The Creator Economy Runs on Fans
It’s fair to say that journalists don’t typically think of themselves as creators. But in the past few months, as the media industry has felt the effects of the pandemic and a changing digital landscape, some writers have taken a page from the creator handbook. This past week, one of The Verge’s flagship writers, Casey Newton, launched a publication on Substack. Speaking to the New York Times on his decision, Newton said: “You might follow a publication,” Mr. Newton said, “but it’s more likely you care about an individual reporter or writer or YouTuber or podcaster. People are increasingly willing to pay to support those people.”
Direct funding models, once a novelty reserved for product prototypes on Kickstarter, have entered a new phase. Instead of supporting a fledging brand or publication, internet users of today want to fund individuals. The sense of connection and value that fans feel for people whose work they engage with online — whether it’s comedy podcasts, beauty product hauls or climate change reporting — has, in some ways, become more important than traditional media outlets. Social media has made it easier to learn about and feel a sense of loyalty to the person behind the camera/mic/screen. That ability to build a following, along with the development of payment platforms like Stripe, has made it possible for individuals to find financial support within a niche.
Once you start looking for them, you see direct funding models everywhere. Some are specialized by content, like Bandcamp, which gives a platform to musicians. Others, like Patreon, act merely as financial go-betweens that span industries. Within larger platforms, too, direct funding has become more of a norm. Twitch has both donations (bits) and subscription functionalities, Google’s Fundo allows creators to host virtual, ticketed live events. Spotify recently enabled artists to link to third-party “tipping” services on their profiles.
Substack, the platform Newton chose for his subscription publication, fills a gap in an industry that’s long been dominated by clicks, and the ads that drive them. In a recent article in Digiday, co-founder Hamish McKenzie spoke of the opportunity at hand: “During the first 20–30 years of the internet, in terms of information distribution and media, the innovation has mostly come around an ad-supported model. There’s a whole 20–30 years of innovation to come that more fully innovates around a subscription model.”
It’s undeniable that today, the majority of digital writing prioritizes volume over quality. This isn’t really true in most corners of the creator economy, where individuals need to rise to the expectations set by their fans and focus on maintaining a certain level of quality in their content. Once content becomes rote, the authenticity that drew fans in can start to erode. Like the personalities behind zines and early blogs, creators make content for themselves and for their community, not for a common denominator. With services like Substack and Patreon, we’ll likely see more of that ethos among writers, podcasters, and beyond. The internet is a big place. Subscription and direct payment models make it possible for more people to find their voice and their communities and make it all feel a little smaller.
