Who actually pays for subscriptions to creators?
Instagram is launching subscriptions allowing creators to earn monthly income.
That's all well and good. However, whenever I see announcements like this, I'm puzzled by who is actually paying for subscriptions to creators or influencers?
Perhaps it's my Luddite tendencies, but there's pretty much no one out there I'm interested in buying a subscription to just to see their daily musings on Instagram. I understand all subscriptions are different (I'd be keener to engage if it's educational content or resources that help my company grow). But I don't want to pay to see photos of an influencers' coffee, cats, or confessions.
I love the idea of the creator economy and giving power to individual content creators. And if they can make a living doing so, that's awesome. I'm just amazed (and astounded) that some creators make upwards of $1 million a year on fan subscriptions.
Anyone else out there feel this way? Do you pay for any subscriptions to creators, and if so, what's the value you see in it?
Hey Arvid 👋,
I had the same thought when Twitter launched super follows.
Here are my thoughts:
I think Twitter, Instagram are trying to emulate what YouTube has created where creators have massive fan followings who buy their merchandise and the products they endorse.
Especially in today's world, I think people are lonely and they see online creators almost as "friends". So, they value the connection and what the person has to say.
So, for each platform this could work really well for people in some niches. On Twitter where the content is textual, people may super-follow to see a particular person's takes on Finance/Tech/Skilled Niches. And on Instagram where things are about pictures a beauty guru might have paid followers who pay to see their make-up tutorials/routines.
Ashish
Thanks, @GalacticLeopard. Glad to know I'm not alone!
That's a good point that I hadn't thought about regarding friendships and connections. And yeah totally agree with the practical business content. I definitely think there's value in a good deal of what creators are being paid for but I suppose I think of Instagram as more frivolous a medium.
It'll be interesting to see it develop. Do you think we'll get to a point where a majority of people are earning something from their social platforms (even if small)? With web3 I wonder if Facebook and Insta are worried.
I think we're all guilty of thinking of certain platforms as frivolous especially when they're outside our bubble. Initially everyone looked down on TikTok until it became a powerhouse and minted several new millionaires. It also appears to be an amazing place to put your product out on:
Hmm good question. I think the number of people earning in general from internet side hustles has risen dramatically and continues to do so through things like Etsy and Shopify.
So, I wouldn't be surprised if a large number of people start earning from internet side hustles including social media. I think social media is a little easier since it's just your thoughts but of course you still need skills to build an audience around that. I never thought audience building was hard until I tried it myself: https://www.indiehackers.com/post/first-2-weeks-of-taking-twitter-seriously-7fa5a0f8cf
But majority? I'm not so sure because there's 7 billion people on Earth, and even if we consider a majority as > 50% that's a massive number. Maybe if 'subscribing' to creators is cheap?
Can't comment on web3, don't know enough about it.
Ashish