Facebook, Instagram, TikTok, YouTube, and other social platforms are flourishing, and the Internet celebrity economy has become a prominent school. However, unless you are among the millions of fans, it is difficult to stand out among the millions of creators around the world, and it is easier to lack recurring income. As a result, there are very few full-time content creators.
Seeing the growth of the number of creators, Fanfix, an online platform that allows creators to get sponsorship from fans, came into being. What’s interesting is that what they want to do is to get Gen Z users between the ages of 13 and 24 to pay.
Since its launch in August 2021, the platform has attracted more than 10 million users and has attracted millions of Instagram followers such as Cameron Dallas, Madi Monroe, Brooke Monk, Anna Shumate, and other Internet celebrities, covering artists, chefs, games, etc. Players, athletes, fitness trainers, and chefs.
Locking in a generation that is numb to free content, how does Fanfix compete with the elders of social platforms
However, the outside world generally believes that Generation Z is a group of unstable economic power. Why does Fanfix target the platform to Generation Z and expect them to pay to support creators?
Harry Gestetner and Simon Pompan, the co-founders of Fanfix who are also Generation Z, said that “not interested in paid content” is a common misunderstanding of Generation Z. Since Generation Z grew up in an era of free content overload such as TikTok and YouTube, Z Generation fans are actually more eager to see content that will not appear on free platforms, such as the creator’s private life.
Harry Gestetner and Simon Pompan emphasized that this is not just their personal experience. Before starting their business, they studied the age distribution of fans paid on Twitch and found that fans of Generation Z are willing to pay tips on Twitch, although individual fans pay a small amount, Gen Z pays more overall than those in the middle class who are seen as better off. Judging from Fanfix’s official disclosure that creators can earn a 6-figure income per month, Fanfix’s new attempt may have been verified.
But the doubts Fanfix faces are not limited to these. Major social platforms such as Facebook, Instagram, and TikTok, under the condition of a larger existing user base, can’t be used as a favorable channel for creators to realize their profits?
In August, Jack Conte, founder of Patreon, a crowdfunding platform for creators, publicly expressed his disdain for Facebook and Instagram’s increasing frequency of recommending unfamiliar content, which may be the answer. He believes that after Meta changed its algorithm, the platform recommended a large number of short videos and videos, which aroused users’ disgust. When users saw content that they were not interested in, they naturally would not have the idea of spending money to support creators. However, TikTok and YouTube, which are both creator platforms, have been criticized for giving creators too little profit. Obviously, free platforms are not necessarily the best for fans and creators.
Harry Gestetner said that what Fanfix has to do is “transfer power from large social platforms to creators so that creators can make money while doing what they like.” Directly to the creator, Fanfix charges the creator another 20%.
Creators can only promote fan service after being reviewed by Fanfix
In order to meet the requirements of Generation Z for high-quality paid content, creators who want to join Fanfix must conform to Fanfix’s brand image. Fanfix has not officially announced the specific criteria for brand image compliance. The only objective criteria announced are creators on TikTok, Instagram, and Social media platforms such as YouTube must have at least 10,000 followers.
As for fans on Fanfix, they can enjoy 3 major functions:
1. Preview content
Opening Fanfix, users can find a string of posts similar to Instagram posts. The difference is that each post is processed in a mosaic. Only fans who pay a fee can unlock the content of the creator’s post. The content uploaded by the creator may be creative. Fanfix life sharing, preview content, exclusive discount codes, etc., in addition to pornographic content, can be seen on Fanfix.
2. Video chat with KOL
Like App Intro, which chats with entrepreneurs via video, Fanfix has also launched a similar service. Fans can pay 3 to 500 US dollars in exchange for the opportunity to chat with creators. According to Fanfix, the top few hundred creators can earn thousands of dollars through this feature, and this feature is also Fanfix’s largest source of income, accounting for about half of the company’s total revenue.
3. Live streaming tipping
Unlike live broadcasts on Instagram, which cannot be monetized, Fanfix has launched a live broadcast reward function for creators. When creators broadcast lives, fans can freely tip, and paid fans can be the first to ask creators questions and chat instantly during live broadcasts. Chance.
To date, Fanfix has processed hundreds of thousands of transactions, and creators on the platform have earned millions of dollars from the service. Creators can charge fans whatever membership fee they want, starting at $5 per membership fee, in addition to the unlock fee for a post. Fanfix users said that they can see the creator’s exclusive paid content on Fanfix, and feel closer to the creator.
From this point of view, Fanfix is not aiming to replace Instagram, YouTube, and other platforms. What they have to do is more like screening those die-hard fans on Instagram and YouTube who are willing to pay for creators, so that creators can concentrate on operating paid content on Fanfix , and those die-hard fans who are willing to transfer from the free platform to Fanfix and pay for support can also get exclusive fan benefits here.
Acquired by SuperOrdinary, Fanfix creators will be the first to obtain industry distribution opportunities
Fanfix was recently acquired by SuperOrdinary, a platform that matches brands and creators. The exact acquisition price has not been disclosed, but the price is only known to be around eight figures. After joining SuperOrdinary, creators on Fanfix can get the opportunity to cooperate with more than 140 brands on SuperOrdinary, including Farmacy, OLAPLEX, The Honest Company, etc., and put links to the matching products on Fanfix.
Julian Reis, the founder of SuperOrdinary, said that since SuperOrdinary was established, it has been focusing on the development of the creator economy, and has cooperated with more than 70,000 KOLs in total, but the gap in the monetization of Gen Z creators has not been filled for a long time, because this happens to be the main focus of Fanfix Therefore, it decided to extend its tentacles to the Z generation through cooperation with Fanfix.
Simon Pompan said that Fanfix will embark on the road of being acquired, and still needs to return to the original intention of Fanfix-to realize cash for creators.
The partnership between Fanfix and SuperOrdinary will help creators on Fanfix to better connect with brands and achieve traffic monetization results. For Fanfix, the Internet celebrity economy has not yet come to an end. To kill the blood in the payment platform, the platform must continue to do a good job in quality control, so that fans can see the content they are willing to pay for so that the platform has the opportunity to share the Internet. A piece of the red economy.