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By Photo: Illustration by Mike Sullivan Welcome to the first edition of the Creator Economy newsletter from The Information. Social media influencers have extraordinary power over culture and they are among the savviest entrepreneurs of our time. They are also multiplying: By late last year, some 50 million people considered themselves creators, according to venture firm SignalFire. While the creator economy is booming, information about it is fragmented and sometimes hard to follow. This newsletter aims to cut through the noise with news, commentary and financial analysis on the creators and companies driving the industry. Weâll examine the biggest VC deals, go inside the big tech companiesâ strategies and highlight creators moving up the charts. And weâll keep you up-to-date on trends with short explanations (Curious why TikTokers are chanting âSheeshâ? Read on.) ....
The audio chat-room app Clubhouse raised a Series C round that valued the company at $4 billion despite its install numbers dipping in recent months. Apple is introducing a subscription feature for its podcasting platform. The company plans to charge creators $19.99 to be a part of the program and will take 30% of earnings in the first year. The fee drops to 15% in the second year. Netflix is launching an unscripted series with TikTok group the Hype House. The show, produced by Wheelhouse Entertainment, will feature TikTokers Thomas Petrou, Kouvr Annon, Alex Warren, Chase Hudson, Larri Merritt, Nikita Dragun, Sienna Mae Gomez, and Jack Wright. ....
Creator+, a new film studio and streaming platform for digital-first storytellers and their audience who want to support them, raised $12m in funding. The round was led by Petra Group and Freestyle Capital, with participation from Jake Roper, Peter Hollens, Wendy Ayche (aka Wengie), Selina Tobaccowala, and strategic business partners including Jazwares CEO Judd Zebersky. Led by Benjamin Grubbs, former global head of top creator partnerships at YouTube, and startup veteran Jonathan Shambroom, Creator+ is a new film studio and streaming platform for digital-first storytellers. Films presented by Creator+ will premiere on the company’s proprietary platform across web, mobile and connected TV devices in a premium video on-demand (PVOD) offering with no subscriptions or ads. Creators partnering with the company have transparent backend revenue participation, and will receive audience insights and ownership. ....
The Creator+ leadership team The media startup, co-founded by YouTube vet Benjamin Grubbs and tech veteran Jonathan Shambroom, will see digital media vet Adam Wescott running its content arm. There s another player in the digital content race. Targeting Gen Z creators and consumers, with a focus on longform content, former YouTube global head of creator partnerships Benjamin Grubbs and serial Bay Area entrepreneur Jonathan Shambroom recently announced studio and streaming platform Creator+. Now it s setting the roster for its Hollywood-facing wing, tapping leadership for the content studio. The studio will be led by longtime digital media executive and producer Adam Wescott, who hails from Select Management Group. Wescott, who developed and produced content around digital creators like Eva Gutowski, Gigi Gorgeous and Lauren Riihimaki, departs Select two years after he and co-founder Scott Fisher merged operations with Lisa Filipelli s Flip Management. ....
Creator+ raises $12M to build a film studio and streaming service focused on digital storytellers In the words of co-founder and CEO Jonathan Shambroom, Creator+ is a new startup that will “finance, produce and distribute feature-length films from today’s top creators and emerging storytellers.” The company is coming out of stealth today and also announcing that it has raised $12 million in funding led by Petra Group and Freestyle Capital, with participation from Jake Roper, Peter Hollens, Wendy Ayche (a.k.a. Wengie), Selina Tobaccowala, Jazwares CEO Judd Zebersky and others. Shambroom (who’s been an executive at numerous startups and also served as general manager at Crackle) told me that one of the key aspects of the Creator+ strategy is that it controls “both sides of the equation” it’s both producing films and building its own streaming platform, where the movies will be available for individual purchase, with no subscriptions and no ads. ....