How AI Fakes are Taking Business from Online Influencers, X Gets Another Valuation Cut & TikTok Advises 2-Hour Livestreams for Sellers
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Artificial intelligence is reshaping influencer marketing, as exemplified by the virtual influencer Aitana Lopez, a creation of The Clueless agency. With over 200,000 followers, Aitana, alongside others like Lil Miquela, is gaining traction in brand partnerships. This trend is cost-effective for brands but raises concerns about authenticity and the future role of human influencers. While providing control and avoiding controversies, the ethical and relational aspects of such AI creations remain a topic of debate.
Fidelity Investments has marked down the value of Elon Musk's X Holdings, previously Twitter, by 71.5%. This news comes amidst Musk's controversial public statements and the ongoing volatility in tech valuations. The comparison with Meta and Snap's stock performance in the same period paints a stark contrast.
TikTok is changing e-commerce dynamics by advising merchants to conduct livestreams of at least two hours on its Shop platform. This approach, mirroring successful strategies in Asia, aims to increase engagement and sales, as longer streams provide more opportunities to attract viewers. This shift signifies TikTok's commitment to integrating e-commerce more deeply into its platform.
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A recent Business Insider and YouGov survey reveals that Gen Z trusts YouTube significantly more than other social platforms. With a trust rating of 59%, YouTube leads due to its enhanced trust and safety measures. In contrast, TikTok and Facebook struggle to gain trust among Gen Z users, with only 30% and 28% trust ratings, respectively. These findings highlight the growing importance of platform integrity and safety, especially among younger demographics.
Reddit, gearing up for a potential IPO in the new year, expects a 20% increase in ad revenue, reaching over $800 million. Despite this growth, it falls short of the $1 billion target set two years ago. The company's profitability challenges and smaller ad revenue compared to user base size remain concerns. Reddit is now focusing on a video ad program and seeking a 20% increase in marketer spending in 2024 to boost its ad business. The platform's success in these endeavors could significantly influence its valuation and IPO prospects.
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