Hi, this is Amanda Perelli and welcome back to Insider Influencers, our weekly rundown on the business of influencers, creators, and social-media platforms.
Before we begin, some news: This is the last edition before our newsletter goes on hiatus.
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In this week's edition:
A Pinterest exec breaks down the app's new $20 million investment into paying creators
Why the shout-out app Cameo is open to deepfake technology
An Instagram creator took us inside her fashion collection with INSPR
How a startup wants to help launch Twitch's next streaming stars
And more, including nominations for the top women personal-finance influencers and how TikTok is changing the music industry.
Pinterest will start paying eligible creators in the US for posting content.
The blogger-beloved platform is the latest to reveal a flashy monetization program similar to programs from Snapchat, Instagram, and even LinkedIn.
Sydney Bradley spoke with a Pinterest exec about the platform's $20 million payout that will fund "Creator Rewards."
Here's what you need to know about the roll-out:
The fund will pay creators if they participate in "reward goals" or various themed posting challenges.
These incentives come with end dates, and creators will be paid according to the number of engagements a post gets.
Eligible creators can access these rewards in a new dashboard called the "Creator Hub."
"It is really our first big initiative for monetization for creators," said Colleen Stauffer, Pinterest's global head of creator marketing.
Cameo CEO Steven Galanis said the company is open to deceased celebrities joining its platform using deepfake technology.
"We could go to their estate and offer a great new income stream for people that have passed away," he said.
Dan Whateley wrote that the remarks came during an interview at the Wall Street Journal's Tech Live event.
Galanis said Cameo would only consider adding a celebrity to its platform if it was something their estate endorsed.
"If their estate is like, 'Hey we would not want to do that,' like of course we wouldn't do it without their permission," he said.
Here's what else you need to know this week:
- Facebook is planning to change its company name next week
Here's how much money eight YouTubers with 1 million subscribers make
- How TikTok is changing the music industry
Instagram creator Amy Lefévre, who modeled for Chanel and Dior, is releasing a fashion line with INSPR.
JP Mangalindan wrote that Lefévre's knitwear collection, due out in October, was the product of a seven-month collaboration.
Founded in 2018 by Chantel Waterbury, INSPR has developed and released seven limited-edition capsule collections to date with creators. Lefévre's upcoming line is one of 11 influencer collaborations in the works at INSPR.
Hover is a startup hoping to help solve Twitch's discoverability problem.
Michael Espinosa wrote that on the platform, users can scroll through gaming clips, with the option to like, comment, and share, and it allows users to quickly follow streamers on Twitch and tune into Twitch streams without leaving the app.
So far, the platform's userbase is small, with only about 27,000 mobile app downloads, but it boasts high engagement.
Katherine "Katliente" Pan, a streamer who judged one of the "Next Top Streamer" broadcasts, told Insider that Hover had been an effective place to network with other creators and find partners to collaborate on content with.
Seeking nominations: Top women personal-finance influencers
We want to hear from you! What are the top women-led financial accounts on social media?
To highlight the women making an impact in the space, I am working on a new power list with my colleague Laila Maidan of the top women personal-finance influencers.
Please submit your ideas through this form.
TikTok hashtag of the week:
Every week, we highlight a top trending hashtag on TikTok, according to data provided by Kyra IQ.
This week's hashtag: NoBones
Percentage uptick over the last 7 days: 8,072%
The latest viral hashtag is centered around a popular series of videos from TikTok creator Jonathan Graziano and his pug, Noodle. "No-bones days" are named after Noodle flopping back into bed in the mornings. These videos have been taken as predictions about how the day will go.
What else we're reading and watching:
Moonbug, the company behind "CoComelon," is looking to sell or go public (from The Wall Street Journal)
BuzzFeed wants to know, what should Facebook's new name be?
And before you go, check out the top trending songs on TikTok this week to add to your playlist. The data was collected by UTA IQ, the research, analytics, and digital strategy division of United Talent Agency.