User-generated content platform deserve to earn the revenue sharing from social media
As social media platforms are made up from user-generated content and in order to maintain quality content for consumers and reclaim the value of content creators , fair and transparent revenue sharing should be a norm practice of social media.
Social media has disrupted our content consumption behavior. For example, more and more people admit that they explore and read the news from social media rather than news publisher websites. News publishers face the revenue diminishing every year as the subscription model cannot offset the behavior shift and ad blocker browsers escalate the impact of publishers’ source of income, resulting in less quality content for consumers and more click bait content flying around the social media platform.
Million content creators or influencers on social media face the cut in revenue stream from reducing feed algorithm reach to their followers which results in cut into the money they can make from sponsored editorial contents or due to lower reach and lower traffic to their website.
Social media platforms are made up from user-generated content or in other words content creators are the group of people who make social media platforms viable for business and earn a decent amount of advertising. Without content from content creators, no users will spend time on the social media platform. Therefore, the content creators should be treated fairly from the revenue that social media platforms generated as well.
All types of content format, not just a video, deserve to earn the revenue sharing from social media. On top of that, few platforms state clearly what is the revenue sharing rate that content creators can monetize, so transparency is another issue of unfair agreement between content creators and social media platforms.
This another unfair practice of current social media needs to be fixed. Our solution proposal is time-weighted distribution revenue sharing for content creators. Content creators who contribute the long content format and users spend more time engaging in the content deserve the higher proportion of the revenue sharing from the platform no matter in terms of content format they contribute.
The business model of revenue sharing to content creators should be the norm of social media practice. In addition to the Personal Data Economy, users and content creators deserve the fairer social media platform, so this is why we have passion to build Castcle, decentralized social media.
It is time to disrupt social media. Will you join our journey? Any feedback is appreciated and welcome.
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Reference
https://www.wired.com/story/tiktok-creators-fund-revenue-sharing-complaints/
https://vidooly.com/blog/facebook-video-ads-revenue-sharing-model-creators/
https://digiday.com/media/facebook-news-feed-changes-will-impact-publishers-branded-content-revenue/
