Who could have predicted this? You pay a load of money to creators so they’ll make content on your platform. And then they disappear as soon as you stop paying as much. As CNBC reports:
[Snap announced] it would no longer pay $1 million per day. Instead, Snap would pay “millions” per month starting June 1…
Now, these creators are complaining that payments have dwindled since that change, and searching for other short-form video platforms where they can find the kind of hefty payments they used to get from Snap.
CNBC highlights one creator who went from posting 100 videos per day to zero since June when payments became more “erratic.”
As I’ve highlighted in this newsletter many times lately, platforms are offering creators a cash bonanza at the moment. But the best creators aren’t on a platform just because they love it. Just like your favourite footballer switches teams to where the money is best, creators know they’re in demand and make the most of it.
If those payouts aren’t sustained for the long run, creators will move. A TV production company wouldn’t keep making a show for a network that massively reduced its payments for that show.
The best creators aren’t just users looking for an occasional bit of income, they’re skilled professionals. And platforms need to treat them that way.