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Byte Outlines Initial Payment Process for Creators, With $250k Allocated to Payments

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One of the key elements that eventually lead to the demise of short-form video app Vine was its inability to offer revenue-generation tools for top creators.

As goes the story, a group of Vine’s top creators, who had seen other Vine makers migrating to YouTube and Instagram to make money, met with Vine management in 2016 and called on the company to formulate a better revenue-sharing process, or see them abandon the platform, taking their audiences with them. Vine, and parent company Twitter, were unable to come up with a workable alternative, so the creators left, in what eventually proved to be the final blow for the app.

Vine co-founder Dom Hoffman is well aware of this concern, which is why when Hoffman announced the launch of Byte last month, his successor to Vine, Hoffman specifically noted that, from the get-go, Byte would invest in its creators, and ensure that they get paid – even if it had to dip into its own funding to make it happen.

Byte

And now, Hoffman is indeed following through on that promise.

As reported by The Verge, Byte plans to start its creator payment program in April, with $250,000 in payments on offer for top creators.

As per The Verge:

“The program will be fairly limited at first. Only up to 100 creators will be included, and they’ll have to apply and be chosen by Byte. Byte says it’s looking for people who regularly post, make full-screen portrait videos, and are positive members of the community. Byte will pay partners every 30 days based on their viewership. Creators will be put into “Viewership Brackets,” and everyone in the same bracket will be paid the same amount. The company didn’t provide specifics on how much creators can expect to make.”

That’s an ambitious program indeed – essentially, Byte will be paying out $250k of its own seed money direct to creators. Eventually, Byte will be hoping to fund this process through ad revenue – Byte has previously noted that its long-term plan is to have the majority of its revenue going to creators. It’s starting with 100% of any ad intake feeding into the creator payments program – but right now, with limited ad revenue, Byte is essentially adding top creators to its payroll, which means the company is all outgoing and no incoming, at least for the foreseeable future.

The program is particularly ambitious because thus far no platform has been able to successfully monetize short-form content. TikTok, for example, reportedly generated $176.9 million in revenue in 2019, but $122.9 of that came from China, where the Chinese version of the app, Douyin, is well-known for its eCommerce and in-app shopping integrations. In the US, TikTok reportedly generated $36 million for the year, while the UK came in third at $4.2 million. That’s not chump change, of course, but TikTok was also reportedly spending up to $3 million per day on ads in the US market in order to maximize its presence.

Given the massive public awareness push, it’s hard to tell how much TikTok’s ad revenue was driven by usage, and brands seeing it as a viable way to reach their target audiences, and how much it was boosted by artificial hype. Eventually, TikTok will need to dial down their ad spending, otherwise the costs won’t offset the gains, and only then will we truly know how many people are using TikTok regularly, and how well its ad options are performing, in regards to driving consumer action.

Part of the challenge here is that short video clips don’t enable much space for ad placement. On TikTok, as with Vine before it, ads are being slotted in between regular clips, which enables users to easily swipe on past them, without giving them a look. On longer videos, users are more inclined to sit through ad content, in order to view the clip in full, but with videos that lost only seconds, generating optimal ad engagement is a tough sell.

That’s why TikTok is looking to fuel its own influencer marketplace, helping brands connect with top platform creators to maximize their messaging. Byte will likely need to look to the same – but even so, the viability of such a program is relative to overall usage. If Byte can’t attract a critical influx of active, repeat users, advertisers just won’t care. 

Can Byte do it? Do people really miss Vine so much that they’ll be keen to switch across from Instagram and TikTok to the new app?

It’s a significant gamble, an “all-in” strategy which will eventually make or break the app. 

It’ll be interesting to see how it plays out.

Socialmediatoday.com

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4 new social media features you need to know about this week

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New social media features to know this week


Social media never stands still. Every week there are new features — and it’s hard for the busy comms pro to stay up-to-date on it all.

We’ve got you covered.

Here’s what you need to know about this week.

LinkedIn

Social media sleuth Matt Navarra reported on Twitter that LinkedIn will soon make the newsletters you subscribe to through the site visible to other users.

This should aid newsletter discovery by adding in an element of social proof: if it’s good enough for this person I like and respect, it’s good enough for me. It also might be anopportunity to get your toe in the water with LinkedIn’s newsletter features.

Instagram

After admitting they went a little crazy on Reels and ignored their bread and butter of photographs, Instagram continues to refine its platform and algorithm. Although there were big changes over the last few weeks, these newer changes are subtler but still significant.

 

 

First, the animated avatars will be more prominent on profiles. Users can now choose to flip between the cartoony, waving avatar and their more traditional profile picture, rather than picking one or the other, TechCrunch reported, seemingly part of a push to incorporate metaverse-esque elements into the app.

Instagram also appears to have added an option to include a lead form on business profiles. We say “appears” because, as Social Media Today reports, the feature is not yet listed as an official feature, though it has rolled out broadly.

The feature will allow businesses to use standard forms or customize their own, including multiple choice questions or short answer.

Twitter

In the chaotic world of Twitter updates, this week is fairly staid — with a useful feature for advertisers.

The platform will roll out the ability to promote tweets among search results. As Twitter’s announcement points out, someone actively searching for a term could signal stronger intent than someone merely passively scrolling a feed.

Which of these new features are you most interested in? That LinkedIn newsletter tool could be great for spreading the word — and for discovering new reads.

Allison Carter is executive editor of PR Daily. Follow her on Twitter or LinkedIn.

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Twitter Tests Expanded Emoji Reaction Options in DMs

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Twitter Tests Expanded Emoji Reaction Options in DMs

Twitter’s looking to give users a broader set of emoji reactions for their DMs, while also, potentially, enabling personalization of your quick reactions display in the app.

As you can see in these mock-ups, shared by Twitter designer Andrea Conway, Twitter’s testing a new search option within the reaction pop-up in DMs which would enable you to use any other emoji as a reaction to a message.

An extension of this would also be the capacity to update the reactions that are immediately displayed to whatever you choose.

Twitter DM reactions

It’s not a game-changer by any means, but it could provide more ways to interact via DMs, and with more interactions switching to messaging, and more private exchanges, it could be a way for Twitter to better lean into this trend, and facilitate a broader array of response options in-stream.

Twitter’s working on a range of updates as it looks to drive more engagement and usage, including tweet view counts, updated Bookmarks, a new ‘For You’ algorithm, and more. Elon Musk has said that he can envision Twitter reaching a billion users per month by next year, but for that to happen, the platform needs to update its systems to show people more of what they like, and keep them coming back – which is what all of these smaller updates, ideally, build to in a broader approach.

But that’s a pretty steep hill to climb.

Last week, Twitter reported that it’s now up to 253 million daily active users, an increase on the 238 million that it reported in July last year. Daily and monthly active usage is not directly comparable, of course, but when Twitter was reporting monthly actives, its peak was around 330 million, back in 2019.

Twitter MAU chart

As noted in the chart, Twitter switched from reporting monthly active users to daily actives in 2019, but looking at the two measurements, it’s hard to imagine that Twitter’s monthly active usage is any more than 100m over its current DAU stats.

That means that Twitter has likely never reached more than 350 million active users – yet Musk believes that he can best that by close to 200% in a matter of months.

Seems unlikely – even at current growth rates since Musk took over at the app, Twitter would only be looking at around 500 million users, optimistically, by the end of 2024.

If it can maintain that. More recent insight from Twitter has suggested that user activity has declined since those early post-Musk purchase highs – but maybe, through a range of updates and tweaks, there could be a way for Musk and Co. to maximize usage growth, beyond what seems possible, based on the stats.

We’ll find out, and as it pushes for that next level, you can expect to see more updates and tweaks like this, with enhanced engagement in mind.  



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Tarte Influencer Marketing Criticized 01/31/2023

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Tarte Influencer Marketing Criticized 01/31/2023

With consumers obsessed over the price of a dozen eggs, could conspicuous consumption-driven influencer marketing falling out of favor? That is the question brands might be considering after the
backlash that cosmetics brand Tarte is receiving after a sponsored trip to Dubai. “Influencers were called out for appearing not …

Read the whole story at Marketing Brew »



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