Spotlight Stories |
Paramount Seeks Ultimate SpongeBob SquarePants Superfan For $4,000 TikTok Maestro Gig LinkedIn Just Tapped This Surprising Partner To Bring More Creators On Board TikTok To Lay Off Hundreds Of Employees, Scrapping Entire Global User Operations Team TikTok’s Hail Mary: Asking Court To Rule By December 6 To Avoid Potential App Shutdown
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Great Reads |
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A bidding war is brewing for TikTok, the popular short-video app, following the U.S. law that forces its Chinese parent company ByteDance to sell or face a ban within a year. Real estate billionaire Frank McCourt, former Treasury Secretary Steven Mnuchin, and former Activision CEO Bobby Kotick are among those assembling investor groups for potential bids. However, TikTok has made it clear it doesn't want to sell, and is fighting the law's legality in court. |
Even if ByteDance accepts an offer, a takeover won't be simple - the Chinese government may not allow the sale of TikTok's core algorithm, and recreating the technology could be a massive challenge. With TikTok potentially worth $100 billion, only the largest companies may have enough cash for an outright acquisition. The saga highlights the challenges creator economy businesses face navigating geopolitical tensions. |
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TikTok is experimenting with videos up to 60 minutes in length for a limited group of users in select markets. This move marks a significant departure from the app's traditional short-form video format. The company aims to provide creators with more flexibility to experiment with new types of content, such as cooking demos, educational tutorials, and comedic sketches. |
This development puts TikTok in direct competition with YouTube, which has long been the go-to platform for longer-form content. TikTok is testing features to enhance the viewing experience for long-form content, including a horizontal full-screen mode and video-scrubbing thumbnails. |
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456 Growth Agency is taking an unorthodox data-driven approach to capitalize on the booming creator economy. The firm has talent management and brand marketing divisions, representing over 100 influencers while executing campaigns for brands. |
CEO Dan Albert emphasizes extracting proprietary creator insights and testing new strategies before they go mainstream, like whitelisting influencers. 456 Growth also invests directly in creator economy startups and plans an affiliate marketing service as that revenue model grows. |
Transparency is key - the agency facilitates open data sharing between brands and creators to structure lucrative "hybrid" partnerships combining fixed fees and revenue shares. A major focus is nurturing creator-owned communities insulated from platform risks. |
Albert advises aspiring creators to embrace unconventional paths. For business leaders, 456 Growth's multifaceted model underscores the importance of comprehensive services, proprietary data analysis and strategic investments to stay ahead of rapid creator economy shifts. |
Campaign Insights |
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Paramount Pictures is seeking the ultimate SpongeBob SquarePants superfan to create short-form videos as a $4,000 TikTok consultant celebrating the iconic show's 25th anniversary. |
Through May 26th, applicants must post their "best SpongeBob-inspired video content" across TikTok, Instagram or YouTube using #LikeaSponge and #SpongeBob25 hashtags. |
The "meme-savvy maestro" hired should have 2+ years as a creator with proven audience engagement success. Responsibilities include pitching original stories, producing videos with Paramount feedback, and potentially traveling. |
Benefits include tickets to the Kids Choice Awards and related events in July when the contract begins. Paramount seeks experience with platforms, video editing, writing, multitasking and active social media presence. |
The gig highlights how legacy media giants now court top digital creators for audience-tailored content amplifying major franchises and tent-pole releases. For skilled meme-makers, brand opportunities abound at the intersection of internet culture and mainstream entertainment. |
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The UK's ad watchdog ASA has cracked down on influencer Grace Beverley for posts promoting her own clothing line Tala that were not properly disclosed as ads. Six Instagram and TikTok posts featuring Beverley describing and wearing Tala products were deemed to lack clear commercial intent identifiers upfront. |
Tala argued Beverley was so synonymous with the brand that disclosure was unnecessary, but the ASA cited codes requiring marketing communications be "obviously identifiable" as ads. The posts cannot be used again without prominent #ad or similar ad disclosures added. |
The ruling sets a precedent for the regulator's transparency expectations around creators marketing their own products and brands on social media. It signals increased scrutiny on influencers to comply with ad labeling requirements, even when promoting entities directly tied to their personal brand. |
This clampdown aims to draw clearer lines around undisclosed sponsored content across influencer marketing on social platforms. |
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A new phenomenon called "Blockout2024" is seeing Gen Z TikTokers unfollowing and blocking celebrities and influencers en masse. Started by a user lamenting influencer excess at the Met Gala while ignoring global crises, the movement aims to deprive influencers of ad revenue earned from follower engagement. |
Early targets like Kim Kardashian and Taylor Swift have already lost hundreds of thousands of followers, significantly impacting their earning potential. The boycott ladders up demands, with some now pressuring wealthy stars to donate to causes like relief efforts in Gaza. |
For TikTok's young audience, massively built-in followings represent power structures they can leverage for social change by collectively withdrawing attention. The decentralized campaign demonstrates Gen Z's unique grasp of digitally-native tactics to hold influencers accountable. |
The "Influencers Against Influencers" trend signals how adeptly this cohort understands attention economics as a bargaining chip - a perhaps unexpected new frontier for modern activism. |
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LinkedIn has partnered with creator marketing agency Whalar Group to pair brands with influencers for campaigns on the professional networking site. Through the new agreement, Whalar will match brands with creators to develop LinkedIn content utilizing the platform's technology and AI tools. |
The partnership comes as public content sharing on LinkedIn grew 24% year-over-year in 2023, with over 472 million newsletter subscriptions. While fewer creators currently leverage LinkedIn compared to other social media, the platform provides targeted reach to grow their professional brands and industry connections. |
Whalar's role is to educate creators on effectively using LinkedIn, not making it an entertainment destination. Creator compensation rates may start relatively lower due to initial demand, but could increase as more brands invest based on performance data. |
Interesting People |
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After years in corporate supply chain roles, Rabia Bhatty has rapidly become an influential voice championing modest fashion through her 20,000+ follower Instagram. What started as modeling shots for a friend's portfolio in 2022 evolved into a flourishing fashion and lifestyle account. |
Bhatty prioritizes authentic community engagement, using tactics like Q&As to understand her audience's preferences. This approach has organically attracted brand partnerships aligned with her layered, covered-up aesthetic rejecting hypersexualized fast fashion trends. |
Joining an influencer talent agency last year unlocked further opportunities like collaborating with PrettyLittleThing. Looking ahead, Bhatty aims to strategically amplify her multi-platform presence advocating modest dressing as stylish and confident. Long-term goals include launching her own clothing line. |
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WME Sports operates as a subsidiary of Endeavor, a conglomerate owning stakes in entertainment properties like the UFC and WWE. As CEO, Ari Emanuel heads the company that expressed interest in negotiating a deal with the PGA Tour in September before the Tour secured a $1.5 billion investment from Strategic Sports Group. |
Spiranac has amassed over 4.6 million followers across platforms with golf instruction, commentary, and live streams. Her social media reach exceeds that of Tiger Woods. |
“I’m joining WME Sports to strengthen the digital bridges with my fans,” Spiranac said for SB Nation. “We’re going to create new experiences.” |
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YouTube star Jimmy 'MrBeast' Donaldson has challenged Bhushan Kumar, CEO of India's T-Series, to a boxing match. MrBeast made the bold offer on social media, citing the narrowing gap in their subscriber counts on YouTube. The proposed bout has sparked excitement among fans, with many calling it 'Sub War Time Baby.' |
MrBeast, who has been recovering from being "obese" after sharing his 10-month fitness regimen, is keen on stepping into the ring. Kumar, however, has yet to respond. This high-stakes showdown marks a new chapter in the escalating rivalry between MrBeast and T-Series, which has roots in the 2019 PewDiePie vs. T-Series campaign. Will this intense challenge lead to a thrilling bout or remain a publicity stunt? Only time will tell. |
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China is cracking down on social media accounts promoting lavish lifestyles in an effort to curb “wealth worship” and promote social equality, impacting several high-profile luxury influencers, as state-owned media outlet The Cover reports. |
On Tuesday, Chinese authorities closed the social media accounts of Wang Hongquanxin, Baoyu Jiajie, and Bo Gongzi across platforms like Douyin, Xiaohongshu, and Weibo. Their profiles, which collectively had millions of followers, became unsearchable. |
Wang Hongquanxin is a Beijing influencer known for flaunting a collection of rare Hermes bags and jade jewelry. Baoyu Jiajie, meaning “Abalone Sister,” hails from a wealthy Hong Kong family running a luxury dried goods chain. Bo Gongzi frequently posted about owning expensive Hermes and Dior pieces. |
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Industry News |
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Nicky Gathrite, a former college football player, has transformed his life from a full-ride scholarship to a successful career in influencer marketing. After an ACL tear derailed his professional football dreams, Gathrite pivoted to financial advising, leveraging social media skills to build a network. He co-founded Unruly Agency with Tara Electra, securing major brands as clients.
Gathrite later founded Elevate Agency, focusing on sports and entertainment management. His mission is to empower creators to build sustainable personal brands. He predicts trends like short-term videos and TikToks will dominate the influencer space. Gathrite's insights highlight the importance of authentic content, alignment between creativity and brand objectives, and continuous learning. |
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A new report from EMARKETER reveals that social media creators are increasingly bypassing brands to monetize their followings directly. The report forecasts U.S. creators will generate $13.69 billion in 2024, with direct audience monetization tactics like tipping, subscriptions, and merchandising making up a growing share. Tipping, for example, is expected to generate $160 million in 2024, while subscription revenues will reach $270 million. The shift towards direct-to-fan monetization is driven by creators seeking self-sufficiency and building their own businesses. However, sponsored content and brand partnerships will remain the dominant income source in 2024, accounting for 91% of forecast U.S. creator revenues. |
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TikTok is laying off hundreds of employees across multiple departments like operations, content, and marketing globally. The layoffs will be announced Wednesday night or Thursday morning, according to reports. |
In a major move, TikTok plans to completely dismantle its entire global user operations team, reassigning those not terminated to other roles. The exact number being laid off is still unknown. |
This follows earlier rounds of smaller layoffs at TikTok earlier this year, though large-scale job cuts have been relatively rare for the social video platform compared to other tech firms. As of 2023, TikTok employed around 7,000 people in the U.S. alone where it reported $16 billion in revenue last year. |
The layoffs appear to be a cost-cutting measure and restructuring effort, despite TikTok's continued growth and monetization success. It signals turbulence even for one of the tech world's biggest consumer hits amid economic headwinds. |
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Over 10 artists including Sarah Andersen and Kelly McKernan are suing online art platform DeviantArt and AI firms like Stability AI and Midjourney. The federal lawsuit alleges DeviantArt improperly scraped and used millions of user-uploaded artworks to train generative AI image models without consent when launching its "DreamUp" tool. |
Despite initially stating user art would be excluded from AI training datasets, DeviantArt later admitted certain works were used, violating copyright according to plaintiffs. The suit provides evidence that AI tools can closely mimic unique artworks, potentially depriving human creators of income opportunities. |
The case aims to examine artist rights and ownership as AI proliferates across creative industries. It adds to growing legal scrutiny over AI companies' controversial data collection practices from creators across different media forms. |
With a judge indicating copyright claims will likely proceed, the lawsuit could shape how user-generated content platforms and AI firms properly obtain permissions and compensate artists when using their works to develop generative AI. |
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TikTok and its parent company ByteDance are joining forces with the U.S. Justice Department in an urgent legal bid to resolve the platform’s future before a looming national security deadline, Reuters reports. |
On Friday, the parties asked the U.S. Court of Appeals for the District of Columbia to rule by December 6 on challenges to a new law requiring ByteDance to divest TikTok’s U.S. assets by January 19 or face a potential ban. This accelerated schedule would allow them to seek Supreme Court review if needed ahead of the January cutoff. |
The law prohibits app stores and internet hosts from offering TikTok unless ByteDance sells off the wildly popular app, which boasts 170 million American users. A group of TikTok content creators filed suit this week, claiming the law would have “a profound effect on American life,” Reuters reports. |
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Founder and Creative Director Lukas Schulz shares his insights on influencer marketing, emphasizing the importance of authenticity and transparency. Schulz advises brands to give creators freedom, saying "Let the creators be the creators." He highlights the need for clear communication between creators and brands, stressing the importance of honesty and open discussion. |
Schulz also emphasizes the importance of community and networking for entrepreneurial success, urging entrepreneurs to find their "why" and build supportive networks around them. As founder of STMNT Studios, Schulz has built a thriving video production company leveraging his passion for storytelling and his leadership skills. |
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Linnea Toney, partner at influencer management firm Underscore Talent, believes prioritizing authenticity and social good initiatives is crucial for creators to build lasting audience connections. |
Toney says audiences crave a sense of purpose from influencers beyond just racking up engagements. She advises creators to blend success with philanthropic work aligned to their genuine values, citing examples like therapist Kati Morton destigmatizing mental health. |
Partnering with organizations in shared cause areas allows creators to expand reach by tapping new audiences. It's a win-win, as platforms increasingly facilitate these creator-nonprofit ties to raise awareness. |
While brand deals require balancing social impact with profitability, Toney emphasizes staying consistently true to one's core identity and mission. Aspiring influencers should start by defining intentions and the causes most impactful to them personally. |
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Veteran digital media executive Mike Jensen is taking a boutique approach to the creator economy with his startup Rhapsody Voices. The platform curates a selective roster of podcasts to facilitate authentic partnerships between creators and sponsors. Jensen emphasizes close collaboration, helping with production, sponsor curation, even audio and video assistance to empower creator voices. |
Rhapsody focuses on tapping passionate niche audiences like their "surfer network" of culturally engaged surf enthusiasts. By catering to underserved interests, Jensen believes they can forge more resonant creator-brand connections. The company prioritizes creator input, monitoring metrics to nimbly adapt offerings. |
While praising the podcast boom, Jensen advocates for greater industry alignment around consistent best practices for creator compensation and partnerships. He calls for an independent body to establish standards across major platforms. For business leaders in the ebullient creator economy, Rhapsody exemplifies prioritizing authenticity over scale through meticulous content curation. |
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Hong Kong bankers are moonlighting as influencers on Chinese social media app Xiaohongshu amid a deal drought. Junior bankers are gaining thousands of followers by livestreaming career advice, parodying "finance bro" stereotypes, or simply discussing their daily lives. While surprising given finance's compliance rules, the incentive is the ability to earn advertising revenue based on follower counts. |
An investment banker with 43,000 Xiaohongshu followers live-streamed for hours on topics like work outfits and networking tips. A private equity professional with over 10,000 followers says three types of finance influencers have emerged - career advisors, finance culture satirists, and daily life vloggers. |
The trend highlights how bankers are finding creative side hustles during Hong Kong's M&A slowdown. As one remarked, "Who couldn't use some extra income until deals pick up?" The influencer economy presents new monetization avenues for those with downtime. |
