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hundreds of millions of people now describe themselves as content creators the rules of the game have changed and businesses are rewriting their marketing playbooks to keep Pace with the irrepressible influencer economy Welcome to The Exchange from our studios here in Doha coming up on this episode Snapchat’s president of Europe middle easn Africa Ronan Harris reveals the secrets of snap’s success and why business users are at the heart of his future plans plus we meet the YouTube meast Star turned agency boss caspell to find out where the influencer economy might go next well in recent years the influencer economy has matured according to finance group Goldman Sachs research it’s a sector now worth at least $250 billion and predicted to almost double reaching 480 billion by 2027 according to research by influencer marketing Hub a firm that specializes in data across the social media and influencer Industry a staggering 200 million people now identify as content creators with about a third of this number intending to pursue it as a full-time profession and while celebrity deals make the biggest headlines influencers with fewer followers are critical to the future success of the industry according to research conducted by Harvard Business Review content creat creators with 50,000 followers or less account for a remarkable 76% of all Tik Tok creators and up to 96% on Instagram so how easy is it to survive and thrive as a content creator well our reporter pick lauron in Los Angeles met one business owner with her own recipe for influencer Success hi guy Los Angeles is the ultimate destination for influencers this is where the wildest dreams come true and today I’m going to meet with someone whose success went beyond what she even imagined hi hi Tu guen is only 26 but the Vietnam native who moved to the US when she was a child has a million followers on Tik Tok and Instagram combined she gained visibility during the pandemic from posting this cooking video of her favorite Vietnamese recipe there was so much interaction and I was like oh people are really liking this and then I think it was was the first like 6 hours it got like over 3 million views by signing with an agent she quickly monetized her increasing Fame on social media most of my money comes from brandal that’s where the usage rights come in play and that’s where they use your content for advertisement after hosting a series of pop-up restaurants she partnered in 2023 with a lifestyle company to open her own place in West Hollywood didd f features her best recipes and has already served 40,000 customers but Tu says the competition is fierce I feel like this happens to a lot of restaurants whether it started on social media or not the honeymoon phase died down of after the opening because they’re like oh yeah we’ve already been there and so in order to like keep people coming back we constantly change up our menu we have events and Tua isn’t done yet she’s on track to publish her first cookbook in September [Music] The Talented toy win there sharing the key ingredients needed to achieve success instant messaging super app Snapchat has over 400 million daily users Ronan Harris is the company’s president of Europe Middle Eastern Africa I asked Ronan why so many people are attracted to Snapchat and what future Direction the firm is taking influencers come to Snapchat first and formost because they find an audience that they can connect with it’s the fun creative lenses that allows them to have a little bit of a a kind of a fun moment with their with their closest relationships so augmented reality is something that Snapchat really uh has a a leading position in um both in terms of our technology but also in terms of the usage stats but it’s also playing a very important role for Brands and businesses so uh sponsored augmented reality lenses are something that’s giving people a very different sort of AD format it’s giving people an opportunity to H H create an experience online that their potential consumers and fans can really wrap themselves in so big platforms like Snapchat are evolving but so are some of social media’s most famous faces YouTube Superstar Casp launched his comedy and interview Channel back in 2011 and became one of the most popular YouTubers in the world many years and millions followers later Casper’s career has evolved to support other creators and the big Brands they represent well I caught up with Casper here in Doha and asked him why he made this transition and his thoughts on why social media apps are so popular so about seven years into my career as a a YouTuber or Creator um I met a guy called Ben Jeff uh and he had this idea uh about connecting Brands and creators at scale and so we co-founded influencer.com to together and at the time the brand deal world was really kind of a wild west and so what we wanted to do is professionalize that with really incredible people but also great technology and uh We’ve managed to do that we’ve worked on um thousands of campaigns with tens of thousands of creators uh and some of the world’s leading Brands and uh we work across the globe so when it comes to posting I don’t think there’s a one-size fits-all you’re going to see creators being able to scale their production without having to hire massive teams because things like editing remixing just making content in general even special effects these sorts of things have become a lot easier ultimately people want to follow real people and listen to real stories now it’s time for our regular feature business in 60 seconds start the clock bang and olon get ready for their annual general meeting the Danish firm famous for high-end speakers has been busy developing a new smartphone app capable of delivering High resolution audio and immersive spatial sound formats to enhance the listening experience of its customers investors will be hoping that markets remain in tune with the firm’s strategic shift from Hardware to software popular fashion brand American Eagle Outfitters Incorporated prepares to share an earnings release for Q2 2024 the Fashion Group recently centralized the management of All American Eagle Brands into one location a gan Airlines reports on their halfe performance for 2024 Greece’s leading domestic Airline celebrated its 25th birthday earlier this year with a record increase in passenger numbers the group’s revenue and profit soared to record Heights in 2023 continuing their financial success this year will be navigating turbulent market conditions so the influencer revolution is in full swing with billions of dollars being made every day by influencers and agencies alike but with technology like AR and AI transforming digital platforms and influencers increasingly catching the eye of marketing directors and CEOs it’s clear that what boardrooms used to see as novelty is fast becoming the norm well that’s all we have time for on this edition of the show thank you for watching please do check out ews.com for all your latest business news and join us again next time on the exchange