Cornering the Creator Market
2020 was the year platforms woke up to the fact that creators are currency.
Build Up or Shut Up
Just this week, Amazon acquired one of the largest podcast publishers out there, Wondery, for $300 million in a bid to build up its Amazon Music service. Last year, Spotify followed up its Gimlet acquisition with deals from the likes of Joe Rogan to the Obamas.
But it wasn't just a podcasting creator land grab. Instagram launched Reels, a TikTok knockoff, just as TikTok was facing a potential ban from the United States. Content creators fearing the worst dabbled with Instagram. Some even stayed. Not to be outdone, TikTok launched a Creator Fund to share revenue with content creators based on content engagement. Many creators aren't placing their bets with either. They're cross-posting to both, but eventually one will win out.
Then there's gaming. The exodus of of Mixer from the market led Twitch to eventually host 91% of streaming content. The 800 pound gorilla in streaming became a 1,600 pound gorilla. Now, we watch to see if anyone can chip away at its dominant share.
Creators = The Platform Canary in the Coal Mine
The turf war of 2020 for digital platforms was all about alluring as many content creators as possible. Platforms can't get the revenue without the eyeballs, and they're realizing they can't get the eyeballs without the creators.
Creators aren't unaware of this. They're cashing in, securing the best deals they can and even fueling the rise of fan-funded sites like Patreon, which saw a 70,000-strong surge in creators in 2020.
Marketers face potentially more unknowns going into 2021 than they ever have before. The trick to knowing what to do is knowing where to look. There's a good reason platforms have been courting creators. They bring the users.
Brands that follow the creators their audiences care about will find their audiences. Be on the platforms the creators are. Audiences aren't loyal to TikTok, YouTube or Instagram. They're loyal to the creators that use those platforms, and if they migrate, their fanbases will too.
It's been said content is king. Well, if that's true, creators are gods. Seek them to find your audience.