We all know LinkedIn as the social media site targeted at professionals. Now, they're looking to grow their content with a US$25 mil creator fund.
Background: We all know LinkedIn as the social media site targeted at professionals. And there are around 775 million users who shamelessly promote their achievements and work updates on the site.
What happened: But alongside professional development and networking, LinkedIn also provides some decent content. And it's been trying to build this part of its biz for a while. Remember the Stories feature? RIP.
What else: It's expanded tools for creators, and now it's going one step further by launching a US$25 million creator's fund. They're hoping the cash will attract top creators, which will help them build out a platform for more content.
💡It's a simple equation. Quality content on a platform = more engagement and more users.
💡LinkedIn wants to encourage more engaging voices on its platform. Because if more people are engaged and spending more time on LinkedIn, then they can sell more ad space and other premium features.
💡But you can't just ask creators to create. Competition amongst platforms to attract good content creators is fierce. TikTok, Facebook and Instagram and YouTube have all created funds to pay content creators. So while US$25 million is nice...it's a far cry from the big players.
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