margin loan repayment. As #FinTok and investing advice proliferates on social media, the agency aims to set oversight precedents.
Bill St. Louis of FINRA stated "As investors increasingly use social media...FINRA's rules on public communications are critical" to address influencer risk. Studies show most young investors get financial guidance from social platforms with much potentially misleading. The enforcer called out M1's "practices and supervisory systems" lacking policies for the booming yet unregulated influencer marketing space. For creator economy businesses leveraging influencers, proper vetting and compliance processes are now essential to avoid crackdowns as regulators reckon with finfluencer content impacting markets.
How Unilever Leveraged The Popularity Of Beauty Influencer To Promote New Product Line
Unilever has signed influencer Sofia Richie Grainge to a one-year deal to promote its new 11-product Nexxus styling collection aimed at recreating popular hairstyles from TikTok. The line includes products designed for trendy looks like "glass hair" and 90s volume. Unilever chose the 25-year-old model and 11 million Instagram follower for her credibility showcasing hair tutorials. While Grainge fell ill for the LA launch event, her hairstylist led product demos aimed at media and influencers instead. Content from the event featuring Grainge will roll out across social channels.
The $15.99 average price point styling products will be sold exclusively at major retailers like CVS, Ulta, Walmart and Target. Unilever plans an influencer marketing push with additional creators plus digital ads tailored to the purchase funnel. It will judge success based on sales targets, influencer engagement metrics, brand equity impact and more. As Grainge awaits motherhood, Unilever will update assets to highlight her changing hair needs throughout her partnership promoting the new styling line. The influencer endorsement deal underscores how brands are tapping influencers' popularity and perceived authenticity to drive buzz for new beauty launches.
The Secret Weapon Behind Lululemon’s Biggest Competitor’s Explosive Growth? 12,000 Athlete Ambassadors
California athletic apparel brand Vuori has strategically partnered with over 12,000 athlete ambassadors across professional, college, and community levels to promote its products and connect with new audiences. This includes around 400 new NCAA athlete partnerships in 2023 alone, exemplified by their evolving relationship with influencer gymnast Livvy Dunne. Vuori featured Dunne in a recent commercial and campaign promoting its new BlissBlend athletic collection, showcasing how ambassadors authentically demonstrate the brand's performance positioning.
The company carefully vets partners aligned with its values for genuine endorsements that resonate with existing fan bases. Other high-profile ambassadors include tennis pro Marcos Giron, cyclist Justin Williams, runner William Goodge, surfer Alana Blanchard, and golfer Michelle Zhang. By supporting young, ambitious athletes' goals, Vuori reinforces its athletic credibility while gaining exposure to their audiences. CMO Karen Riley-Grant confirmed finding "great success" with this influencer strategy across athlete tiers, an "integral tool" they plan to elevate further for global brand scaling. Through vast, strategic athlete partnerships spanning pros to community levels, Vuori leverages authentic credibility, on-field product testing, and audience expansion to fuel the athleisure brand's rapid growth trajectory.
Brewing An Influencer Storm: Iconic Beer Brand Taps In With New Agency Of Record
Duvel Moortgat UK, the family-owned brewery group behind acclaimed craft beer brands like Duvel and Chouffe, appoints Ketchum UK to spearhead its influencer marketing initiatives in the region. This strategic partnership aims to revitalize the brewery’s influencer marketing approach and reinforce its brand identity among targeted audiences, per PR Week. Ketchum’s dedicated social and influence team, comprising over 20 specialists, will take the helm in crafting integrated campaigns for the craft beer group. Their expertise extends beyond campaign execution. The goal is to encompass comprehensive research and analytics to optimize campaign effectiveness and provide continuous measurements.
Duvel Moortgat UK’s Marketing and eCommerce Manager Jonas Rosales expresses enthusiasm for the collaboration. “From the outset, the Ketchum team impressed me with their ideas and strategic response. Their passion and experience in this space shone through, and I’m so thrilled to be working with them on what is an exciting time for Duvel and the craft beer industry, reinforcing our focus on quality and local identity.”
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Interesting People
Top TikTok Derm With 18 Million Followers Unveils New Skincare Brand Aimed At Gen Z And Millennial Audience
Dr. Muneeb Shah, TikTok’s most followed dermatologist with over 18 million followers on the platform, launches his new skincare line Remedy on March 19. The brand targets Gen Z and millennial consumers by addressing their top skin concerns at an affordable price point between $16 and $38. Shah has opted for a standalone brand rather than a licensing model utilized by other influencers. “If I turned around and launched a $70 product or $100 product or a $200 product, we’d sell it, and maybe it would even be easier to sell because we would have better margins, but it would be disingenuous,” Shah has told Business of Fashion, adding that his “audience would see right through it.”
Remedy focuses on the “skinimalism” trend of streamlined routines, a shift from multi-step regimens. “I started to get more and more feedback from my audience where they’re like, ‘Well, I just bought seven products from The Ordinary because I need all these ingredients to solve my problems. But how do I layer these products?’,” Shah explains.
How This YouTube Star Manifested The Opportunity Of A Lifetime For Her Beauty Brand
The Center, the beauty accelerator founded by Ben Bennett, has announced a new partnership with digital creator and entrepreneur Claudia Sulewski and her bodycare brand CYKLAR. Sulewski, a YouTube influencer and actress, launched the self-funded CYKLAR with a mission to innovate in beauty. As she looked to scale, she aligned with The Center to gain expertise and resources.
CYKLAR's standout product is its luxurious, gender-neutral Body Cream featuring the Crescent fragrance. The partnership aims to build on this success with an expanded lineup leveraging The Center's veteran team for product development, branding, marketing and operations. The news marks a significant integration of the creator economy into the traditional beauty industry as more influencers launch their own product lines. For The Center, adding CYKLAR represents another bold bet on the next generation of entrepreneurs at the forefront of innovation. While financial terms are undisclosed, the strategic partnership provides CYKLAR valuable support to scale amid forecasts that the global beauty market will reach over $511 billion by 2028, driven by rising skincare and gender-neutral demands.
Unfiltered: 19 Year Ald Australian Creator Divulges How OnlyFans Fame Has Negatively Affected Her Life
Maddie Miller, a 19-year-old Australian creator, is divulging the personal impacts of achieving OnlyFans fame at a young age. Though earning around $2,500 monthly from the adult platform, Miller reveals it has forced her to grow up too quickly. "I've lost family and friends and grown up too fast," says Miller, who joined OnlyFans at 18 fresh out of high school. She now advises waiting until at least 19 or 20. Beyond explicit content remaining online indefinitely, Miller was unprepared for betrayals like friends non-consensually sharing her photos. Such violations strain relationships and her self-perception.
Though financially independent from a traditional job, Miller finds the career's demands overwhelming at times. "My brain is focused on my work pretty much 24/7," she says, filming even when unmotivated. Despite the income opportunities OnlyFans provides some young women, Miller's unfiltered experience highlights complex personal costs - strained relationships, accelerated maturity, violations of trust and privacy, and intense workload pressures at a formative age. As more under-20s join the platform, Miller's candid perspective offers insights into navigating OnlyFans stardom's impacts beyond just the monetary benefits when achieving fame through adult content creation so young.
The Unconventional Path This Exec Took To Become An Influencer Marketing Leader
Victoria Bachan, President of Whalar's Global Talent Division, took an unconventional route from the music festival circuit to the forefront of the creator economy. Her self-taught journey through Hollywood dealmaking books and representing early YouTube stars gave her a unique perspective. Bachan believes authenticity is the driving force behind the creator economy's rise. Brands embracing organic trends, like Stanley's viral response, will succeed. However, she acknowledges the mental health toll of online criticism that creators face. As the space matures, Bachan anticipates disruptive factors like child creator regulations. At Whalar, she advises clients on sustainable multi-platform strategies to diversify audiences, unlock monetization opportunities, and gain richer data insights.
Whalar provides comprehensive support - setting goals, advising finances and content strategy, and teaching business acumen. Bachan envisions a future of more informal, human-centric brand authenticity balanced with professionalism from talent. Through championing authenticity, fostering innovation, and nurturing creator growth, Bachan and Whalar are redefining the brand-creator relationship. Their approach blends marketing with entertainment as lines blur across these converging industries.
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Industry News
This AI Tells Creators Exactly What To Film For Brands
BeeRoll is bringing new insight the user-generated content (UGC) space by leveraging AI to bridge the gap between brand control and creator authenticity. The platform uses AI for storyboarding, allowing brands to map out shot-by-shot instructions for creators to follow while maintaining an authentic UGC feel. Once creators submit footage based on the AI storyboards, BeeRoll's editing capabilities powered by AI take over to generate polished ads suitable for all platforms. This controlled yet authentic approach appeals to brands seeking consistent messaging without sacrificing UGC's relatability.
For creators, BeeRoll simplifies the workflow by delivering AI storyboard instructions directly through a mobile app. This lowers the barrier to entry, fostering more diversity in BeeRoll's creator pool. As audience preferences rapidly evolve, BeeRoll empowers continuous content iteration by using AI to quickly generate fresh storyboard concepts brands can test. One brand doubled conversion rates through optimized UGC developed on BeeRoll's platform. By combining AI with deep creator economy insights, BeeRoll aims to build a more innovative, data-driven ecosystem for impactful UGC marketing. The platform shapes an efficient future where authentic creator storytelling harmoniously blends with brand narratives through intelligent automation.
TikTok’s Parent Company Banks On Influencers To Popularize New Instagram-Like App In The U.S.
As U.S. lawmakers debate banning TikTok over national security concerns, its parent company ByteDance is paying influencers to drive adoption of its new Instagram-like app Lemon8 in the American market. Several top TikTok creators have disclosed being paid hundreds of dollars to post videos promoting Lemon8, an app blending features of Pinterest and Instagram for sharing lifestyle content. One influencer with over 360,000 TikTok followers said she is actively working with ByteDance to build her Lemon8 following.
The influencer marketing push comes as the House recently passed legislation that could force ByteDance to divest TikTok or face a nationwide ban on the wildly popular video platform. First launched in Asian markets in 2020, Lemon8 arrived in the U.S. last year and already claims over 4 million active American users. ByteDance is now tapping its army of U.S.-based TikTok creators to amplify Lemon8's growth. As scrutiny intensifies around TikTok's Chinese ownership, ByteDance is mirroring its successful influencer formula from TikTok's viral rise to establish Lemon8 as another major U.S. platform. Harnessing creator marketing appears central to ByteDance's strategy for expanding its stateside presence.
Court Bombshell: Meta Accused Of Illegally Wiretapping Rival For Competitive Edge
Unsealed court filings allege that Meta, the parent company of Facebook, implemented a secret "Project Ghostbusters" initiative beginning in 2016 to illegally wiretap and gather competitive intelligence on rivals like Snapchat. The filings claim Meta used its Onavo VPN app to intercept and monitor data traffic from Snapchat, YouTube, Amazon and others in a "man-in-the-middle" approach. Emails indicate CEO Mark Zuckerberg directly spearheaded efforts to gain insights into Snapchat's user data through the project.
Around 41 lawyers and senior executives were involved, though some raised ethical concerns internally over potential wiretapping violations. Meta ultimately shut down Onavo in 2019 after Apple removed it from the App Store. Prosecutors allege "Project Ghostbusters" violated U.S. wiretapping laws prohibiting intercepting electronic communications. They argue the data collection amounted to illegal spyware and claim it harmed competition in the ad market, bolstering antitrust claims against Meta's alleged social media monopoly. Meta has denied wrongdoing, calling the claims "baseless." However, the filings provide a glimpse into the company's alleged underground tactics to surveil competitors and maintain dominance through accessing proprietary analytics.
Why Amazon is bringing Twitch's most lucrative parts deeper into the Amazon Ads fold
A decade after acquiring Twitch for $1 billion, Amazon appears to be selectively integrating Twitch's most valuable assets into its broader business units while the core Twitch platform faces challenges. Twitch initially justified its price tag through its central gaming community, powerful livestreaming tech, and ability to serve ads at scale. However, Twitch's streaming infrastructure now lives under Amazon's Interactive Video Service (IVS) offering for third-parties. Twitch's advertising business has also shifted under the Amazon Ads umbrella in the past year, with brands and agencies working directly with Amazon Ads rather than Twitch for ad buying.
While controversial creator policies have threatened Twitch's community position recently, the platform remains hugely popular and culturally influential for reaching gamers. New CEO Dan Clancy has pushed initiatives to regain creator loyalty. However, Twitch's livestreaming tech and ad sales represented its most concrete revenue drivers, which Amazon has effectively absorbed into IVS and Amazon Ads respectively. This raises questions around the core Twitch brand's future value proposition for Amazon beyond its still-powerful cultural cache. By cherry-picking Twitch's technological assets and ad inventory, Amazon has extracted the streaming platform's most lucrative components while the flagship brand navigates an identity crossroads amid recent controversies.
This 20-Year-Old's Startup Aims To Disrupt How Brands And Influencers Collaborate And Get Paid
At just 20 years old, Elijah Khasabo is the co-founder of Vidovo - an ambitious startup looking to transform how brands and creators collaborate through user-generated content. Vidovo's two-sided platform allows creators to showcase their services while brands can directly connect with them or post paid campaign opportunities. Authentic representation is key, with creators submitting video intros for brands to assess fit.
The startup taps into the power of UGC to drive engagement and personal creator-audience connections that Khasabo believes traditional ads lack. Data also guides their roadmap as they aim to streamline the creative process. But Vidovo has even loftier goals - from developing advanced content monetization tools to potentially launching a creator training academy to nurture entrepreneurial talent. Despite his youth, Khasabo positions Vidovo as sparking a broader "empowered creative economy" movement amid the booming influencer marketing industry's rapid growth. The precocious founder leverages his unique GenZ digital fluency and perspective to boldly reimagine pathways between brands and creators. Whether Vidovo disrupts the space remains to be seen, but Khasabo's ambition is defying expectations.
Wondery’s Plans to Transform Podcasts
Wondery, one of the top podcast publishers owned by Amazon, is taking an innovative approach to marketing its shows in 2024. Under the leadership of marketing maestro Bladimiar Norman, the company is rolling out six major genre-based campaigns timed to key moments throughout the year. This includes a "Business" push during tax season, a "True Crime" experience around Halloween capitalizing on the rabid fandom, and a "History" initiative tied to the July 4th political season.
Sports is also a major focus area launching in September. Norman aims to create full franchises and immersive experiences around Wondery's hit podcasts like Dr. Death and SmartLess, applying strategies from his box office experience. Despite industry cutbacks, Norman is bullish on further growing podcasting's reach beyond frequent listeners. His goal is to make Wondery a household name by getting "everybody in the world listening" through accessible, genre-defying content and innovative audience engagement.
82% Of Gen Z Wants Full-Time Creator Careers – Here’s The Program Helping Them Succeed
Her Campus Media has unveiled "Certified Influence" - a free virtual training and certification program aimed at educating the next generation of creators and influencers. The multi-tiered curriculum covers key topics like industry guidelines, profile optimization, analytics, pricing, brand communications, and executing successful campaigns through interactive modules and quizzes. As creators complete each level, they earn priority for brand deal opportunities through Her Campus.
Those finishing the full program receive an official "Certified Content Creator" designation to showcase professional qualifications to brands. The program addresses Gen Z's overwhelming desire to pursue full-time creator careers, with 82% aspiring for this path based on Her Campus research. It provides much-needed standardized training as brands increasingly tap into influencer marketing. Her Campus CEO Stephanie Kaplan Lewis says Certified Influence will "create an industry standard" and allow brands to confidently collaborate with knowledgeable, authentic creators verified by the certification. Major brands like Clinique have already expressed interest, citing the program's mutual benefits for skilled creators and companies aiming to engage Gen Z effectively.
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Great Paywalled Content
BMW Seemed To Promise To Gift A Viral TikToker a New Car. Then They Went Silent. - WSJ
BMW appeared to promise a new car to viral TikTok star ReesaTeesa but failed to follow through, sparking backlash on the platform. ReesaTeesa, whose real name is Tareasa Johnson, gained over 600,000 followers sharing stories about her ex-husband's broken vows, including a promised BMW X5. Capitalizing on the viral moment, BMW's TikTok account posted a video claiming they were getting Johnson a dark blue X5 with cognac interior, replying "That's the plan" to comments. However, BMW then deleted the video and has not gifted Johnson the car despite her follow-up videos.
The misstep highlights the risks for brands trying to capitalize on fleeting social media trends without proper vetting. Consumers have inundated BMW's recent videos demanding they deliver on the car promise. In contrast, Stanley successfully gifted a TikToker a new car last year after her viral video, carefully handling logistics to avoid tax burdens. As more brands leverage influencer marketing's rapid pace, the BMW situation exemplifies the potential downfalls of overpromising or inconsistent messaging when trying to align with viral creators. Rigorous processes and oversight are needed to prevent such public marketing missteps.
Creators Are Still Cautious About Hosting Content on X - Insider
X (formerly Twitter) has been trying to lure more creators to host content on the platform through its ad-revenue sharing program. However, some creators remain hesitant due to concerns around X's ability to attract advertisers and unpredictable ad payouts, according to The Wall Street Journal. Despite MrBeast testing the ad program and earning over $250,000 for one video, many creators doubt X can provide sustainable income given the platform's struggling ad business.
Major advertisers have left over content moderation and brand safety worries, causing a 54% drop in 2023 ad revenue estimates. A survey found only 5% of over 450 creators planned to use X as their main platform in 2024. Some complained about missed or delayed ad payments recently. While X's creator program lead touted achievements like introducing payouts, creators want a clearer path to monetization on the platform. As the creator economy evolves, X faces an uphill battle convincing top talent to prioritize the platform amid advertiser departures and uncertainty around consistent ad revenue sharing. Providing a reliable, scalable monetization system remains key to attracting more creators. Copy Retry
Senator, Meet Your New Fierce Lobbyist: Your Own TikTok-Loving Teen - WSJ
As Congress debates cracking down on TikTok over national security concerns about its Chinese ownership, many lawmakers are facing fierce lobbying from an unexpected constituency - their own teenagers who avidly use the app. Numerous members of Congress recount their kids expressing worries about losing access to their favorite entertainment platform if TikTok is forced to divest from ByteDance or get banned entirely, as the House recently voted for. Teens are urging their lawmaker parents to reconsider through texts, dinner conversations, and even confronting friends about their stances.
Senators like John Fetterman have been directly lobbied by tween daughters concerned about being bullied if TikTok disappears. TikTok itself pushed its 170 million U.S. users to contact representatives earlier this month. For many teens accustomed to getting news and trends from the app's viral content and creators, the proposed actions against TikTok hit close to home. Though motivated by security risks, lawmakers acknowledge their Gen Z kids drive tough bargains defending the beloved platform. The heated family debates showcase TikTok's unrivaled resonance with American youth as its future ownership remains unresolved amid intensifying government scrutiny.
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