YouTube Takes a Hollywood Approach to Finding and Coaching Creators
YouTube Consulting Helps Drive Creator Content
YouTube’s (GOOGL) continued growth hinges on creators who draw millions of subscribers to its platform every day. For this reason, YouTube is pouring time and money into mentoring creators. To keep subscriber numbers growing, content creators are under pressure to continually come up with new ways to engage viewers. To help, YouTube’s in-house consultants provide advice and guidance on what works and doesn’t, relying on data about what users want to watch.
Snapchat (SNAP), TikTok, and Instagram (FB) are also creating in-house consulting arms to help content creators on their platforms. The social media companies are always on the lookout for the next influencer sensations, similar to the way scouts look for the next Hollywood star.
YouTube Needs to Keep Viewer Numbers Growing
Increasing viewers who use YouTube is key to the unit’s growth. Last year YouTube made close to $20 billion in ad sales, accounting for about 11% of Alphabet’s revenue. YouTube embeds ads in videos across all its channels. It needs to show advertisers its subscriber count is increasing to command top dollar for ads.
As a result, YouTube is willing to invest money and work with content creators who have large followings on its platform. The company has over 1,000 employees spread out in 45 countries providing mentoring to roughly 12,000 creators. The staff each get 10 to 20 video makers to oversee. YouTube plans to hire more talent experts in the near future.
Rival Social Media Companies Hire Talent Scouts
Snapchat is also in hiring mode, looking to add staff to its consulting business in Europe and Latin America. Snap wants these consultants to work with its so-called “Snap Stars,” which includes internet influencers and public figures. Meanwhile, TikTok has dozens of talent consultants on its staff who work with creators. Instagram has over 40 employees dedicated to finding the next social media stars.
Creating content is big business for social media platforms which is why YouTube is pouring money into mentoring its creators. Content needs to be fresh and engaging to keep viewers coming back. It will be interesting to see if social media companies’ Hollywood approach to creators will pay off.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.