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- A $75 Billion Black Friday š¤
A $75 Billion Black Friday š¤
By all metrics, this Black Friday 2024 has been a whopping success. $75 billion is an astounding number, shattering last year's record by over 5%. And $11 billion came from US ecommerce. But wait? Isn't the economy bad? What's happening here? I wish there was an easy answer, but this is going to require us to dive in.
Wait, so is this a good economy?
These kinds of record-setting sales numbers generally means consumer sentiment is strong, right?
The punditry machine has already been put on hyperdrive, but I donāt think the core of my take will surprise you:
Advancements in digital marketing and tech can take a lot of credit.
Also in this edition:
TikTok Stops Beauty Filters for Minors
Night Lights Up Bottle Rocket Management
Burned Out? Get an AI Twin to Do Your Work.
Job ops from GSD&M, Roku, and Crunchyroll
ā¦and a dank creator economy meme by yours truly!
Letās get into it.
NEWS:
Itās currently Cyber Monday, so most numbers are still predictions.
But one thing is clear: this Black Friday went off.
When phrases like āthe price of eggsā are in the public vernacular, how did this happen?
A round-up from pundits:
People are shopping for Black Friday because itās a bad economy and need the discounts.
This is the first year where apps like Temu made discounts truly insane, so a lot of people are buying $2 shirts or $5 drones.
People are seeking a distraction, and shopping is perfect for that.
This is one last āhurrahā of shopping before tariffs raise the prices of everything.
All of these are certainly contributors, butā¦
My hot take: Lots of digital marketing advancements led to this.
The data tells a good story:
57% of purchases were made on mobile
The amount of Black Friday e-mails increased by 15%, and nearly 70% of consumers prefer to learn about Black Friday deals from e-mail.
Retail app sales have increased nearly 10% YoY, where push notifications and targeted promotions greatly increase conversion.
TikTok Shop is claiming $100m in US sales on Black Friday, which is an impressive amount of growth for a relatively new form of commerce in the US.
Chabot usage exploded, with 20% of US consumers claiming they used one to find deals this year. Thanks AI!
So yes, a lot of factors went into this increase. But I see a neck-breaking speed in the adoption of AI marketing, social selling, and mobile apps as key contributors.
Sorry under-18 teens, but the TikTok ābeauty filtersā will be taken away in the next few weeks.
For those who donāt create on the app, there are a series of filters that will ābeautifyā the subject using AR.
This means a pointier nose, thinner face, sparklier eyes, smoother skin.
What I call ādigital makeupā.
And with teen depression on the rise, can this help keep TikTokās hands clean?
My hot take: This is a step in the right direction, but itās one step in a marathon.
Online creators arenāt dumb. They know these beauty filters exist on Snap, CapCut, and about 1 million other apps.
They know how to stream through other apps to have these filters appear live.
They know how to alter images and videos in post-production through AI editing apps.
This move adds a few extra steps to teens getting the look they want, but itās not rocket science to get around it.
The only real solution would be using AI to ban all video for teens using beauty filters regardless of editing platform.
Congrats Chas! Youāve been bought by Night!
The former management company of MrBeast and current management company of megastars like Dream and Kai Cenat expanded their roster through the acquisition of Bottle Rocket Management.
They have a killer roster of brand-friendly talent and a very experienced CEO (former Fullscreen colleague of mine!)
So why is Night doing this?
My hot take: They need this brand-friendly inventory.
Night is very strong when it comes to Gen Z cultural relevance.
They could use some beefing up on content that I call ābrand crackā.
Those āno brainerā creators who have clean content, lean-in fanbases, and often appeal to older or more niche audiences that shop.
Bottle Rocket specialized in those creators.
Youāre going to continue seeing more acquisitions of representation firms, and those with the most promise will be those with the most ability to attract sales and brand dollars.
FAME & FORTUNE:
EarnOS*, the cost-per-result marketing platform, showed me a technology that is the strongest win-back campaign platform Iāve seen. It uses a mix of influencers, competitive analysis, and incentivized engagement to take your competitorās customers back at a fixed price. And creators are incentivized with every conversion!
TwinTone, an AI digital twin technology, unveiled a really impressive digital twin demo on their X account. We may be getting closer to 24/7 creator streams where the AI twin takes over when the creator is unavailable! As always, if you reach out please tell them Phil Rantaās newsletter sent you!
Kajabi, one of the leaders in creator-based digital content sales, launched a free Creator Class to help turn influencers into entrepreneurs. The caliber of talent is high, so Iāll be bookmarking to check it out!
TikTok had a creator summit last month and pushed long-form hard. Here are ten tips they shared about creating long-form content on the platform. My favorite? āBe intentional with your aesthetic.ā
*I get a small commission from sign ups for this
2024 Dall-E 3
GSD&M needs an SVP, Head of Social for people who love acronyms.
Roku is looking for a Senior Account Executive, Entertainment & Media. And if you get it, please push to create a FAST channel showing nothing but the last 10 minutes of cooking shows for me.
Crunchyroll wants a VP of Artist & Entertainment Partnerships, but if you donāt know what a āstraw hat pirateā is you probably shouldnāt apply.
MEME ZONE:
Rosanna Pansino will let us know
Thank you for reading! If you enjoyed this edition, give it a share and if you get someone to sign up, Iāll send you my ā10 Rep-Friendly Ways to Monetize Today!ā deck!
Until next time, protect yo rep.
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