BLOG POST BY: Eliza Borrett

INDUSTRY ROUND UP #2: NFTS, BELLA POARCH’S MUSIC VIDEO DEBUT & SNAPCHAT’S CREATOR MARKETPLACE

This week in the Industry Round Up, we reveal the impact creators are having on the music industry, break down the latest platform updates and explore the latest news in the influencer podcast space.

HEADLINE NEWS FROM THE SOCIAL SPACE

An Update on NFTs

Non- fungible tokens (NFT’s), which are unique crypto assets that have been around since 2012, have become increasingly more popular as a way to trade artwork, meme images and more.

The iconic ‘Charlie bit me’ meme that went viral in 2007 is, on the 22nd of May, being removed from Youtube and being auctioned as an NFT. The disaster girl meme also recently sold as an NFT for $473,000. One of the top-selling NFT creators, called Beeple sold a digital painting for 69 million dollars and continues to create and sell digital artwork in exchange for the crypto assets. The 69 million dollar artwork is the third most expensive artwork ever sold by a living artist

This growing trend also paves the way for a new wave of influencer, as it infiltrates popular culture. We’ve already seen names such as Jake and Logan Paul enter the world of NFTs, and more creators are following suit.

NEWS FROM THE WORLD OF INFLUENCERS

Bella Poarch Makes Her Music Video Debut

TikTok star, Bella Poarch recently made her music video debut, with the song ‘Build a B*tch’. The creator has amassed a huge following across TikTok through lip-syncing videos, with her following currently sitting at over 68 million. At one point the creator was achieving 1 million new followers per day- making her one of the fastest-growing influencers on TikTok.

One day into the release of Bella’s music video, she received 25M views on YouTube, and over 42M three days in. At the time of writing this article, Bella’s music video sits at over 77 million views, quickly closing in on Dixie D’Amelio’s music video debut with the song ‘Be Happy”, which sits at 106 million views. Bella also came in at number 3 of the biggest 24-hour female debuts on YouTube in 2021. This is a continuation of influencers/creators finding mainstream success with music, which also include the likes of KSI, Corpse Husband, Dixie D’Amelio and Addison Rae

Bella Poarch’s music video was also #3 trending for music on YouTube. The music video also featured a range of creators such as Larray, Bretman Rock, ZHC and Valkyrae.

Addison Raes Rebrands Her Spotify Original Podcast 

TikTok star, Addison Rae who has found success as an actress and singer, has now rebranded her Spotify original podcast.

‘Mama Knows Best’ was the name of Addison’s podcast with her mother and TikToker, Sheri Nicole. However, the show will now be named, ‘That Was Fun?’ The podcast will also be available in a video format that features celebrity guests such as Kourtney Kardashian. 

Podcasts have become a popular format for influencers and creators. Some of the most popular podcasts on the charts are influencer-led. However, video podcasts formats have also become popular across YouTube, with the likes of ‘Views’ by David Dobrik, Logan Paul’s ‘Impaulsive’ and Ethan and Hila Klein’s ‘H3 Podcast’. Podcast are engaging social media users with longer-form content, in a time where short-form video formats are taking over with the likes of TikTok, YouTube Shorts and Instagram Reels.

WHAT IS HAPPENING WITH PLATFORMS?

Snapchat Announces Creator Marketplace

Snapchat has announced that it will soon be launching its very own Creator Marketplace to help bridge the gap between businesses and Snapchat creators. The marketplace will start off with AR and Lens creators, with Snapchat looking to eventually host all types of Snap creators in 2022.

A stated by Snapchat: 

“At launch, the Creator Marketplace will give businesses an opportunity to leverage the expertise of AR Creators in Snap’s Lens Network to build compelling AR experiences. Eventually, the Creator Marketplace will also offer the ability to reach our entire community of Creators and Snap Stars and partner with them on advertising campaigns and brand activations.”

Facebook’s Live-Stream Shopping Events 

Photo from: Facebook

Facebook has announced ‘Live Shopping Fridays’, which involves the platform hosting live-streamed shopping experiences with selected retailers. This is all part of an eCommerce push, allowing real-time discovery of products and the opportunity for consumers to ask questions and be answered within the stream. 

Purchasing is also made convenient through Facebook Shops, with brands taking part including Clinique, Abercrombie and Fitch and Sephora. Interestingly, TikTok has done something similar already with Walmart, and this format of live-stream shopping is popular on Chinese social media platforms.

Discord Testing Monetisation Feature

For any platform to have longevity in the social media space, it must offer opportunities for creators to monetise content. Enter Discord, which has announced its first monetisation feature.

Discord launched a live audio feature in March, and will soon enable users to sell tickets to broadcasts. Ticket sales are only currently available as part of an invite-only beta test.

In the past, users of the platform have been finding ways to monetise content on Discord through access to private servers by transactions on platforms like Patreon. However, Discord like other platforms is stepping up on new features and monetisation options, to ensure they don’t fall short with new players entering the market.

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Written by: Eliza Borrett

Insights Manager at The Goat Agency