Putting the ‘social’ back in social media, Instagram reels vs. TikTok, MrBeast investments
Hi there! This is Amanda, and welcome to our weekly creator-economy newsletter, Business Insider Creators.
Here’s what to expect in this week’s edition:
- And more, including how TikTok Shop is winning over Gen-Z adults and the secret digital behaviors of Gen Z.
Instagram, TikTok, and Snapchat are all building features for close friends.
After leaning into influencer content, the major social apps want to feel more, well, social.
Sydney Bradley and Dan Whateley wrote that consumers want tech that helps them feel more connected amid a loneliness epidemic.
TikTok and Instagram have been competing in short-form video for years.
Shriya Bhattacharya wrote that new data found Instagram reels is surging ahead of TikTok in countries like the US, Japan, and Spain.
In the US, 37% of Instagram users now use reels daily, and 78% engage with it monthly, Morgan Stanley found based on a March survey of around 2,000 consumers over the age of 16.
MrBeast has invested in five creator startups, according to court documents.
I broke down the companies he’s invested in, which include the creator conference VidSummit and the snack company he founded, Feastables.
The documents also reveal that Donaldson expects to earn $700 million in revenue this year.
On the ground at VidCon: Dispatch from day 1
Yesterday, I traveled to Anaheim, California, for VidCon, an annual creator-economy conference for creators, industry leaders, and fans.
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My first impressions of VidCon 2024 are that there aren’t as many splashy activations from YouTube, TikTok, or Meta. In 2022, YouTube rented out part of the parking lot in front of the conference center and built a drive-thru experience to promote the launch of its short-form feature.
YouTube remains the main sponsor of VidCon for the second year in a row. Disney is also a major sponsor, and its branding is on the attendee and speaker lanyards, promoting the new Disney+ movie "Descendants: The Rise of Red." Having a traditional media company as a top sponsor is a noticeable difference from last year when the lanyards featured the jellyfish logo of creator-economy startup Jellysmack. Other sponsors this year include Apple TV+, NASA, Kajabi, Viral Nation, and Fanta.
This year, the major platforms seem to be focused on smaller booths. YouTube’s booth is focused on Minecraft creators within YouTube gaming, Instagram has a small booth that lets attendees create photos and stickers using AI, and TikTok’s activation is a walk-through “airport” with destinations like Shop and a focus on longer, horizontal videos.
Yesterday, VidCon held its first Industry Leadership Summit, an off-the-record event focused on topics related to the future of the creator economy, such as business advice from creators and trends. It brought together creators, talent managers, CMOs, senior brand executives, and VCs.
I’ll be interested to see which creators draw the biggest crowds this year and what everyone is buzzing about.
Be sure to check out the panel I’m speaking at today, “Al-Powered: The Creator Economy in 2025 & Beyond” with Gaurav Misra, Brett Dashevsky, and Chris Do.
I’ll also be moderating two other panels:
- On Friday: “Creative Control: Inside Nebula's Creator-Centric Universe,” with Dave Wiskus, Sam Denby (Jet Lag: The Game), and Valentina Vee.
- On Saturday: “Living Out Loud: Inside the World of Lifestyle Content,” with Janette Ok, Arianna Hailey, Microsoft, Sofia Bella, and Kelly Kay.
More coverage from this week:
The business of being a creator
- How to become an influencer and start making money (Business Insider)
- Why influencers want you in their group chats (Business of Fashion)
Social platforms and creator-economy startups
- TikTok Shop is winning over Gen-Z adults (Business Insider)
- TikTok makes major play for ‘Eras’ of Taylor Swift fans (The Washington Post)
- Snapchat rolls out improved protection tools (Social Media Today)
What’s happening in digital culture
- The secret digital behaviors of Gen Z (Business Insider)
- TikTok users have a new phrase for using too much blush, called ‘blush blindness’ (The New York Times)
Thanks for reading! Send me your tips, comments, or questions: aperelli@insider.com.