April 13, 2021: Happy Tuesday! We know, not as exciting as Friday. But don’t worry, we have some exciting influencer marketing news to get you through the week.
In today’s edition:
- Clubhouse continues to lean into creator monetization
- TikTok is doing it all… per usual
- Pinterest makes some exciting updates (4 for YOU, Pinterest. You go, Pinterest!)
Clubhouse Adds Direct Payments for Creators
Clubhouse launched payments for creators in the first of many updates to provide monetization for creators.
Like a virtual tip jar?
Exactly. Users can now send a payment in Clubhouse by going to the profile of the creator to whom they want to give money. If the creator has this feature enabled, users can click “Send Money” on the creator’s profile and enter the desired amount.
The best part? 100% of the payment will go to the creator. The person sending the money will be charged a small processing fee that will go to Stripe (the payment processing partner), but that’s it. Clubhouse will take nothing. CEO of Stripe, Patrick Collison, tweeted “It’s cool to see a new social platform focus first on *participant* income rather than internalized monetization / advertising.” This news came right before reports claiming that personal user data on the platform had been leaked. That doesn’t sound good…
It was love at first sound…
Due to the pandemic, there has been an increase in virtual dating that has led to people finding love through Clubhouse. Yes, you read that right. With no direct-messaging feature, people are meeting the old fashion way – through talking.
Bring on the copycats…
Platforms copying Clubhouse?! Shocker!
Facebook’s New Product Experimentation team has launched Hotline, a web-based platform that is basically Clubhouse but with more visual and text tools, including optional video streaming options. A twist to this platform is that hosts will receive recordings of the rooms after they finish. And there’s more… Reddit is also reportedly working on their own audio social platform that would provide audio rooms within subreddits.
Copycats, hear you loud and clear.
Huge kudos to Clubhouse for their creator-centric approach giving users 100% of the payments they receive. Other platforms need a cut from creators’ profits to grow: Cameo takes 25% of each video sold on the platform and OnlyFans is projecting $1 billion in revenue this year (partially from the percentage they get from creator content). Instead of introducing native advertising units, Clubhouse is viewing the creators themselves as advertising because brands will work with these creators for sponsorships.
We continue to see apps inspired by TikTok to take steps to favor the creator experience. While some apps choose to focus on making it easier for creators to make content (we see you Instagram), other apps choose to prioritize creator monetization efforts (think: TikTok and Clubhouse). At the end of the day, you can’t have one without the other and it’s only a matter of time before platforms that don’t put creators first won’t survive.
TikTok’s Newest Updates, Partners, Features, and Tools
TikTok is providing countless new features, gaining two new partners, and continues to be the platform consistently putting creators first.
Auto-captions for all
TikTok has added an auto-caption feature to the platform which will automatically generate subtitles, allowing users to either read or listen to content. This feature not only allows the app to be accessible to hard-of-hearing users, but also those who want to take part in sound-off viewing.
Two (partners) is better than one
TikTok has partnered with IPG Mediabrands to create a “first-of-its-kind creator and content accelerator initiative.” The two companies plan to create a series of programs for IPG Mediabrand’s clients that will not only provide them with access to TikTok’s variety of creators, but also tools to create a presence on TikTok.
TikTok has also partnered with Liveramp, the leading data connectivity platform. This integration will allow for brands advertising on TikTok to use Liveramp’s audience integration tools to target customers within the U.S. with a “privacy-first” focus.
But wait, there’s more!
TikTok has also introduced immersive music creative effects that will provide six unique ways to create visual aids to music. These are the first music creative effects being added to the platform and are available globally. All of the effects run in real-time and use beat tracking technology to animate images and landscapes that will move to the beat of the chosen song.
It’s extremely clear why TikTok continues to reign supreme in terms of innovation. Update after update, TikTok continues to do whatever they can to provide their creators and advertisers with all that they need to succeed on the platform.
Not Unrelated: Pinterest Puts Focus on Creators
Pinterest is launching its first-ever creator fund to allocate money to support the platform’s creators. The first group benefitting from this fund will be diverse creators from underrepresented communities in need of financial and educational support.
The ‘Creator Code’ initiative, aims to encourage positive interaction on the platform and mitigate negativity. This will be a mandatory set of guidelines within the platform that aim to educate users as well as build community around making inclusive and compassionate content.
And you’re telling me VSCO girls are back?
Not quite. VSCO, an editing and photo/video sharing app, is looking to expand their business. The 10-year-old startup was last valued at $550 million. Both Pinterest and VSCO are in the category of tech companies that are more focused on imagery and visual editing than they are on social networking features. The acquisition of VSCO, a buzzy brand with a younger audience, could allow Pinterst to tap into a new audience and also further enhance the use of digital images on their site.
Pinterest is a discovery social network that you go on to get niche inspiration (think: weddings, home renovation, crafts, outfit inspo, etc.). As mentioned above, the acquisition of VSCO could bring a younger audience to the platform and shift from the traditional use of Pinterest.
We’re not going to lie… Pinterest acquiring VSCO seems a little odd. If Instagram was in talks to acquire VSCO and all of it’s photo editing capabilities, that would be a much more obvious match. If Pinterest does acquire the photo editing app, we hope that it will bridge the gap for influencers who might be repurposing their content across channels. Many influencers are already linking to their Pinterest accounts on various platforms, so this VSCO integration could open the door to a form of content creation on Pinterest.