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Creators đ€ Venture Capital
Slow Ventures looks to support creatorsâ early-stage business ideas
Good morning. 20 years ago today, a little dating site called YouTube.com activated its domain name. The idea was for people to upload videos of themselves to meet potential dates, but it quickly broadened to videos of all kinds. Nearly 3 million monthly active users, 500 hours of video uploaded every minute, and trillions of views laterâŠYouTube has come a long way.
â Hannah Doyle
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Inside the Fund Investing $60 Million in Creators
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Sam Lessin (left) and Megan Lightcap (right) open VC backing to more creator-led startups / Slow Creator Fund
Slow Ventures, the early-stage VC known for backing brands and niche creators like literary creator John Fish and linguistics expert Marina Mogilko, recently launched the $60 million Slow Creator Fund.
Slowâs offer: Theyâre writing $1â3 million checks in exchange for 10% equity in a creatorâs company.
Slow wants to provide a hands-free and holistic approachâoffering connections, ideas, and guidance as neededâthat enables creators to succeed over time.
âCreator businesses are unique in that all brand equity sits with the creator themselvesâthey have all the leverage,â Slow investor Megan Lightcap told us.
âSo the way we thought about [the fund] was to be dead simpleâletâs enable the creator to focus on the thing that means the most and is most valuable to them and their community. They can use the capital however they think is most strategic and as the investor we just want to be aligned with them.â
Slowâs target creator to back with the new fund:
Creators primarily focused on YouTube
Creators building something new with an audience willing to spend
Creators looking for capital to scale what theyâve already built
âAs long as they have a good passion, audience, and niche categoryâthose are our bullseyes,â Billy Parks, who previously worked on creator investments at The Chernin Group and is leading Slowâs fund, said.
Zoom out: While individual creators like Doug Demuro and Kevin Espiritu of Epic Gardening have secured VC funding in recent years, theyâre not the norm. Funds like Slowâs open up VC backing to more creator-led startups.
âWe have a thesis that thereâs going to be a subset of creators that are very capable business builders who start to build interesting companies tailor-made for their audience,â Lightcap said. âAnd theyâre going to do so with better cost of acquisition, higher lifetime value, and greater attachment [than the average founder].â
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Overheard at the Lighthouse Opening
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âThe Bearâ showrunner Joanna Calo (center) and actor Lionel Boyce (right) speak with Blumhouse creative executive Kyle Brett (left) at The Lighthouse Campus Festival / The Lighthouse
This week, creator agency Whalar held an opening festival for its first creator campus and workplace in LA, the Lighthouse. Hereâs what we heard from a mix of creators and Hollywood pros in conversation â
Why YouTube is the leading streaming platform: âCreators are more in tune with their audience and get instant feedback so theyâre able to adapt more quickly to what the audience wants,â Curtis Nicotra, co-creator of Sticks, said.
A lesson creators can take from Hollywood? Setting the tone: âWe interviewed lots of chefs. It was an amazing experience that Iâll do in every show that Iâll ever run again. Itâs not only the vernacular, itâs how you use it, and understanding the rhythm of how and why they talk like that,â The Bear showrunner Joanna Calo said. âThen pulling in the specifics. If you have something a [character] is going through, you find a way to bring those specifics in. You can cut happily or cut sadly.â
On creatorsâ advantages in Hollywood: âHollywood doesnât think about creators as much as creators think about Hollywood,â our own Colin Rosenblum said (Colin & Samir are co-chairs of Lighthouseâs Creator Council). âBut [Hollywood] sees âyou understand audienceâ because theyâre spending money on projects and struggling to find an audience.â
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Sponsored by Teachable
Your Expertise Is Also Your Best Business Model
Dara Denney mastered the art of Facebook & TikTok adsâbut consulting trapped her in the hour-for-dollars grind. Instead of continuing to scale clients, she decided to use Teachable and scale her expertise by:
â Creating YouTube content to build her target audience
â Turning her consulting playbook into a digital product business
â Growing a six-figure revenue stream on Teachable
Your niche expertise isnât a limit, itâs your biggest asset.
Subscribe to Teachableâs 9-5 Quitterâs Club newsletter to see how thousands of creators are turning that expertise into self-sustaining revenue.
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Spotify: Creator Revenue đ
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Podcasts âWeâre All Insaneâ hosted by Devorah Roloff (left) and âModern Wisdomâ by Chris Williamson (right) see growth from the Spotifyâs creator program / Weâre All Insane, Chris Williamson
Itâs been just over a month since Spotify rolled out its creator monetization program, allowing video podcast creators to earn revenue from 1) ads played on Spotifyâs free tier and 2) audience engagement from Premium subscribers.
Spotify shared some top stats from the program:
Video podcast consumption is up more than 20% since the programâs launch.
January creator payouts increased by 300% annually.
Mental health podcast Weâre All Insane reported earning more than $17,000 in its first month of the Partner Program while wellness podcast Modern Wisdom reported a 36% increase in Spotify listens.
Big picture: The video podcast wars are heating upâYouTube is now the most-used listening platform for podcasts, while Netflix is reportedly exploring deals with podcast creators.
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đ„ Press Worthy
The Tribeca Film Festival is accepting creator submissions for its Tribeca X awards, featuring brand-backed storytelling.
Amelia Dimoldenberg is hosting the red carpet livestream for SNLâs 50th Anniversary special tomorrow.
Spotify is giving $50,000 in grants to writers with unpublished, novel-length manuscripts depicting mental health in fiction.
Beast Games releases its final episode.
Adobe opens its AI video generator to the public for beta testing.
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đïž Thank You For Pressing Publish
The content weâre looking forward to reading, watching, and listening to this weekend.
Read: College students who have rejected social media since high school wonder whether theyâll be able to live the unplugged life as they enter the workforce.
Watch: Jenna Phipps, who went viral for buying a rundown home, shares a one-year renovation update.
Listen: In the The Telepathy Tapes, filmmaker Ky Dickens follows parents and educators communicating with nonverbal children with autism and the âshared consciousnessâ they experience.
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