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3
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· Posted on
February 21, 2024

YouTube flags new creator tools to rival TikTok, Instagram

Google is pulling out all the stops (*cough* NFTs *cough*) to take on its major competitors.

What's the key learning?

  • YouTube is looking at introducing a new set of features involving NFTs to lure creators off TikTok and onto their platform
  • The creator economy and user-generated content is where the action (and money) is at
  • If brands want to be get in with Gen Z, they need user-generated content - and they'll pay big bucks to get it.

Background: TikTok is the social media app known for the Telephone re-make - and it's fair to say it has attracted a tonne of creators and influencers from other channels (ahem Insta and Youtube).

What happened: YouTube is looking at including a whole new set of features (mainly involving NFTs) to help level the playing field and (re)attract creators.

What else: Youtube wants to see NFTs used as a way to manage communities...to help people crowdfund...or to help creator's mint and sell their own work.

So what's the key learning?

💡The creator economy and user-generated content is where the action and 💰💰💰 is at. And TikTok - being a hotspot for user-generated vids - already has this down pat.

💡So, if brands want to be get in with Gen Z, they need user-generated content - and they'll pay big bucks to get it.

💡 YouTube has always been a bit behind the 8 ball in this respect, so by introducing new features, they might get back on the front foot.

‍

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