I’ve been soaking on the ideas around ‘creator compensation’. It is an interesting time as the major platforms such as Facebook, YouTube, Twitch, Twitter, etc. are all evaluating how to better compensate the creators (while still maintaining plenty of profit for themselves).
One interesting development is the consolidation of the concept of crypto and the compensation of individual creators.
From a media company perspective, they don’t want creators to be using multiple platforms as the valuable content will be dispersed to multiple platforms. That makes sense from the company’s perspective, but not from the perspective of the creator.
A creator needs the freedom and flexibility to use whatever platform feels right for the various type of content they want to create. It may not make sense to use Facebook to distribute all the creator’s video, podcasts, newsletters or whatever else. It makes more sense to a creator to use a variety of platforms to deliver the appropriate medium.
The concept of ‘Creator Coin’ provides a direct line of compensation to the creator regardless of platform.
Several companies (such as Rally) are popping up to introduce creator coins where creator can have their own currency which enables compensation that can be used across platforms. This represents much more of a ‘creator first’ mentality.
I think it’s a great idea. There is a lot of potential for the creator to adopt this in their content to avoid reliance (and control) from the major platforms.
I plan to continue watching this space as it will be interesting to see the evolution and consider how it should / should-not be adopted by brands that act as content creators in their own right.