Brands need a way to be able to establish their user base, bring in new leads and do so with the latest technology. Google acquired their first influencer network, FameBit, for an undisclosed amount this past week.
The acquisition will help the company connect brand and creators to offer a new stream of revenue to video creators.
YouTube, a brand owned by Google, does share advertising revenue with most creators. The move will allow Google another avenue to make money from the tens of thousands of content creators using the video platform.
The company boasts over 25,000 branded videos across Facebook, Instagram, YouTube, Vine, Twitter and other social platforms. The company has secured brands, such as Disney, Sony and Canon, among hundreds of others.
Google will allow FameBit to operate on its own and will not change the operations, according to reports.
YouTube users can connect to FameBit as another way to be able to earn revenue. USA Today posted a story about the company’s users making between $2,000 and $30,000 a month by being influencers.
Creators will be able to make more money through FameBit while Google also enjoys higher content creation.
“The move by Google is a strategic one,” according to a source at PSM Marketing. “Google, and YouTube to a greater extent, has been trying to find more ways to monetize its offerings. YouTube is costly, and creators need to make money to continue producing their content,” the company stated.
Local brands, lawyers and dentists can even connect with local influencers to promote their companies.
The company doesn’t just work with international brands to bring in traffic.
FameBit’s videos have included over 2 billion minutes of time watched. Content creators are able to help brands connect with customers, boost brand identity and do so through a self-service marketplace.
It’s a democratic marketplace where brands and creators choose to work together.
Creators benefit from being able to have greater control over the content their audience sees. A good example of this is a gaming content creator. The creator’s channel may show political ads that are against the creator’s beliefs. The ability to directly connect with brands and promote brands an influencer respects and trusts helps them maintain subscribers and viewers.
Influencer marketing is changing the way marketing is done. Before, brands had to use larger outlets to promote their brands to a wide audience, but influencer marketing changes this dynamic. Brands are able to connect with large influencers who may have audiences that span into the millions, but these creators are not large corporations.
FameBit was founded in 2013 and raised $1.5 million in funding.
The company will remain a standalone company and continue to operate in Santa Monica, California for the time being. Google’s long-term plans for the company haven’t been revealed, but it may choose to let FameBit create its own path and grow naturally instead of absorbing it into one of its current products.
YouTube has stated that FameBit will not change how the company works with services and competing digital marketing agencies.
Creators who have over 5,000 followers are allowed to join FameBit.