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Bluesky, a post-Twitter app, officially reached 1 million users!

Quick updates

Stay up-to-date with socials.

• 🔗Link: TikTok officially launched TikTok Shop in the U.S., after testing it for nearly a year.
• 🔗Link: OneOf, a Web3 company, launched Creator Mint's beta for users to mint and sell NFT digital collectibles, with up to 10% earnings on resales.
• 🔗Link: Impact.com acquires SaaSquatch, enabling creators to reward loyal followers through the platform. 
• 🔗Link: X is reportedly throttling links to certain publications.
• 🔗Link: YouTube launches test of new vertical live stream presentation format.
• 🔗Link: Roblox is launching avatar-based voice calls with facial motion tracking.
• 🔗Link: Creator merch company Spring has been hit with 7 lawsuits this year.

Platforms

What's impacting creators and builders...

Influencer marketing is now a major consideration within most digital marketing plans. But did you know that influencer marketing spend is actually growing faster than investment into regular social ad spending? 

That’s one of the many findings in Insider Intelligence’s latest influencer industry report, which looks at the key trends that are driving influencer marketing investment, and what brands need to factor into their ad plans. 🔗Read more

According to a recent report from Stripe, the education sector within the creator economy has been experiencing remarkable growth, with a whopping 120% increase in revenue over the past two years.

Platforms such asTeachable have empowered creators to earn up to $10,000 per month.

Taking a broader view, the online course market is poised to surpass $319 billion by 2029. A case in point is Tori Dunlap, the finance educator and creator of "Her First 100k," who achieved $4 million in revenue last year through a combination of courses, merchandise, and sponsorships.

Dunlap's guiding principle? "Serve before you sell." Rather than launching a product and hoping to build a community around it, focus on delivering substantial value, building trust, and then introducing your offerings to an already engaged audience. 🔗Read more

TikTok has expanded its Creativity Program, a funding initiative aimed at compensating its top content creators, beyond the United States to include users in Brazil, France, Germany, Japan, Korea, and the U.K. This initiative offers increased earnings potential, encouraging creators to produce longer and higher-quality videos, and serves as TikTok's strategy to retain top talent amidst growing competition from platforms like YouTube and Facebook that provide more direct revenue streams for creators. 🔗Read more

Explorers

Delving deeper into the creator economy.

In the rapidly evolving world of the creator economy, TikTok continues to redefine the path to stardom for aspiring musicians. A decade ago, artists relied on talent shows like X Factor or America's Got Talent, but TikTok's viral potential has changed the game. Artists like Flyana Boss and Ice Spice have skyrocketed to fame as their songs became the soundtrack of viral videos. 

Even lesser-known creators, such as UK-based singer James Sharp, are leveraging their social followings for paid gigs, showcasing the power of platforms like TikTok in democratizing music promotion. While TikTok's foray into music distribution via SoundOn and its recent launch of TikTok Shop in the U.S. indicate its ambitions, the long-term success of these endeavors remains uncertain, especially amid recent layoffs in the music department. 🔗Dig deeper

Creator Corner

The latest creator deals and news.

• Olivia Rodrigo releases ‘get him back!’ video, filmed on iPhone 15 Pro.
• TikTokers like Kait Montalvan and Rocio Castro-Videla are creating "Get Ready With Me" videos in Spanish as a way to reconnect with their roots and language, addressing the challenges faced by first-generation Latin Americans in maintaining their native language and culture in the US.
  
• ESPN is launching "The Pat McAfee Show" this Thursday, featuring YouTuber Pat McAfee, with a five-year, $85+ million licensing deal.
  

What We're Reading

Interesting industry reads.

• 🔗Bustle: When your favorite influencer becomes your vacation buddy.
• 🔗SMT: YouTube shares new stats on the growth of retro gaming-themed content.

Written by Hubert Trinkunas and Rosa Cecilia

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