Creator Economy Scoop: Coachella collabs and the Taylor Swift treatment
The Creator Economy Scoop is a roundup of the weekly news, data and trends that are defining the industry. (graphic by Lindsay Hill)
Twitch is mimicking TikTok, Taylor Swift bypasses the UMG-TikTok battle and creators at Coachella gave brands major elevation. Here’s the rest of this week’s scoop:
Quick numbers 💯
92% - Nearly all (92%) of US adults believe that offering low prices is the most important brand priority, according to a survey [eMarketer]
$8.14 million - US marketers will spend $8.14 million on social media sponsored content this year, marking 16.0% growth YoY [2]
$9.29 billion - spend will rise next year to $9.29 billion, growth is slowing, as marketers spend more carefully with larger creators with whom they can establish long-term relationships [3]
44% of US advertisers expect to increase their investment in creator content in 2024 [4]
6.9% - US Beauty sales to grow 6.9% in 2024 [5]
What you should know ☕
Twitch is bringing its TikTok-style feed to everyone this month
- Twitch announced the new feed that will let you scroll through separate feeds dedicated to clips and current live streams
Meta announces Smart Screen Series
- A new series across the U.S. to help parents manage their child’s screen time and manage potential risks of online exposure
Taylor Swift gets custom collab with TikTok as UMG battle continues
- TikTok launched a new hub to promote Taylor Swift’s new album
- Users can earn in-app rewards for completing certain tasks, like following Swift’s account on the platform
Elon Musk is considering bringing back Vine
- Musk polled his followers and 70% voted in favor of bringing Vine back and now the X team is exploring the code base
The coolest Coachella brand activations
Social platforms 📲
Meta 📸
- Meta AI is now part of the search experience on Instagram, providing real-time web results
- Meta is developing Creator AI, which would allow influencers to clone themselves to have DM conversations with followers.
TikTok ⏰
- TikTok Notes launches in Canada and Australia
Snapchat 🫰
- Snapchat AI watermarks will be automatically generated when people use Snap’s generative AI features like Dream and AI Snaps
Pinterest 🎨
- Pinterest hosted its first Coachella activation, Pinterest Manifest Station
Notable partnerships 📓
Poppi partnered exclusively with Alix Earle for Coachella
- The brandflew Alix and her sister in on a private jet to "Casa Poppi"
- The brand reported a 200% spike in sales during the Coachella weekend
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