Thursday, December 8, 2022

Creator economy in focus amid downturn; Elon Musk says Twitter usage at ‘all-time high’ - Economic Times

Last updated Tuesday, November 8, 2022 11:05 ET , Source: TopWireNews

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Tech companies, which have been walloped by the downturn this year, are increasingly turning to the creator economy for ways to shore up plateauing ad revenues and user growth. The latest of these is Snap, which on Tuesday announced the launch of its Sounds Creator Fund in India. Others that have stepped up their creator game in recent months include YouTube, Meta and… Visa?
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Tech firms are sharpening their focus on creators
Social media platforms and other technology companies are increasingly tapping the creator economy to grow their user numbers and income amid a severe downturn and rising fears of an impending recession in the US and other developed countries.
Driving the news: The latest to do so is Snap, owner of Snapchat, which on Tuesday launched its Sounds Creator Fund in India. The fund will provide monthly grants of up to $50,000 to emerging, independent artists. The move is in line with Snap's plan to deepen its presence and shore up its revenue in India by tapping regional content creators, especially in non-metro markets.
Also read | Why Snap is wooing Bharat
YouTube, meanwhile, said on Tuesday that users around the world will soon be able to view Shorts –...

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