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It’s Friday and The Onion’s latest move is what satirical dreams are made of. The parody outlet has purchased Infowars with one goal: to transform Alex Jones’ infamous conspiracy site into “a very funny, very stupid website.”

Today’s News

GOING PREMIUM

Spotify just unveiled a revamped creator dashboard and monetization program

The event: Spotify has announced a slew of fresh features. At a Now Playing event attended by creators like Dhar Mann, Anna Sitar, Bailey Sarian, and Rhett & Link, Spotify CEO Daniel Ek and and a cavalcade of other execs detailed the growth of video content and outlined a series of updates that will help creators lean into the format.

Ek’s putting a strong focus on combining the worlds of podcasting and video-on-demand on his platform. It makes sense. Spotify has dedicated billions of dollars to promoting both formats and, as a result, the number of video podcasts on its platform has tripled year-over-year to reach 300,000. In total, Spotify says 250 million users have now streamed at least one video podcast on the platform. The rise of long-form listening and watching has increased the average amount of time spent on Spotify, too. In 2020, that figure stood at 30 hours per month. Now, Ek says its approaching 40.

The updates: So, what is Spotify doing to capitalize on those trends? For one, the platform is rebranding Spotify for Podcasters to Spotify for Creators, a multifaceted dashboard featuring analytics, fan interaction, distribution tools, and multiple monetization options.

Spotify is also diversifying revenue streams for creators. In January, a revamped Spotify Partner Program will begin compensating creators in two ways:

1. Partners will get a cut of earnings from ads (including the video ads Spotify has pushed over the past year).
   
   

2. Partners will receive payouts through a performance-based Premium Video Revenue system that will scale creator earnings as their videos are seen by more Spotify Premium subscribers.

A video feed is also in the works. Creators will soon be able to cut and upload short-form clips, which will condense Spotify’s podcasts into bite-sized moments. Instead of discovering podcasts via short-form clips on rival platforms like YouTube and TikTok, Ek and his team are hoping all that the content discovery (and its associated watch time and advertising revenue) can stay within Spotify’s green confines.

Tldr: Spotify is courting video creators, introducing revenue streams for video, and developing new ways to get video content in front of viewers. In other words: audio might be Spotify’s bread-and-butter, but it’s bullish on fostering the growth of its video ecosystem.

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HEADLINES IN BRIEF 📰

• Is Mark Rober a Shorts creator now? Does that distinction even matter? Eight of the last 10 videos the former NASA engineer uploaded to YouTube have been Shorts. But regardless of whatever kind of creator he is, he’s crushing with 120 million views last week and the #37 spot on our U.S. Top 50. (Tubefilter)
  
  

• A new integration will gives advertisers the ability to use licensed content from Getty Images in AI-driven TikTok campaigns. (The Verge)
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• A forthcoming Snapchat update will give parents more insight into their kids’ location and activity via new tools like “travel notifications.” (Engadget)
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• The European Commission has hit Meta with an $842 million fine after determining that connections between Facebook and Facebook Marketplace violated antitrust regulations. (Engadget)

CREATOR CURRENCY

YouTube is taking on one of TikTok‘s most lucrative revenue streams

The rebound: YouTube is debuting its own take on one of TikTok‘s most lucrative revenue streams. Two months after announcing an on-platform currency called Jewels, YouTube has begun rolling out the feature among Partner Program members.

According to The Verge, Jewels will be available on vertical live streams launched through the YouTube app or third-party streaming software. When sent as gifts to streamers, the currency is converted into “rubies” that are valued at one cent apiece.

That system bears a striking resemblance to the Coins used to power virtual gifts on TikTok LIVE. The in-app currency has ushered in hefty payouts for TikTok streamers —and incentivized more creators to give streaming a try in the process. Now, YouTube seems hopeful that Jewels will have the same effect.

The context: YouTube and TikTok aren’t the only platforms embracing the shift to virtual currencies. From Roblox‘s Robux to Fortnite‘s VBucks and Instagram’s Gifts, hubs across the creator economy are pivoting away from cold hard cash. The reason for that shift is rooted in psychology: when money is converted to a currency that doesn’t align with real-life dollars and cents, people tend to spend more. 

BUSINESS TRACK

A business insider aims to tap into viewer curiosity with high-quality, evergreen videos

The plan: Nicholas Carlson is going all in on video. The former Business Insider editor has announced the launch of Dynamo, a production firm that aims to deliver high-quality, evergreen video journalism. Examples of the company’s early content ideas include an exploration of meme-worthy statue and an answer to the question “how do massive container ships shrug off giant waves?”

As he told The New York Times, Carlson hopes those curiosity-quenching videos will attract a target audience of “dynamos”—aka viewers who feel the world can be explained through the lens of business.

The challenge: Now, Carlson says, his team has to “figure how to do that profitably when so many others with hundreds of millions of dollars at their disposal could not.” That’s easier said than done: as the editor-turned entrepreneur pointed out, even major companies have struggled to turn a profit from evergreen video content. CNN tested out the concept a decade ago when it launched Great Big Story. The brand—which brought long-form, journalistic videos to platforms like YouTube and Facebook—enjoyed initial success before closing down amid COVID-related financial hardships.

The context: On the other hand, today’s media landscape is markedly different from that of 2020, and—as Carlson will know from his tenure at Business Insider—there’s a clear demand for the content Dynamo has planned. Insider has complemented its traditional editorial business with a lively presence on social media, where it gets millions of views by uploading curiosity-based pieces (like this one about Egyptian tilemakers) and repurposing clips to reap traffic on short-form hubs.

WATCH THIS 📺

Coffeezilla takes a look at MrBeast

The investigator: “Internet detective” Coffeezilla is back at it. Just three weeks after digging into Andrew Tate’s alleged “crypto grift,” the investigative YouTuber has turned his the crypto activities associated with another creator: MrBeast.

MrBeast—aka Jimmy Donaldson—is facing claims that he engaged in “pump-and-dump” crypto schemes and other forms of insider trading. Coffeezilla got to the bottom of those allegations (as best he could) in a 25-minute video. Check out his full investigation here.

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Today's newsletter is from: Emily Burton, Drew Baldwin, Sam Gutelle, and Josh Cohen.