What Elon Musk Buying Twitter Means for Creators – StreamLeader Report 009
It’s not exactly breaking news that Elon Musk is purchasing Twitter. You’ve already heard the heated political rhetoric ranging from “this is the death of democracy” to “he’s saving the First Amendment.” Far less has been said and written about what this means for users of social media platforms, particularly creators and online entrepreneurs.
My feeling is that regardless of whether Musk turns out to be good or bad for the political actors and advocates who obsess over Twitter, or those on one side of the political divide or the other, creators must face realities in 2022 that may not be impacted by a change in the guard at Twitter.
The first reality creators must face is that social media just isn’t that into you anymore. Yes, social networks still want your time and attention, and certainly still rely on your data, but they’ve largely moved on from you when it comes to the content they’re prioritizing.
To grow into what they are today, the major social networks encouraged independent creators and online entrepreneurs to build their businesses on their content-hungry properties. By selling advertising against the web traffic provided by user-generated content and auctioning user data to third parties, the top social media platforms are now the most powerful companies in human history.
The independent creators and small business owners who made that growth possible are getting throttled while big tech is focused on collaborating with corporate media, fortune 500 companies and celebrities. Make no mistake, social media algorithms are tanking organic reach. Celebrities, big media and big corporations – supported by big tech – are taking over prime online spaces, pushing independent creators further out of the spotlight.
I have no idea if Elon Musk plans to make things better for the average creator on Twitter and whether that will encourage other social media platforms to do the same. We can’t let hope (or fear) lead us to ignore the need for other options to connect with our audiences, communities and customers.
We must have options that don’t depend on the volume of listens, views, likes or shares on a given social media platform. Focus on smaller audiences who will pay for premium content, exclusive access, courses, memberships, special events and other offerings. We can’t rely on organic reach on Facebook, Twitter, YouTube or LinkedIn.
If Elon Musk or anyone else makes big platforms more friendly to independent creators and small business owners, it will only help more people learn about your paid offerings. And if big tech continues to throttle creators, you now have other avenues for reaching, engaging and providing value to your core audiences while still getting paid in the process.
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You’re Invited: Meetup at PodFest and VidFest
Heading to PodFest and VidFest in Orlando? You are invited to join us at our Livestreamers Meetup on Saturday, May 28th from 1-1:30pm ET.
It’ll be a fun time to catch up in person with casual conversation, networking and giveaways, and meet contributors to 100 Livestreaming & Digital Media Predictions, Volume 2. Our last Podfest meetup was a blast in 2020 just prior to the lockdowns.
#1 Best Seller in Six Countries
I’m super excited to report that #100Predictions, Volume 2 has now reached #1 Best Seller status in six countries: US, Canada, UK, Australia, Netherlands and Germany.
We came close in Japan, making it to the #2 Best Seller ranking. Thanks to everyone who purchased a copy.
Watch Our First Book Trailer Video
It’s approximately 45 seconds. What do you think? Watch it here.