As Social Media Platforms Rake In Cash, Creators Say They’re Getting A Raw Deal
There's talk of forming a union, but that's easier said than done.
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It’s a catch-22 for modern content creators. On one hand, they have to be on social media because that’s where their audiences are … but on the other, these platforms are notoriously stingy about sharing the massive amounts of revenue they earn from all of that content.
“It’s insulting”
One prominent creator recently offered a glimpse into the financial side of amassing an audience of roughly 3 million on social media. Despite reaching hundreds of thousands of people with a single piece of content, Erin McGoff said she receives next to nothing in the way of profit sharing.
“On Instagram, I’ll have a video hit 900,000 views and make $6,” McGoff said. “It’s insulting.”
Of course, like others in her position, she’s been able to translate her audience into other streams of income, including subscriptions and brand sponsors.
But that doesn’t change the fact that big business is getting even bigger based on the hard work of artists and creators.
“TikTok and Instagram are making so much money off of ads and they’re not sharing that with creators,” she added.
Creators fight back
With their entire careers in the hands of faceless corporations that can shut them down entirely by implementing an algorithm change, it’s becoming clear to McGoff and others that they need to take control of their own fortunes.
One attractive option would take a page from the playbook of Hollywood writers, who went on strike last year to guarantee some important concessions from studios.
Hannah Williams, one advocate for unionization, noted that such organization could increase transparency and result in a fairer deal for creators of all types … but acknowledged that the diversity of the industry presents some real hurdles.
“Depending on the type of creator you are, you might have different priorities,” she said.
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