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‘The opportunity has never been bigger’: How the creator economy has opened options for creators to profit from their intellectual property
This article is part of a cross-brand Digiday Media series that examines how the creator economy has evolved amid the Covid-19 pandemic . Explore the full series here .
“Intellectual property” is a term often reserved for the Disneys of the world that have been able to take characters like Mickey Mouse and franchises like Marvel and squeeze them for licensing revenue in the form of product lines and content syndication deals. But individual video creators are also now getting in on the act.
Over the past decade, creators have increasingly struck deals with companies like retailers to license their likenesses for new product lines. They have even formed their own commerce businesses pedaling everything from cosmetics to clothes to coffee. More recently, companies like Jellysmack and Spotter have emerged offering to pay creators millions of dollars in some cases to license their video back catalogs. Meanwhile, non-fungible tokens (NFTs) provide the next potential opportunity for creators to spin off new revenue sources from the content they have created and audiences they have accumulated.
“I’ve definitely seen the opportunities increasingly arise for our clients,” said Mahzad Babayan, digital talent agent at talent agency UTA where she has worked with creator clients […]