Culture of Influence: From Creator to Corporation

With increasing power and cultural cache today39s biggest influencers are creative powerhouses at the frontlines of a rapidly evolving influence marketing industryThey also drive mainstream culture and fuel the advertising economy as YouTube sensations join Alist celebrities on the prestigious Met Gala red carpet and TikTok stars snag mega endorsement deals with Fortune 500 companies In fact 27 of Gen Z and Millennial consumers associate the word quotinfluencerquot with someone who is impacting culture in significant waysFor the second installment of its quotEyeQ Culture of amp8230quot series the ViacomCBS Creative Strategy and Cultural Intelligence team conducted a nationwide quantitative survey consumer and expert interviews and cultural analysis The result is quotThe Culture of Influencequot report which uncovers the evolution of today39s online creators into entrepreneurs and outlines what that means for brands marketers and media planners looking to enter cultural conversations and connect with online and offline audiencesBeing a Creator Is the New American Dream2020 became a watershed year for quotcreatordomquot when the coronavirus pandemic drove life online People of all ages and backgrounds flooded the creator space as they made career pivots tried out new platforms or simply looked for connections The profession has a massive appeal as nearly half of Gen Z and Millennial audiences said they would like to press a button to instantly morph into a fulltime creatorThe allure of being a creator is tied the freedom that comes with being your own boss Gen Z and Millennials survey respondents reported that financial independence and having a positive impact were the top motivators for having a career as an online creator at 19 and 18 respectively Fame was a motivator for only 2 of respondentsIt39s also affecting how the next generation of adults thinks about their careers More American kids today say they want to grow up to be a YouTube star 29 than an astronaut 11 according to SignalFire a venture capital firm that invests in seedstage and breakout companiesWhether YouTubers TikTokers Twitch gamers Instagram models Substack writers Patreon podcasters Clubhouse hosts or Pinterest pinners creator roles are redefining social entrepreneurship quotThis is more than just kids making videos on the internet This is the New American Dreamquot said Kaelyn Kastle a Bermudian pop artist and member of Collab Crib an allBlack Gen Z creator mansion Collab Crib and Hype House are among several incubators designed to support rising influencersasbrands with resources infrastructure and distributionRecognizing the opportunity major brands are partnering with influencers to connect to consumers For example Dunkin39 Donuts collaborated with TikTok39s most followed creator Charli D39Amelio to add quotThe Charliquot cold brew to menus nationwide and launch a limitededition merch collection To build hype around its limitededition Travis Scott meal McDonald39s partnered with ViacomCBS to pick ten influencers such as Sterling Shepard and Lexi Hensler It was the first in a series of quotfamous ordersquot collaborations with cultural juggernauts such as J Balvin and Saweetie McDonald39s used promote its mealsCreators39 Latest Subscribers Venture CapitalistsAnother sign that the creator economy is here to stay Millions of dollars flowing into the industry from venture capital New monetization models and VCfunded apparatuses have leveled the playing field for anyone interested in converting their clout into a credible career path and seizing ownership over their personas Fifty creatorfocused startups this year have seen investments around 2 billion according to The Information39s Creator Economy DatabaseInfluencers are also becoming venture capitalists Consider MrBeast a YouTuberturnedventure capitalist who started Creative Juice an investment fund that enables people to invest in creators and offers influencers a suite of tools so they can act more like small businessesquotVenture capital is now pouring into the onceunfunded worlds of content creation and curation We will see new economies spring up and existing ones acceleratequot explained Grant McCracken a cultural anthropologist and author featured in quotThe Culture of Influencequot reportCreatorForward Brand PartnershipsAs creators step into the land of corporate power and celebrity advertisers must reckon with influencers39 newfound power and institutionalization They need to think beyond the typical brandcreator relationship to treat creator partnerships as collaborations rather than a onesided amplification of their brand39s message To increase the effectiveness of campaigns advertisers should understand each influencer39s audience aspirations and goals And borrowing from stock market logic brands and businesses should consider investing in earlystage creatorsGet up to speed on four critical shifts outlining the pervasive impact of online creators and their communities on culture brands and beyond in ViacomCBS39 groundbreaking study titled quotThe Culture of Influencequotthe second installment of the cultureforward EyeQ whitepaper series The first installment titled quotThe Culture of Streamingquot can be found hereClick the social buttons to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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