August 23, 2021
Party people, I promise you that this newsletter wasn't sponsored by TikTok. It's just a TikTok kind of day. On the plus side, this is Creator Crew #50.
Here is the top link from the previous send: Karat raises $26M for creator credit cards.
The FaZe x Crypto Fiasco
Last week I dove into the alleged pump and dump fiasco surrounding FaZe clan members Kay, Jarvis, Nikan, and Teeqo. Now after an internal back and forth, FaZe announced that Kay would be permanently removed from the team the remaining members would be suspended until further notice.
The official statement from FaZe clan can be found here, but here's the 80/20, “we strongly condemn their recent behavior. The trust and respect of our fans has been, and always will be, our number one priority.”
Editors note: Building a brand is no easy feat and scandals such as these can undo years of hard work. FaZe Clan made the right decision by removing and suspending the members.
How Much TikTok Creators Actually Make
When it comes to platform payouts, TikTok is on the smaller side. Even with a million followers, it's not uncommon to see TikTok creators struggling to make ends meet. I've seen it firsthand during my creator management days. In BI's latest series on how much creators actually make, they highlight how one creator with 8 million followers makes $750 for one off promotional videos $1,400 for two videos and $2,000 for three.
TikTok is still in its early day, so the numbers will go up. In the meantime, the opportunity to partner with cost-effective creators is still possible.
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Talking Social & Platforms
TikTok Launches Shoutouts
As the creator wars heat up, TikTok encroaches on popular startup Cameos' turf. The company announced a new feature called, "Shoutouts" which allows creators to accept payment for video requests. It's another example of incumbents rugging creator startups as they continue to fight for creators attention.
Editors note: This isn't the nail in the coffin for Cameo, but it does show the path to victory for creat startups is to differentiate through community, features, and market opportunities that incumbents can't explore due to their business model. Without this, startups will lose the battle and the war with incumbents.
More On Social & Platforms
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