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Below are a few key excerpts on these themes, and link to full briefing below. Also linked below is a post I did last year about 6 ways to make money as media, advertising, and management consulting all converge. Because it's rarely just about content if you're moving your career in this direction. The content you post (whatever type of content it is and wherever you put it) might make some money, but the reliable money comes from a combination of these other 6 areas. Comment below or reach out with your thoughts on the matter.
...Yet something in this model is changing. Though there is more content than ever, platforms are competing harder than ever to get it.
Newer types of media are joining in. Douyu and Huya, China's largest game-streaming platforms, each paid out 7.1bn yuan ($1.1bn) to streamers last year, 31% more than in 2019. Spotify and Apple, the two biggest podcast platforms, are wooing amateur broadcasters. Last month Apple announced that it would let podcasters charge subscription fees, of which it would take a 30% cut for the first year, then dropping to 15%; days later Spotify followed suit-but said creators could keep the lot (from 2023 it will take 5%).
As platforms fight over the most popular content, bargaining power is being transferred to the people who make it.
The share of revenue that creators can earn seems to depend on how easily they could leave. Moving one's email list away from Substack is simple, so the firm lets writers keep 90% of their revenues. Game-makers on Roblox, who are basically stuck there, keep about 25%.
The dancers of TikTok and pranksters of YouTube, whose popularity rises or falls on the tweak of a recommendation algorithm, may seem easily replaceable. In reality, the opportunities for interaction with online stars may make their audiences more loyal than those of other celebrities.
...Spotify says it wants to give "a million creative artists the opportunity to live off their art". But only about 0.2% of the 7m-plus musicians on the platform make more than $50,000 a year in royalties; just 3% make more than $1,000. There are 20m gaming "experiences" on Roblox, but nearly 15% of all play takes place on one game, "Brookhaven rp", according to analysis by Ran Mo of Electronic Arts, a game developer. On Patreon, where people can subscribe to creative services of all sorts, 200,000 creators earn a total of $1bn a year. The top earner makes around $2m, but about 98% make less than the federal minimum wage of $1,257 a month.
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